Bitcoin Takes No Prisoners in Jumping Up 30% In The Same Week Dow Jones Slowly Declines
Bitcoin Has Gone Ahead To Jump 30% While Dow Jones Slowly Declines
At the closing of Friday, the Dow Jones was able to recover some of its losses, one that has been experiencing a very rocky week because of the current trump war between China and the U.S. But when we look at Bitcoin, the coin has been able to maintain a bullish run the whole week.
The Trade War Has Some Effects On The Market
With the current events taking place in the stock market, it is leading the analysts to change their opinion from hot to cold very quickly. Last week the market performed very promisingly leading the analysts to be optimistic that the recession might be slim, but these fears seem to be coming back due to the trade war.
With the current trade was President Trump has gone ahead to put a $200B tariff on all the products that are coming from China, all this causing a negative shift in the market. To calm the investors, the trade negotiators went ahead to downplay the current situation claiming that there is a good deal that is brewing.
With such news the investors were optimistic on Friday; as a result, we witnessed positive numbers being posted, but this does not mean that there is still no fear within the market.
With the announcement, it gave Dow a small comeback
With the announcement that was made of talks underway, it gave the Dow Jones some hope as it was able to report a 450-point recovery, ending the day much higher than it had opened. However, the index has been considered to be among the worst performer as it still posted some losses that were averaging at about 2.1%.
A promising coin in the market is Bitcoin as it was able to post some substantial gains despite the trade war taking place, having a 30% return and reaching the levels of $7,500 price point. But this is not all as the coin has been able to enjoy performances of about 120% in the past three months.
It is clear there is some level of divergent in the stock market; Bitcoin has been posting some positive rewards, while other coins posting losses. It is creating some degree of uncertainty in the market. Thus, Bitcoin proves to be a suitable hedge in case of a stock market meltdown, as it is performing better than the regular equity markets.