The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin Outperforms As Dow Plunges 600 Points, Coronavirus Scare Impacts Travel

by Daily Hodl Staff
January 31, 2020
in Bitcoin

Global growth concerns fueled by earnings reports and ongoing worries about the coronavirus epidemic contributed to a stock market sell-off on Friday that pushed the Dow Jones Industrial Average down 603 points, or 2.1%, to close at 28,256.

Investors dumped equities and tapped into potential safe haven assets such as Bitcoin and gold in a bid to outmaneuver market uncertainty and China’s latest fears about the impact of the coronavirus on trade and travel.

The Dow is now down 3% since last Friday when it closed at 29,160.

Bitcoin rose to $9,551 on Thursday, marking a fresh high for the year. The asset is now trading at $9,301, up from $8502 since last Friday, with Fundstrat Global Advisors head researcher, Tom Lee, speculating that the digital currency will prove itself as a strong hedge against traditional assets.

We expect #bitcoin to shrug off global equity jitters because $BTC likely seen as a ‘safe haven’ from #coronavirus spread.

– breaking from the pattern of 2019 where bitcoin and stocks moved in lockstep https://t.co/O6gWzPBLj1

— Thomas Lee (@fundstrat) January 31, 2020

China’s big economic blow is in motion, with an estimate from CNN pinning the figure at a $60-billion loss for the quarter. Russia, China’s biggest trade partner, has already shut its border to restrict people from traveling and the Chinese government has placed a temporary ban on wildlife trade.

On Thursday, India reported its first case of the virus as the US reported its first case of person-to-person transmission. The UK and Russia confirmed their first cases on Friday.

Speaking at a news conference at the WHO’s Geneva headquarters on Thursday, director-general Tedros Adhanom Ghebreyesus said the previously unknown pathogen has “escalated into an unprecedented outbreak.” Travel warnings have prohibited Delta, United and American Airlines flights to China as the World Health Organization declares the outbreak a “global health emergency”.

According to the Johns Hopkins real-time data tracker, the death toll has risen to 222, with 213 confirmed recovered and 9,925 now infected.

The US travel ban is expected to widen to six additional countries, reports CNN.

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Dima Moroz

Submit a Press Release

Industry Announcements

  • Sports Prediction App Pooky Launches Full Version of Its Play-and-Earn Game
    March 23, 2023
  • StormGain Launches StormGain DEX for User-Friendly Decentralized Crypto Trading
    March 23, 2023
  • KyberSwap Announces First-Ever ARB Token Liquidity Pools, Liquidity Mining and Trading Campaigns on Arbitrum
    March 22, 2023
  • Metacade Presale Hits Final Stage Before Listings, Raising Over $500,000 in Under 24 Hours
    March 22, 2023
  • Yesports Launches the Largest Esports Marketplace for Gaming Expansion Into Web3 Alongside 40+ Partners
    March 21, 2023
  • Metatime Raises $11M in Private Funding To Enhance Web 3.0 Ecosystem
    March 21, 2023
  • Coinfest Asia Is Back in 2023 Carrying the Theme of Web 2.5
    March 20, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$28,355.60
$28,355.60
0.78%
Ethereum
$1,833.07
$1,833.07
2.16%
Cardano
$0.380031
$0.380031
1.63%
XRP
$0.449391
$0.449391
1.79%
Dogecoin
$0.078065
$0.078065
2.63%

Spotlight

  • Macro Guru Raoul Pal Updates Outlook on Bitcoin, Predicts BTC Reaches $50,000 – Here’s His Timeline
    March 21, 2023
  • Former Coinbase CTO Doubles Down on Massive Bitcoin Price Prediction, Compares US Dollar to Collapsed World War I Currency
    March 21, 2023
  • Analyst Known for Calling Crypto Bottoms Predicts Breakout for Ethereum, Says Solana Primed for New Rallies
    March 21, 2023
  • Top Crypto Analyst Says Bitcoin Could Be Gearing Up for Parabolic Push – Here’s His Target
    March 21, 2023
NBX Warsaw Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl