Christopher ZeniosAt the time of publishing all coins have shown a significant drop and it’s all due to economic uncertainty and high recession risk just around the corner.
Markets dropped right after the U.S. President Donald Trump announced that travel bans between the U.S. and most of Europe will be effective on Friday midnight because of the novel coronavirus, COVID-19.
Alex Krüger, a reputable economist, expressed that all traders should keep their eye on Bitcoin’s price and remove the idea that BTC will emerge as a safe haven asset.
Time to pay attention. Bitcoin is trading like a risk-on asset. Not a safe haven, but the exact opposite. Following stocks down – although ironically stocks are the ones trading like low-quality shitcoins.
The price of all coins including the top 3, have been affected by the “Trump Effect”.
Bitcoin is currently sitting on $5.922
Ethereum currently at $131
XRP is barely 0.158
The total market cap is $164 billion.
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