Someone who has been producing bitcoin has been watching the market for the past few weeks. Virtual currencies, prices on other cryptocurrencies such as Ethereum and litecoin, fell mainly by $ 10,000 in mid-February and briefly fell to $ 4,000 on March 13 despite paying $ 6,000 at the time of writing. Doomsayers do not even think that Bitcoin will soon turn alcohol into three figures.
Adding to the darkness, these shifts were largely triggered by the stock market as investors first panicked at Coronavirus to somehow alleviate the US government’s $ 2 trillion fiscal stimulus package to boost the economy. This type of template casts doubt on the general belief of the cryptocurrency industry that these assets will act as a “safe haven” during the downturn, moving in the opposite direction throughout the market. For many crypto lovers, this was one of the main attractions of buying one currency.
Bitcoin vs S&P 500
At the time of the Coronavirus rage, bitcoin jumped onto Highway 102
Bitcoin = blue; S&P 500 = red. Shopping view
While this was developing, a more encouraging trend attracted far less attention. Because of banning cryptocurrency obligations in the past or refusing to recognize their money, various countries have suddenly begun to recognize them in their financial laws and courts. This may indicate a significant shift in these digital assets in the trunk.
The motivation for these changes was the introduction of new global standards on anti-money laundering and anti-terrorism introduced by the Global Observer Financial Action Task Force (FATF). The rules provide useful consumer / money laundering frameworks for cryptocurrency operations that did not exist before, and this was the reason that many countries did not allow this.
On February 26, a French court ruled that a Bitcoin-related loan is a consumer loan. This meant for the first time bitcoin in the same bracket as money and other financial assets in France for the first time, giving consumers confidence that they would receive the same protection under the law.
Two days later, financial situation