Why Bitcoin Stagnance From Vaccine Hopes is Suddenly Causing an Altcoin Boom
Bitcoin has settled into a consolidation range following its significant climb since the start of October. However, increasing sell pressure has many analysts calling for a sharp correction in the near term if $15k fails to hold. Currently, the price of Bitcoin is down 1% in the last 24-hours to $15.3k. Source: BTCUSDT on TradingView.com […]
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Bitcoin rose Monday, putting itself back on track to retest its record high after promising results on a coronavirus vaccine reinforced hopes of an economic rebound next year. The spot BTC/USD exchange rate climbed 0.95 percent after the benchmark cryptocurrency briefly snapped its six-week winning streak on Sunday. The pair touched an intraday high of […]
This morning, news broke that Cambridge, Massachusetts-based biotech firm Moderna, had reached 94.5% efficiency in preventing the onset of COVID with their in-the-works vaccine. Bitcoin responded with a rally, but the last time around when Pfizer revealed their success rate, the cryptocurrency plummeted by over $1,000. With the likelihood of an effective vaccine growing, and […]
A vaccine merely triggers inflation, allowing more institutions/investors to exchange their cash holdings for the cryptocurrency.
Price reaction to vaccine breakthrough renews dialogue over whether bitcoin trades like a risk-on asset, inflation hedge or neither.
Hedera Hashgraph's blockchain platform will provide the health service with a tamperproof record of vaccine temperatures, the firm said.