Bitcoin Gains Amid Stock Market Crash

By Joji Xavier | Published: 3/6/2020 10:01 AM ET

Bitcoin stayed strong when the equity markets across the world crashed this week over coronavirus concerns.

Unlike the previous week, when the most popular cryptocurrency reflected the weakness in shares and bond yields, Bitcoin m

From $8500 last Friday, it has added $500 to its value.

Bitcon is trading at $9079 as of this writing, 7 percent up from the month’s opening price.

Bitcoin’s downward journey continued until the last day of February. It was for the first time since 2014 that it failed to make gains in that month. But the trend reversed after it entered the new month.

Ether also improved its strength in the past seven days.

From $234 last Friday, the second most popular cryptocurrency rose to $240, nearly 6 percent increase in its value.

Currently, Ether is trading at $237.

On Friday, Bitcoin has a market capitalization of $166.12 billion, and a 24-hour trade volume of $40 billion, according to CoinMarketCap.

Ether has a market of capitalization $26.12 billion, and a 24 hour trade volume of $19 billion.

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