Bitcoin’s $9,000 Price Stays Steady as Sentiment Stays Positive

As global equity markets continue to get pummeled, bitcoin’s return to the $9,000 level may have been driven by some of the same forces causing a rally in bonds — a desire for respite from a coronavirus-plagued markets. Traders see bitcoin’s jump back into the $9,000 range as another sign bitcoin is trending upward in 2020 while traditional markets stumble.

Although traders seem to be open to viewing the cryptocurrency markets as a safe haven from stock market turmoil, more volatility is possible ahead of May’s halving, an event that will slash in half the reward bitcoin miners obtain. Losses in crypto include bitcoin SV (BSV), bitcoin gold (BTG) and ethereum classic (ETC) all down 3 percent Disclosure Read More The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

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