A China Spawned Pandemic Liable to be a Boon to Bitcoin…Or Not
By Vincent Zandri on The Capital
As more and more people become infected with the deadly coronavirus in large areas of China, in particular, Wuhan, the capital of China’s central province, the world holds its collective breath. Since its outbreak on December 8, more than 2,000 cases word-wide have been logged, and more than 100 deaths reported out of China alone (some say 81). That is, according to state run media. That said, the death toll could be much worse. With Wuhan now having been quarantined, one might assume the death toll could be much higher.
How will this affect the price of Bitcoin? While the US stock market initially tanked over anxieties about what’s turning out to be the early stages of a global pandemic, Bitcoin rose sharply recently to around $9,150 per Bitcoin. Overall gains for the very young year thus far not only reflect a bullish market, they are proof that Bitcoin continues to outperform all investment trading opportunities.
