London Capital Group | Nov 13, 2020 08:05
Bitcoin has blown through another price milestone, reaching over $16,000 for the first since January 2018, the month after cryptocurrency markets topped.
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A combination of various state/city lockdown orders, a rise in Coronavirus cases and headlines from Washington that stimulus will be dramatically smaller than hoped for, sent all the major US equity indices lower on Thursday. The Dow Jones dropped 1.1% while the Nasdaq dropped 0.7%. The pan-European Stoxx 600 closed about 0.8% lower, with almost all sectors and major bourses slipping into negative territory. Bond traders were in buoyant mode, buying Treasuries across the curve as Fed's Powell hinted at more action required. Bitcoin rallied above $16,000.
On Wednesday alone, a record of more than 144,000 infections were confirmed in the U.S., bringing the nationwide tally to more than 10 million. Chicago issued a stay-at-home advisory Thursday aimed to curb the spread, while New York has imposed a new curfew on restaurants, bars and gyms.
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