Coronavirus seems to have an effect on cryptocurrencies
The upward trend in digital assets may have to do, in part, with the outbreak of the virus in the Asian region
Several experts from the world of cryptocurrencies claim that the upward trend that digital assets are presenting could be somewhat related to the outbreak of the coronavirus.
Although experts support this theory, “I also want to emphasize that this particular correlation does not necessarily translate into a cause”, says the founder of Quantum Economics, Mati Greenspan, who stressed that he sees “no direct correlation between the coronavirus and the price of cryptocurrencies.”
“In my estimate at the moment, we are in an ’alt-season’ and that generally tells us that people are looking to take risks if they have a little extra money. This is exactly what is happening in the stock markets as well. More likely, what is driving the cryptocurrencies at the moment is a feeling of risk and not a refuge from security”, says the expert.
Others believe that the fear of the virus outbreak is related to the desire of the population to find a way to store goods and money, so they opt for the acquisition of cryptocurrencies.
K. Tovar
Source: Cointelegraph
