Market update
This week has been a rollercoaster ride. The Bitcoin price crashed along with global stocks (leaving the ‘safe haven’ narrative worse for wear) but both staged a comeback in the past 24 hours. A few hours ago, the Dow Jones closed 1284 points up for its biggest gain in history, in the wake of reports that central banks will take action to combat the coronavirus induced slowdown. Bitcoin has also surged 4.2% on yesterday. Sure, it’s still down 7.4% on a week ago, but things are no longer looking so grim. The top 10 are recovering, but remain down on a week ago: Ethereum lost 12.4%, XRP (-11.3%), Bitcoin Cash (-10%), Bitcoin SV (-7.9%), Litecoin (-18.2%), EOS (-9.2%) and Stellar (-14.8%).