What Trump’s Coronavirus Detection Could Mean for Bitcoin

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Bitcoin was among the only safe-haven assets that didn’t surge following the latest Donald Trump news. The benchmark cryptocurrency stared at losses over the previous 24 hours, falling 3.52 percent to $10,489 as of 0800 UTC. Its latest decline came after the US authorities filed criminal charges against the owners of BitMEX, one of the leading crypto derivative platforms by volume. BitMEX XBT/USD open interest down nearly 20% pic.twitter.com/HywWAt49HI — Unfolded (@cryptounfolded) October 2, 2020 Bitcoin’s downside move accelerated in part after Mr. Trump revealed that he and his wife Melania were tested positive for coronavirus. The global market responded negatively to the event, with the futures tied to Wall Street indexes all going down in tandem. At the same time, safe-haven assets like gold, bonds, and the US dollar surged. Volatility Ahead for Bitcoin Jeff Henriksen, the co-founder/CEO of Thorpe Abbotts Capital, told CNBC that he expects the global…

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