The price of Bitcoin remains stable around $ 6.600 while the stock market awaits help from the American government
Bitcoin price heads towards $ 6.800 levels as the US stock market awaits help from the government of $ 2 trillion. The US economy is in free fall, but quick and efficient measures like the stimulus package and healthcare are saving lives and stock markets. According to Bloomberg Markets, the Dow index rebounded 114 points towards an uptrend, while Bitcoin settles at $ 6.700.
Since 1933, the market showed the largest daily increase, according to numerous market researchers. Bitcoin price already jumped to $ 6.832 yesterday, then back to the $ 6.500-6.750 range now. The market is supported at a $ 6.500 level currently, according to statistics from CT TradingView and Horus Hughes. Altcoins are also in the hot zone, yielding at least 3% in Litecoin, 3% in Ethereum, and 7.7% in gains from Monero.
- Ammous, Saifedean(Author)
Bitcoin on the horizon looks pretty solid
According to the data of coinpaprika.com Bitcoin's dominance remains at 65.5%, while the market cap equals $ 186 billion. It's worth noting that companies like Tesla Inc (NASDAQ: TSLA) and Netflix Inc (NASDAQ: NFLX) were winning all the way. People sit at home, love Tesla ... it all seems logical. Social networks such as Facebook Inc (NASDAQ: FB) also saw a rise in share price. Facebook is gaining 8,7% during trading on March 24. During the month, Facebook shares were so pressured by the coronavirus that they kept falling.
On the other hand, the difficulty level of the network has decreased after the hash rate decreased by more than 40% during March 13. This day you will enter the history of cryptocurrencies and classic markets such as one of the worst days for the bulls. Markets are recovering as miners return. Interestingly, the Bitcoin network difficulty adjustment happens once in two weeks. So now, as the difficulty decreased, miners could mine more with the same rigs for a time. According to the data, they are slowly activating their platforms.
