Bitcoin

Bitcoin and gold adjusted downwards against the background of COVID-19 vaccine news

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On Monday 9 November, the US stock market updated its highs on the back of positive news from coronavirus vaccine manufacturers. Bitcoin reacted with growth, but after a few hours it rolled back down.

The German pharmaceutical company BioNTech and its American partner Pfizer reported that their vaccine reduces the risk of COVID-19 infection by 90%. Futures for the S&P 500 index then updated the historic high, rising from $3555 to $3650.

Brent oil rose by 10%. The DAX index passed the mark of 13,200 points (+5.60%).

The Bitcoin price initially rose with the S&P 500, but corrected after reaching $15,870. At the time of writing, the first crypt currency is traded around $15,100.

Gold also found itself in the red zone, having lost 4.85% in the last 24 hours.

Against this background, a significant correlation Bitcoin Bank between Bitcoin and the noble metal is confirmed.

The 90-day correlation between Bitcoin and Gold is twice as high as the S&P 500.

Recall that on November 6, the first cryptovoltaic currency approached $16,000 for the first time in more than two years. The total interest in the bitcoin futures market reached $5.7 billion.

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