NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Strong Bitcoin Rally Sparks Fears of a Virus-Driven Violent Recession

Cole Petersen
Cole Petersen
1 year ago
2 mins read
Recession

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The spread of the deadly and highly contagious Coronavirus has kindled fear in the hearts of investors, as the global equities markets are now facing heightened recession risk as the death toll and potential economic impact of the virus grows at a rapid rate.

The strength of the ongoing global selloff can be seen by the massive rallies incurred by safe haven assets like Gold and Bitcoin, which is emblematic of growing fears of an imminent recession amongst investors.

It is important to note, however, that analysts do believe that the downtrend resulting from the viral outbreak may be closer to an end than is widely expected.

Bitcoin Rallies as Global Equities Plummet: Recession Fears Abound 

As reported by The New York Times, the death toll stemming from the recent Coronavirus outbreak has climbed above 80 as China reports thousands of new cases of infected individuals, with nearly 3,000 people now officially infected.

It is highly likely that more and more cases will begin surfacing in other countries as well, as news recently broke that the virus had made its way to Orange County, California.

The fast spread of the Coronavirus coupled with its relatively high death rate has sent shockwaves throughout the equities markets, with the Chinese markets reeling down 6% overnight, while the US benchmarks all shed just over 1%. This dip has not yet been deep enough to bring the markets into recession territory, however.

“Chinese stocks now down a bloody 6% since last night. All coronavirus driven,” Alex Krüger, an economist, explained in a recent tweet.

Chinese stocks now down a bloody 6% since last night. All coronavirus driven. pic.twitter.com/lncTyMYPMr

— Alex Krüger (@krugermacro) January 27, 2020

In tandem with this sell off, Bitcoin has been able to rally nearly 3% to its current price of $8,790, and it is now fast approaching a revisit to its 2020 highs of $9,200.

Economist: Coronavirus Will Have Economic Impacts, Especially in China

Although the ongoing sell off in the global markets has sparked concerns that a recession is imminent, it is important to keep in mind that this turbulence comes close on the heels of a massive multi-month rally.

Krüger also spoke about this in a recent tweet, explaining that the market’s reaction to the virus is natural and will likely lead the Chinese government to respond with expansionary policies in an attempt to combat this economic damage.

“The virus does have significant economic impact, and is thus natural for markets to sell off. Markets are discounting mechanisms. Retail sales in China will take a big hit, and will impact consumption and GDP. Should expect the Chinese govt to respond with expansionary policies,” he noted.

The virus does have significant economic impact, and is thus natural for markets to sell off. Markets are discounting mechanisms. Retail sales in China will take a big hit, and will impact consumption and GDP. Should expect the Chinese govt to respond with expansionary policies.

— Alex Krüger (@krugermacro) January 27, 2020

Although the Coronavirus-induced market turbulence may extend into the future, it does not appear to be likely at this time that it will lead the markets into recession territory, and most of the economic impacts may be contained within China – so long as it doesn’t grow more globally widespread.

Featured image from Shutterstock.
Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

gamestop-inspired-a-lingerie-mma-league-to-buy-bitcoin-subbd-token-soars

GameStop Inspired a Lingerie MMA League to Buy Bitcoin: SUBBD Token Soars?

Shaun Donelly knows a hot item when he sees one – and Bitcoin’s the hottest item of them all. The...

Aaron Walker 4 hours ago
qwatio

Ο «κακότυχος» trader ‘qwatio’ έχασε $12,5 εκατ. μετά από 8 ρευστοποιήσεις σε μία εβδομάδα

Ένας άτυχος trader με το ψευδώνυμο “qwatio” βρέθηκε θύμα της κρυπτο-αγοράς, χάνοντας $12,5 εκατομμύρια από υπερμοχλευμένες θέσεις σε Ethereum και...

Ανθή Ντόνκοβα 4 hours ago
BitMine

BitMine Stock Soars 700% After $250 Million Raise For Ethereum Treasury

Tom Lee, the market strategist known for his insightful predictions on Bitcoin (BTC) and broader crypto prices, has taken on...

Ronaldo Marquez 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

bitcoin

Bitcoin Network Volume Echoes Mid-2021 ‘Stable Equilibrium’ – Is A Big Move Brewing?

Ash Tiwari 53 minutes ago
Ethereum

Ethereum Indecision Masks A Bullish Setup – Here’s Why BTC Holds The Key

Godspower Owie 1 hour ago
Bitcoin

Here’s What Will Happen If The Bitcoin Price Can Manage A Clean Break Above $108,500

Scott Matherson 3 hours ago

Premium Sponsors

Press Releases

  • Cauți cele mai bune criptomonede de cumpărat în 2025?...

    4 minutes ago
  • Tražite najbolje kriptovalute za kupnju u 2025. 4 top izbora za vaš portfelj

    Tražite najbolje kriptovalute za kupnju u 2025.? 4 top...

    16 minutes ago
  • 今が狙い目の割安アルトコイン特集|注目すべき銘柄をチェック!

    ...

    4 hours ago
  • 仮想通貨プレセール終了間近|上場価格で購入できる最後の7日間がスタート

    ...

    5 hours ago
  • From traditional mining to smart contract mining, XRP...

    5 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.