Stock Market Dump and Tariffs Lead to Bitcoin Running Along With Gold and Other “Hedges”

Bitcoin has been moving upward with hedges like gold since the stock market and Yuan started dumping on news of the US / China tariffs.

Although Bitcoin has often not been correlated with major market moves, it has shown itself to be with this one. Bitcoin has always been seen by at least some supporters as a hedge against traditional assets like fiat (for example, a hedge against the Yuan). Seeing Bitcoin react this way thus is a good sign, at least in the short term, in that respect.

Author: Thomas DeMichele

Thomas DeMichele has been working in the cryptocurrency information space since 2015 when was created. He has contributed to MakerDAO, Alpha Bot (the number one crypto bot on Discord),...

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