With the decline of traditional markets under the influence of coronavirus, Bitcoin (BTC) and other crypto assets suffered a serious collapse, affected by this situation. However, US markets recovered today and gained 3 percent value.
The biggest reason for this is the allegation that US President Donald Trump will declare a state of emergency at the press conference. By declaring a state of emergency, an important fund for combating the virus will be unlocked, thereby bringing more confidence to investors. However, it remains unclear whether this upward price movement in the stock market will be sufficient to provide an upward momentum to Bitcoin and other crypto assets.
Many state governors in the U.S. declared emergency in their states to combat coronavirus and prevent its spread and unlock funds under their control to combat the virus. The same move is planned for President Trump throughout the country. According to the latest news, Trump will enforce the Stafford Law to provide more assistance to states and cities.
Although Bitcoin has been acting as a risky asset that has been highly correlated with traditional markets for the past few weeks, the rise in US markets today has not been enough for Bitcon to gain momentum and is a big curiosity in what direction Bitcoin will move after the press conference. .
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