[2017-08-11] Bitcoin Rallies While Traditional Assets Tumble Worldwide

[Terraformer]

The price of bitcoin is on fire as the decentralized currency has hit another all-time high of $3,550 across global exchanges on August 11. Bitcoin has relentlessly increased in value while global markets have been extremely volatile, shaking the valuations of traditional assets worldwide.

The Honeybadger’s Value Climbs Relentlessly as Traditional Global Assets Falter

As the global economy has been rattled by a sinking U.S. stock market and the cold war-style quarreling with North Korea, the digital currency bitcoin has risen exponentially in value. Wall Street’s DOW average dropped 200 points, and Asian markets slumped considerably due to the global tensions with North Korea. Even rising tech stocks like Nvidia and Alibaba shares plunged in value on Thursday.


Asian markets, Nasdaq, and the DOW slump big time on Thursday.

Throughout all of the economic uncertainty, the honey badger of money could care less. At the time of writing, one bitcoin is averaging $3,530 across global exchanges like Bitstamp, Huobi, Korbit, and Bitflyer. The cryptocurrency commands a significant trade volume of over $1.7B worth of BTC over the past 24-hours and currently captures a $58B market capitalization. A majority of BTC trade volume stems from countries like Japan, the U.S., China, South Korea, and India.



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https://news.bitcoin.com/markets-update-bitcoin-rallies-while-traditional-assets-tumble-worldwide/

[kjlimo]

I just read earlier this week how bitcoin price going up is correlated with stocks going up...

figures never lie, but liars figure...

[CryptoBry]

Bitcoin is the best performing investment tool for the past many years, that is compared to traditional medium like stocks, forex, commodities, derivatives, etc. This is the big reason why Bitcoin has now attracted the eyes and attention of many traders and fund managers who also want to have a pie of the possible profits they can be able to derive...from Bitcoin, of course. Some are putting up Bitcoin derivatives and all of these activities will lead Bitcoin to further scale itself in terms of valuation. So we have to expect the coin to really hit the moon soon!