- Daily Bitcoin Price Analysis: The Fall In The Asian Markets And The Rise Of Bitcoin
Yesterday Bitcoin began growing again and moved up by $43 from the level of $380 to $423.
The reason for this was another fall in Asian markets on Wednesday, January 20 2016. Japan's Nikkei fell 3.7%. In Hong Kong, the Hang Seng Index also fell by 3.7%. Moreover, Hong Kong Dollar rates also decreased.
The Chinese stock market has also spent the last day in recession. The Shanghai Composite fell by 0.9% and continues falling. The market in South Korea fell by 2.3%. The MSCI index of Asia-Pacific dropped to its lowest level since 2011 – falling by 2.6%.
Also yesterday, the price per barrel of Brent oil was lowered to the level of $28. Obviously, the reduction in oil prices was the reason for decline in Asian markets.
Meanwhile, Bitcoin’s price increased again, thanks to a fall on the stock markets. This once again proves investors' trust in Bitcoin in times of crisis. That in turn gives reason to believe that Bitcoin has a great potential for growth.
Read more :
http://cointelegraph.com/news/116106/daily-bitcoin-price-analysis-the-fall-in-the-asian-markets-and-the-rise-of-bitcoin
