Saturday, August 12, 2017

Bitcoin Steady in Face of World War Three

Bitcoin Steady in Face of World War Three

Recent tension between the US and North Korea has played its part on the global market, rattling some of the major asset classes. However, not being pegged, or controlled by any centralized force, Bitcoin was totally unaffected by the news.


Overnight US stocks took a big tumble, leaving their calm waters and falling by one percent. Stocks in the UK and Europe were also down by more than one percent.


The very nature of Bitcoin and part of its appeal is that it does not feel volatility spikes caused by real world tension and worry. Building tension between nuclear superpowers spooks many assets and stocks but has had little effect on Bitcoin as its value actually rose slightly while traditional markets fell.


While the tension drove stocks down a percent, a large move for such steady assets, Bitcoin was trading around its new record high of $3,400.


Full story at http://bit.ly/2hQyMOz


Source: CoinTelegraph


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