The week begins with a negative trend for the main cryptocurrencies. Bitcoin is down about 6%, losing key support at $6,000, while Ethereum is sinking 7.2% to $125, according to the Binance panel.
Bitcoin has had a weekend of high volatility, with a trading range from $5,700 to $7,000. While some experts speak of a possible short-term recovery, others are so optimistic to us.
The Coronavirus pandemic continues to sweep the world, and no asset appears to be safe, at least so far.
Quote of the main cryptocurrencies in Binance
In the first hours of trading for the week, the main cryptocurrencies show a negative trend in the Binance trading panel.
The eye will be on Bitcoin's $6,000 barrier, where bulls and bears will battle to control that level. Difficult to make a prediction of who can win, since the volatility of the markets is the order of the day.
For its part, Ethereum is struggling to maintain the level of US $ 120 and Ripple of US $0.15. Litecoin for its part is trading above the key support of US $35.
To finish with the review of the main cryptocurrencies, BNB, the Token of the Binance Exchange, is down 8%, above the key draw of $10.
Everything hangs by a thread.
How did the international markets start the week?
We are at a crucial moment in the financial markets, where it is very important to follow many variables, to know where the money is going.
At the time of writing, the Tokyo stock market rose 1.8%, while the Shanghai stock market fell 1.6%. For its part, Wall Street futures operate with low averages of 4%. If this level is maintained, the opening of the American stock markets would be catastrophic.
For its part, oil is trading at US $22.78, with a drop of over 3%. Gold is trading at US $1,493, maintaining a negative short-term trend.
Will Trump save the markets?
Donald Trump will launch a $1 billion daily lifeguard for 30 days to the US economy. to withstand the Coronavirus crisis.
$1 trillion will be injected for 30 days, representing a $30 billion money creation. Believe it or not this amount of money is similar to many of the GDP of the Latin American region, and much higher than in other parts of the world.
Personally, I think this will be a week more than important for world markets, since the main countries of the world are understanding the impact that the Coronavirus will have on local economies, which at first glance would be very adverse.
In this scenario, Bitcoin may have a privileged place in the investors' portfolio, since money must move somewhere. Remember: "Money never sleeps."
