Bitcoin has lost 5 percent of its price in the past 24 hours. It seems Bitcoin is going in back gear as the previous month. At the same time, the US stock market closed its worst day since the March crash.
The Dow plunging nearly 1,800 points while it opened 5.7% lower and the S&P 500 opened 4.8% lower.
Market experts believe that this may be due to the fear of the second wave of Covid-19. In the meantime, the number of infected people in the United States alone has exceeded 2 million.
Market experts are also hearing the message of hope that this fear will soon go away.
Nicholas Pelecanos, Head of Trading at NEM said, “I'm expecting the crypto market to fall as the scales tip to the side of the bears. BTC has been unusually flat for the last few weeks so i'd expect this move to be of some magnitude much like a coiling spring,” Source:decrypt.co
Whatever it is, ordinary investors like us now have to trade carefully.