A new strain of Covid-19 has completely changed the situation in the financial markets. The S&P 500 is dropping, despite the good news that Republicans and Democrats are reaching an agreement on a new relief package. If countries start to impose strict lockdown, the stock market may follow the March scenario.
Oil has faced the biggest drop, which brings down the oil stocks. The new lockdowns could put a stop to the hopes of a recovering demand in 2021.
As for Bitcoin, it responded to the bad news with a rapid drop to $21,800. But then the cryptocurrency market made a U-turn and the price is going up again. The upward trend could sustain under certain conditions.
see also:
Bitcoin: IT’S JUST THE BEGINNING OF GROWTH. BTC rose 20% in 36 hours. To The Moon confirmed –
A New Turn in US History. Trump won’t let Biden win. US Election. Stock Market –
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