Bitcoin Is Emerging as a Safe Haven in Times of Crisis

The behavior of Bitcoin is increasingly correlated with that of gold.

At the end of January, China is making headlines around the world. A new coronavirus appeared in the city of Wuhan in mid-January. While the Chinese authorities have downplayed the importance of this virus by claiming that it remains localized, the events of the past week have clearly changed the situation.

This new coronavirus is now spreading over a much wider area as cases have been reported from outside China and even Asia. In particular, the first cases have just appeared in Europe and the United States.

The number of patients now exceeds 3,000 and the number of deaths exceeds 100. In order to contain this virus, the Chinese authorities have decided to close the population of three major cities.

More than 20 million people have been quarantined and population movements related to the Chinese New Year have been restricted.