Meanwhile, the gold price, a so-called safe haven asset that bitcoin has moved in tandem with in recent weeks, has also climbed as investors fret over the spreading coronavirus. The bitcoin price has recently begun moving in tandem with gold, raising hopes bitcoin has begun ... [+] acting as a so-called safe-haven asset. The bitcoin price defied market watchers over the Lunar New Year weekend after some suggested bitcoin trading volumes were set to "nose dive." Bitcoin bulls have been out in force over the last few weeks, with many hoping calendar highlights including May's bitcoin halving and hotly-anticipated upgrades to the bitcoin network could send bitcoin back to its all-time highs this year. The bitcoin price has climbed to year-to-date highs but is still far from its 2019 peak.

Source: Forbes January 29, 2020 16:32 UTC