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Gold Rises, Bitcoin Drops as Trumps Test Positive for COVID-19

Donald Trump. Supply: a screenshot, Instagram/realdonaldtrump

US President Donald Trump confirmed that he and First Woman Melania Trump have each examined constructive for COVID-19. Following the information, bitcoin (BTC) dropped and gold rose within the markets.

The President and the First Woman reportedly contracted the virus after Hope Hicks, often called one of many President’s closest advisors, was confirmed to have the virus shortly after all of them flew collectively from Washington DC to Cleveland, Ohio for the primary presidential debate on September 29.

Instantly following Trump’s tweet, each bitcoin and the normal safe-haven asset gold noticed elevated volatility, though in reverse instructions. Whereas gold’s preliminary response was to maneuver larger, bitcoin reacted by going decrease. Additionally, shares dropped, the US greenback climbed following the information.

As of press time (05:49 UTC) – roughly 1 hour after Trump shared the information on Twitter – bitcoin was down by 3.45% over the previous 24 hours, and 1.5% within the hour for the reason that information broke, buying and selling at USD 10,462.

In the meantime, gold was up by 0.88% in the course of the hour for the reason that information broke, at the moment buying and selling at USD 1,906 after having damaged via the important thing USD 1,900 degree on robust upwards momentum.

Gold Rises, Bitcoin Drops as Trumps Test Positive for COVID-19 102
Bitcoin (high chart) and gold (backside chart) reacted by buying and selling in reverse instructions. Supply: www.tradingview.com

With only some weeks till the presidential election November 3, the information that Trump has contracted the virus might probably have implications for the election.

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Be taught extra: Trump Misplaced and Bitcoin Gained First Presidential Debate – Cryptoverse


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