HOME CATEGORIES WRITE AND EARN ๐Ÿ”
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

VIX Points To Turbulent Week As Oil Prices Tank to Lowest in Two Decades

Other 2020/04/20 18:00 by Tony Spilotro
Traditional markets are on fire, going toe-to-toe with speculative cryptocurrencies like Bitcoin in terms of insane intraday volatility and enormous price movements. The latest shock is in oil prices, which fell this morning by over 40% to the lowest level in over two decades. The massive drop in coordination with drops across the stock market has caused this week’s VIX volatility index to surge by over 6.9% at open, suggesting that there’s much more turbulence across traditional markets in the week ahead. 20-Year-Lows: Oil Prices Fall 40% At Open, Down 80% Year-to-Date This morning when markets open, oil prices collapsed to the lowest prices in the past 20 years, and the Dow Jones Industrial Average fell by over 500 points as a result. Other stock market indexes also plunged following the news that the economy may not be reopening anytime soon. Oil prices dropped by over 40% at open, and are down over 80% year-to-date. The selloff could be partly responsible for causing Bitcoin to temporarily breach below $7,000 after the asset had spent the weekend trading above the key level. But the coronavirus continues to keep the economy at a standstill, as citizens across the globe stay quarantined to prevent further spread of the dangerous and deadly pandemic. Related Reading | Stock Market Prints TD9 Sell Signal, Correlated Bitcoin Could Plunge in Tandem Peak coronavirus concerns last month caused an epic selloff across all markets, setting record-breaking numbers across a variety of assets. Markets may soon be in for round two of the panic-induced selloff, according to the VIX volatility index. VIX Volatility Index Hints At Turbulent Week Ahead in Traditional Markets Starting off the week, the VIX has risen by 6.9% due to the extreme volatility in oil prices and the stock market, potentially signaling an extremely volatile week ahead. VIX is the Chicago Board Options Exchange’s CBOE Volatility Index, and it is currently down 50% from the high reached in mid-March on “Black Thursday” when the stock market, cryptocurrencies, and nearly every other asset in the finance world saw record-breaking collapses. The $$VIX begins the week +6.9% to 40.8. More turbulence ahead — Ted Darling (@tdarling1) April 20, 2020 The VIX has reached the highest levels since the 2008 economic recession but has yet to break the current record. Prior to this recent surge in volatility, the VIX only a handful of times over the last ten years reached over 40 โ€“ where the VIX is currently resting at ahead of what’s to come later this week. Related Reading | Gold Indicator Flips Green, Signaling Potential Decade of Uptrendย  The stock market and Bitcoin have rallied from recent lows, but it is done so all while the economy is still on thin ice, and the coronavirus has yet to peak.  

0 Like(s)



You should also read...

Altcoins 15/12/19 02:49 by Nick Chong
XRP Price Ready to See Strong Move; What Are Analysts Thinking?
While all eyes have been on Bitcoin as of late, it may be time to pay XRP some heed. A top analyst recently noted that the popular altcoin is on the verge of seeing a bout of strong volatility, with t...
Read More
Bitcoin 01/04/20 14:40 by Yashu Gola
Three Key Reasons Why Bitcoin Could Plunge Below $5,000 in April
Bitcoin prices plunged sharply over the first three months of the year as concerns about the global coronavirus pandemic and its impact on the economy grew. The benchmark cryptocurrency closed the yea...
Read More
Crypto 08/04/20 21:48 by News Desk
5 Reasons Why Crypto Will Get Through COVID-19 Outbreak
Since the novel coronavirus has been officially declared a pandemic, the crypto space has been flooded with negative opinions about the future credibility of digital assets. As the disease has spared...
Read More
Bitcoin 24/06/20 13:00 by Yashu Gola
A $9,000-Retest Likely for Bitcoin as BTIG Relays Negative S&P 500 Outlook
Bitcoin is at risk of plunging towards $9,000 on a negative outlook for the S&P 500 index. Wall Street firm BTIG LLC has warned that the U.S. benchmark could correct towards the lower end of its ...
Read More
Crypto 26/05/21 14:43 by NewsBTC
Crypto Volatility Index Helped Traders Profit During Market Crash
The cryptocurrency market’s recent crash left traders counting their losses, with $2.4 billion worth of positions liquidated in a matter of hours. The causes – crackdown measures in China,...
Read More