Bitcoin jumps 18% as markets recover from selloff
Bitcoin jumped over 18% on Friday, recovering some of the sharp losses suffered earlier in the week.
The world’s most widespread cryptocurrency rebounded as the stock markets around the world remained volatile amid coronavirus uncertainty. Global stocks bounced back from a worldwide selloff as the European Union said it will set up a €37 billion investment initiative to tackle the COVID-19 outbreak and its impact on the economy, while the United States lawmakers are also expected to agree on a coronavirus aid package.
Bitcoin surged 18.08% against the dollar to sell for $5,762,80 at 10:41 am ET but was still over 35% down for the week due to coronavirus concerns. Meanwhile, Bitcoin Cash rallied 24.78% to go for $182.97 at 10:42 am ET and Bitcoin SV climbed 16.05% to change hands for $122.84 at 10:43 am ET. Bitcoin cash dropped 48% over the past seven days, while Bitcoin SV slid 50% in that period.
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