Bitcoin price correlating tool during the coronavirus pandemic has been created

Thanks to the new tool, users can track the activity of traditional and cryptocurrency markets in the context of the coronavirus pandemic.

The analytical agency Messari announced the creation of tools to track the correlation of traditional and cryptocurrency financial markets against the backdrop of a raging coronavirus pandemic.

According to the founder of the agency, Brian Selkis, users can now also track the correlation of cryptocurrency prices with the US dollar and forex, raw materials, as well as other precious metals.

Messari reports that the data is based on statistics provided by eodhistoricaldata.com and is limited to daily intervals.

Covid-19 coronavirus data allows users to chart cases and deaths worldwide and for individual countries.

Pandemic correlation – At the time of writing, the number of people infected with coronavirus is more than 605 thousand people, while the number of deaths is more than 27 thousand people.

The sudden outbreak of the coronavirus provoked a panic not only in the tourism industry, but also in the financial markets: traditional and cryptocurrency.

The main surprise was the response of Bitcoin to a panic in the financial markets. The digital asset, which until recently was considered a “protective asset” against panic in traditional financial markets, could not resist the massive sale of shares, as a result of which Bitcoin collapsed to almost $ 3,700 earlier in March.

As a result of the comprehensive fear of a world recession and a crisis worse than the Great Depression, the organizers of large cryptocurrency summits began to cancel industry conferences, and the founders of the projects began to urge people to stay home.

Non-stop business – Even despite the unstable position of Bitcoin and the global economy, not all companies go towards customers.

For example, many American traders complain that despite the difficult economic situation in the country, the popular American cryptocurrency exchange Coinbase still charges excessively high commissions than those of its closest competitors.

The situation with the popular OTC transaction service, LocalBitcoins, turned out to be much worse.

Earlier, it was reported that the service decided to “freeze” the wallets of users located in the foci of coronavirus distribution.

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Meanwhile, Ripple management announced the allocation of $ 200 thousand to support victims of coronavirus infection.

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