Bitcoin escapes global stock market panic plunge

Absrtact: June 21 News, according to foreign media reports, the U.S. stocks in Thursday, the largest single day since 2011 decline, but the price of Bitcoin trading stability. As the Fed chairman says it will cut the size of its debt purchases later this year, and reports of the Chinese economy tend to be negative

June 21 News, according to foreign media reports, the U.S. stocks in Thursday, the largest single day since 2011 decline, but the price of Bitcoin trading stability.

As the Fed chairman says it will cut the size of its debt purchases later this year, and reports of the Chinese economy tend to be negative, capital markets are showing a rare variety of declines. The media have used "turbulence" and suffered "blood bath" to describe the stock market's decline in the past two days.

However, at the Mt.Gox bitcoin Trading Center, the price of Bitcoin trading in Beijing time this morning reported 112.99 U.S. dollars, up 4.8% from the close of Wednesday. In contrast to other investment instruments, gold futures fell by 6% in Thursday, the Dow Jones Industrial Average tumbled 2.3% and crude oil futures fell 2.9%. Only the dollar continued to be strong and continues to be one of the few profitable investment vehicles.

In the Wednesday, large-area sales of the air, which has always been known as a sharp trading volatility, also avoided the fate of a sharp fall. Bitcoin traded at $107.82 in Wednesday, compared with $106.91 in Tuesday, with less than 1% per cent. By comparison, the Dow Jones Industrial average fell 1.4% over the same period. As prices fell, the yield on the 10-year Treasury note rose 15 basis points to 2.334% in the afternoon of Wednesday.

The trend to stabilise Bitcoin trading prices emerged last week. At the time, the dollar fell 3.4% against the yen, while Japanese stocks fell 1.5%. The price of bitcoin has fallen by about 10% per cent, trading at a much more stable rate than the 70% drop in April.

Adam Rabie, founder of Gold.net, told the media that the stability of Bitcoin trading had improved and that there was a short-term balance in the market. The big swings in past trading prices were the result of popular interest, and the limited support that the Bitcoin provider could provide was not enough to support the public buying spree. It is noteworthy that the price of bitcoin has risen by 700% per cent this year after a sharp fall in the early years, while price stability is improving as the transaction is transparent and convenient.

However, technical challenges remain. Mt.Gox announced in Thursday that all U.S. dollar accounts would be suspended for two weeks because of the rise in volume.