analytics News Jun 26, 2020

Prices for stocks, oil and cryptos in USA reflect panics around the coronavirus second wave

Stocks went through the worst day over the three months as market demonstrated public concerns about the possible second wave of coronavirus as some states had announced lifting of restrictions.

COVID-19 exposed fiat vulnerabilities

According to Elly Lee, the head of the investment strategy at the Bank of Singapore, possible re-election of the US President Donald Trump caused by the high risks of the coronavirus second wave raised market sentiments.

Due to that the amount of applications for unemployment allowance reached its two-time peak (exceeding unemployment during the Global Recession) amounting to 20.9 million. American stocks fell, and BTC price also showed decline.

The Dow Jones Industrial Average Index decreased by 6.9%, S & P 500 - by 5.9%, Nasdaq - by 5.3%. This tendency was the first three-day losing streak since the beginning of March when the corona pandemic started threatening the economy.

As Dan Daming, the managing director of KKM Financial, claimed, the recent growth of hospitalizations because of the pandemic has become the catalyst for grim prospects for the US central bank, “The point is that the market has probably outpaced itself, considering the fact that we have removed lockdowns too fast. The reality is that this would last longer than we expected”.

Oil futures are also declining the third consecutive day because of concerns about the world demand for energy that depended on the currencies of oil producers and the countries that rely heavily on export.

Oil benchmarks are also approaching their first decline over the recent seven weeks.

Bitcoin struggled to return $10K as its price had decreased to $9100 after the fluctuations around $9500 during the week. The crypto price is falling sharply as institutional investors feel insecure regarding the market due to the crisis.

Bloomberg published a report on cryptocurrencies in June, 2020, supposing that COVID-19 pandemic pushes Bitcoin maturity, and it prevails over the stock market.

As BTC is moving towards becoming the digital equivalent for gold, its volatility remains to be the lowest in all of the history with respect to crude oil that points at that crypto is entering the leading market.

While the Federal Reserve is considering the opportunity of launching digital dollar, Libra Facebook is attracting public attention, in particular due to hiring three high-level leaders with high level of competence.

Goldman Sachs predictions

Goldman Sachs predictions

The Chinese yuan is also moving towards the biggest daily decline over the 2 week that follows the predictions of Goldman Sachs analytics. It is expected that yuan will fall to the lowest level since 2008 in the coming months because of the current trading war between USA and China, and the potential sanctions imposed against PRC because of Hong Kong.

Goldman Sachs predicts the yuan decrease to $7.25 in the three months, after that it would recover to $7.15 in the following six months, and to $7 in the next year. Since the firm sees that yuan is falling to its minimum of 2008, BTC chances to face explosive price rally are rather high.

Bitcoin is suitable for people who want to get around the strict supervision of funds being sent abroad within China. Previously PRC prohibited local investors trading BTC and other cryptos, although the country is welcoming blockchain development.

SPACEBOT

Author of the article

How to register a new users on SPACEBOT?

Registration on SPACEBOT is available only via the referral link which you can get after bonding 100 coins to the pool.

In order to get the link through the Telegram bot:
1. Send 100 coins to the wallet given by the bot: Wallet – Deposit
2. Bond 100 coins to the pool: Wallet – Deposit for paramining
3. Skip to ‘Affiliate program’ section and copy your referral link
4. Now you can share your referral link and invite new users

In order to get the link through iOS/Android:
1. Send 100 coins to the wallet given by the App: Home screen – Refill
2. Bond 100 coins to the pool: Home scren – Bond
3. Skip to ‘Affiliate program’ section and copy your referral link
4. Now you can share your link and invite new users

How to install the iOS App?

To install the App

1. Follow the link:

https://apps.apple.com/ru/app/spacebot/id1498907599

2. Сlick ‘Install’ and follow the standard steps to install the App on your device

3. If you are a new user – press ‘Register’ (you need to indicate your inviter; find your inviter`s ID or get a referral link in the ‘How to register a new user’ section)

4. If you already have your SPACEBOT Telegram account you need to link it to email. You may find how to do it in ‘How to link email to your SPACEBOT account?’ section.

How to install Android App?

To install the App:
1. Follow the link:

https://play.google.com/store/apps/details?id=space.bot.mobile

2. Press ‘install’ and follow the standard steps to install the App on your device.

3. If you are a new user – press ‘register’ (you need to indicate your inviter; find your inviter`s ID or get a referral link in the ‘How to register a new user’ section)

4. If you already have your Telegram SPACEBOT account you need to link it to email. You may find how to do it in ‘How to link email to your SPACEBOT account?’

How to top up your balance?

Top up your balance with Telegram bot:
1. Go to ‘Wallet’ section
2. Press ‘Deposit’
3. Copy the wallets sent to you (be careful not to copy extra symbols)
4. Transfer coins to the copied wallet adress

Top up your balance with iOS/Android App:
1. Press ‘Top up’ on the mail screen
2. Copy the wallets sent to you (be careful not to copy extra symbols)
3. Transfer coins to the copied wallet adress

* Track transaction on the blockchain:
PRIZM – https://prizmexplorer.com
BIP/BTT – https://explorer.minter.network

**Please note that depositing of coins requires certain number of confirmations in the network and it takes time to process a transaction with our algorightm

***Also note that many exchanges and wallets services carry out transfers with delay (on some exchanges it can take up to 72 hours), and you shouldn`t worry since this is a stadard procedure.

How to bond coins to the SPACEBOT pool?

For bonding coins to the pool with Telegram bot:

1. Top up your balance (you will find how to do that in ‘How to top up your balance’ section).
2. Skip to ‘Wallet’ section
3. Press ‘Deposit for paramining’
4. Enter the amount*, note that this amount should be available in your main account
*For the first bonding: no less than 100 coins
For the second and subsequent bondings: at least 1 coin.
5. Confirm the amount, and the bot will send you a notification about the successful bonding (or ‘error’ will appear in case you have insufficient funds or the amount was entered incorrectly).

For bonding coins to the pool with iOS/Android App:
1. Chose the cryptocurrency on mail screen by scrolling to the left (PRIZM/BIP/BTT)
2. Once you`ve chosen the coin press ‘Bond’ on home screen
3. Enter the amount*, note that this amount should be available in your mail account
*For the first bonding: not less than 100 coins
For the second and subsequent bondings: at least 1 coin.
4. Confirm the amount, and the bot will send you a notification about the successful bonding, and your balance in the ‘Bonded’ field will change (or ‘error’ will appear in case you have insufficient funds or the amount was entered incorrectly).

**Attention! The first bonding of coins will take 24 hours, and only then the mined coins will be assessed.
The second and subsequent bondings will take 48 hours. It means that after the second bonding to the pool the mined coins will be assessed in 48 hours.