Catherine Coley, the CEO of Binance US, revealed that the coronavirus quarantine in Asia drove a surge in trade volume during an interview with Bloomberg on March 16.
On the subject of the recent correlation between Bitcoin (BTC) and the S&P 500, Coley asserts that both the traditional cryptocurrency markets are playing out a familiar long-term cycle.
She states that the markets are experiencing what she terms the “CRIC cycle” — where “crisis” yields a market “response,” followed by “improvements,” and then a return to “complacency,” before the cycle then repeats.
“So, in the regular traditional asset classes, as with Bitcoin, you’re seeing that complacency in the market turn into crisis, creating panic. That’s going to generate sell-off across the board.” Read More...