The crypto and stock markets are slowly showing signs of good health and are rising even as the coronavirus pandemic continues to spread. Many countries are still recording a steady increase in the number of confirmed cases but regardless, markets seem to be responding positively.
Bitcoin (BTC) hit $7,500 at some point today with Ether inching closer to $170. BTC has however corrected and is now trading below $7,200.
A similar bump is seen with the stock market as the Dow Jones climbed by 1,000 points and nearly hit 22,700.
This respite might be tied to recent announcements from a few countries, as they plan to relax restrictions earlier enforced to curb the virus’ spread. According to Austrian Chancellor Sebastian Kurz, restrictions for small shops will be lifted from April 14. Serious conditions for reopening will, however, be enforced. Other countries like Germany also plan to follow suit.
The UK is still completely locked down as Prime Minister Boris Johnson was recently hospitalized, days after testing positive for the virus. Hours after the hospitalization, he was reportedly moved to the intensive care unit.
In the U.S, a few states are also looking to slowly lift restrictions soon.
Just weeks ago, both the crypto and financial markets plunged as the COVID-19 pandemic worsened.