The corona outbreak has become a global pandemic which has resulted in the rise in the value of safe-haven assets like Gold and Silver have surged. The spread of COVID-19 from China has now started to hit nations all around the world.

The fear of this pandemic has come to an awareness, indicating a global emergency. Earlier today, Mati Greenspan, a crypto and financial analyst, tweeted.
<blockquote class="twitter-tweet">
Took a short position on the Nasdaq and long Gold before the weekend. Small money big leverage.
Guessing with the spread of Coronavirus and <a href="https://twitter.com/hashtag/FeelTheBern?src=hash&amp;ref_src=twsrc%5Etfw">#FeelTheBern</a> gaining ground, those positions will open in the money tonight.<a href="https://twitter.com/hashtag/HowtoProfitfromDisaster?src=hash&amp;ref_src=twsrc%5Etfw">#HowtoProfitfromDisaster</a>

— Mati Greenspan (@MatiGreenspan) <a href="https://twitter.com/MatiGreenspan/status/1231672360480145409?ref_src=twsrc%5Etfw">February 23, 2020</a></blockquote>
<h2>Corona Virus Causes A Significant Social And Economic Loss In China</h2>
Yesterday, the President of<a href="https://www.cryptoknowmics.com/crypto/china-confirms-it-doesnt-want-blockchain-for-all-payments/" target="_blank" rel="noopener"> China</a> noted that the virus outbreak had caused severe losses and significantly impacted the economy and society. The industrial output statistics of China for this month was due today. The slowdown of expenses and manufacturing production to control the approaches to reduce China's GDP growth from 6% to 2.5%.

As reported, the number of deaths due to the outbreak has surged to 2,442. As of yesterday, 76,936 infections were reported. As of now, Italy has reported more than 144 cases, while the USA and Iran reported 35 and 43 cases, respectively.
<h2>Can Bitcoin Also See The Surge In Its Price Like Gold</h2>
On the other hand, Bitcoins' demand as a<a href="https://www.cryptoknowmics.com/crypto/digital-assets-would-benefit-by-secs-regulatory-changes-sonnenshein/" target="_blank" rel="noopener"> safe-haven</a> seemed to face a great deal of resistance at $10,000. During the weekend, the price of Bitcoin saw a bullish spree. However, the opinions turned bearish after the price fell at CME's opening, and Japan and China on Monday.

Despite that, since the 2020's beginning, the price movements of<a href="https://www.cryptoknowmics.com/tag/bitcoin/" target="_blank" rel="noopener"> Bitcoin</a> have followed the global issues on a large scale than before (First Outbreak of Coronavirus and US-Iran Tension). Moreover, gold seemed to lead the gains before Bitcoin, as global problems have had a significant impact on its price.

Will Bitcoin Follow The High Gold Prices Due To Corona Outbreak

Yesterday, the President of China noted that the Corona outbreak had caused severe losses and significantly impacted the economy and society.

Shailesh is an ardent follower of the crypto world and keenly watches every development taking place in the cryptocurrency space. He loves to voice his opinions through well-curated blogs and articles, which throw light on different facets of the crypto industry.

Will Bitcoin Follow The High Gold Prices Due To Corona Outbreak

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