Bitcoin Falling Alongside Stocks, Has it Failed the Safe Haven Test? – February 26

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $9,193

Bitcoin price has yet again continued its tumble, slipping 4% into the low $9,000s today.

Top-20 altcoins have done even worse, as Ethereum plummeted 8%, XRP 9%, and Bitcoin Cash 11%. TRON and Neo were the day’s worst performers, falling almost 12% a piece.

Top Stories for February 26, 2020 πŸ”₯

πŸ‘‰ Bitcoin Falling Alongside Stocks, Has it Failed the Safe Haven Test?

As the stock market has plummeted amid coronavirus concerns, Bitcoin has followed suit, calling into question its potential status as a safe haven asset.

Most cryptocurrencies have plummeted over the last two days too, however zooming out, Bitcoin is still up 34% for the year, and 640% in the last three years.

πŸ‘‰ Coinbase Notes Decline in Performance of EOS Network

Coinbase Exchange has pointed out lapses in EOS network performance multiple times in the last week, warning users of delayed transfers.

An EOS block producer, EOS Nation, responded saying that there were some problems associated with micro-forks, however the network can be completely relied upon and is functioning normally.

πŸ‘‰ Rise in IRS Crypto Prosecutions Forecasted by US Law Firm

A United States law firm, Klasing Associates, has predicted a significant rise in the number of lawsuits served by the IRS, to cryptocurrency tax-evaders.

The IRS had already added a cryptocurrency question on Form 1040, and is also reported to be focusing on cryptocurrency at their summit on March 3 this year.