Bitcoin and Gold climbed higher on Monday after Federal Reserve’s Chairman Jerome Powell warned that the U.S. assets could experience more hardships from the coronavirus pandemic.
Economic activities that depend on larger social gatherings, including travel and entertainment, could suffer the most, Powell said in an interview with CBS’s 60 Minutes. He also noted that it would be hard for the public to become active money spenders unless researchers develop a vaccine, adding it would lead the U.S. economy on a path to a slower recovery – until 2021.