May Weekly Recap 1 April 28th – May 4th, 2020 Welcome to our 1st weekly recap for May. Overview Crypto News GOLD PRICE SURPASSES $1,700 AS CENTRAL BANKS EXPAND STIMULUS The spot price of gold surpassed the $1,700 mark after dipping more than 1% on Tuesday. The rise comes as central banks announced plans to expand monetary stimulus and jobless rates soar. BITCOIN OUTPERFORMS S&P500 Bitcoin is now outperforming the S&P 500 for the first time since the market crash in March and the equities sell-off that started in February. In a big 24-hour move, BTC crossed $8,000 and is currently trading at $8,592, up 10.5% at the time of writing. The S&P 500 is up 2.9% at 2,946. FEDERAL RESERVE CHAIR SAYS “WE WILL NOT RUN OUT OF MONEY” On Thursday, Federal Reserve Chair Jerome H. Powell explained what the central bank of the U.S. is currently doing and what it is prepared to do in the future to help the U.S. economy fight the economic impact of the COVID-19 pandemic.