Bitcoin Price Crashes 17% in 1 Hour Below $6K in Coronavirus Panic

Bitcoin News

Bitcoin (BTC) made further dramatic losses on March 12, falling below $6,000 for the first time since May 2019. 

Cryptocurrency market daily overview. Source: Coin360

Data from Coin360 and Cointelegraph Markets summarized the grim day for Bitcoin traders as BTC/USD hit lows of $6,000.

The selloff intensified through Thursday, with 24-hour losses hitting 20% on some exchanges.

Bitcoin 1-day price chart. Source: Coin360

“And that looks like capitulation to me,” entrepreneur Alistair Milne summarized on Twitter.

As Cointelegraph reported, various analysts, including BitMEX CEO Arthur Hayes, believe the likely bottom for Bitcoin lies at $6,000. 

Altcoins continue to see heavy losses across the board, as cryptocurrencies move in step with panic on traditional markets over coronavirus measures enacted by the United States.

Keep track of top crypto markets in real time here

Products You May Like

Articles You May Like

Idealistic Ethereum community-built zkEVM Scroll launching in weeks
Bitcoin fails to recoup post-Fed losses as $20K BTC price returns to radar
Malta begins public consultation on revised crypto rules to align with MiCA
JPEX staff flee event as scandal hits, Mt. Gox woes, Diners Club crypto: Asia Express
Coinbase holds 5% of all Bitcoin in existence: Data

Leave a Reply

Your email address will not be published. Required fields are marked *