Bitcoin price collapsed 17% below $ 6,000 in a panic called "Corona virus"




Bitcoin price is facing an opportunity to break a chain of 3 consecutive months of decline in November


Bitcoin (BTC) crashed sharply on March 12 when the first digital currency witnessed a drop below $ 6,000 since May 2019.


Overview of the daily cryptocurrency market. Source: Coin360
Overview of the daily cryptocurrency market. Source: Coin360

Data from Coin360 and Cointelegraph Markets shows that Thursday was a very bad day for Bitcoin traders and investors, the BTC / USD pair touched a low of $ 6,000.


The strong sell-off over the last few days lasted until Thursday, with a 24-hour loss amounting to more than 20% on some major exchanges.


1-day chart of Bitcoin price. According to Coin360
1-day chart of Bitcoin price. According to Coin360

"And that looks like a surrender to me," wrote businessman Alistair Milne Twitter.


As previously reported, the CEO of the BitMEX derivatives exchange, Arthur Hayes, believes that Bitcoin's bottom is likely to be at $ 6,000 before rising to $ 20,000.


Following Bitcoin, the entire altcoin continues to record heavy losses on a large scale, as the cryptocurrency moves step by step with panic in traditional markets through measures against the U.S.-issued corona virus. onions.


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According to CoinTelegraph
Translated by ToiYeuBitcoin