Bitcoin Clings to $7.8K but WHO Pandemic Declaration Sinks Markets

As equities markets across the globe continue to post hefty losses, Bitcoin (BTC) traders fought to keep the digital asset above the $7,800 support. Less than an hour ago the Dow closed down more than 1,400 points and the S&P 500 posted a 4.89% loss as the World Health Organization officially announced that the Coronavirus is now classified as a pandemic.

The WHO announcement was followed by an ominous statement issued before the US Congress by Dr. Anthony S. Fauci, the director of the National Institute of Allergy and Infectious Diseases.

According to Dr. Fauci, the number of COVID-19 viral infections will continue to grow due to insufficient containment measures and contract tracing. Dr. Fauci told lawmakers that “it’s going to get worse” and he emphasized that:

“How much worse we’ll get will depend on our ability to do two things: to contain the influx of people who are infected coming from the outside, and the ability to contain and mitigate within our own country.”

Crypto…