Bitcoin Closes Above $8.5K as Dr. Doom Says Traders Want ‘Miracles’

Bitcoin (BTC) was trading higher on Mar. 2 after a lackluster weekend saw markets fall below $8,500 for the second time in a week.

Cryptocurrency market daily overview. Source: Coin360

Dr. Doom slams traditional investors

Data from Coin360 and Cointelegraph Markets showed slightly more promising conditions for BTC/USD as Monday began, the pair trading at around $8,600.

24-hour lows had reversed at $8,465, but compared to the start of last week, Bitcoin was still down by more than 11%.

Bitcoin 1-day price chart. Source: Coin360

Coronavirus continued to weigh on sentiment, with its spread around the world stalking traditional markets. As Cointelegraph reported, last week, the Dow Jones saw its biggest daily drop in history, while gold shed more in a day than on any other since 2013. 

Even Nouriel Roubini, the economist known as “Dr. Doom” for, among other things, his highly negative stance on Bitcoin, expressed major concern.

In an interview with German news magazine Der Spiegel on…