RATE Group | Bitcoin has tanked 50% in just 2 days amid coronavirus market panic | Currency News | Fi…
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Bitcoin has tanked 50% in just 2 days amid coronavirus market panic | Currency News | Fi…

13 Mar Bitcoin has tanked 50% in just 2 days amid coronavirus market panic | Currency News | Fi…

Posted at 13:44h in Cryptocurrency News by

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Bitcoin ATMREUTERS/Bogdan Cristel

  • Bitcoin has tanked as much as 50% in two days amid a major market rout over coronavirus concerns. 
  • The digital coin tumbled as much as 32% on Friday before paring some of those losses. 
  • “Investors are liquidating alternative assets such as Gold and Cryptocurrency to meet market obligations and build cash-reserves,” Matthew Dibb, co-founder and chief operating officer of Stack, told Business Insider in an email. 
  • Watch Bitcoin trade live on Markets Insider. 
  • Read more on Business Insider. 

Bitcoin is losing its luster as a safe-haven asset amid the coronavirus-induced market rout. 

The world’s largest cryptocurrency tumbled another 32% early Friday, falling to $3,915. That brings its total losses in the last two days to 50% — one of the largest drops on record for the digital coin. Bitcoin pared losses after the epic drop. 

The Bloomberg Galaxy Crypto Index fell as much as 49%, hitting a historic low. Other coins such as Ripple and Ethereum…

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