RATE Group | Bitcoin is Tanking Despite Coronavirus Fears, Showing Lack of Characteristics as Safe Ha…
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Bitcoin is Tanking Despite Coronavirus Fears, Showing Lack of Characteristics as Safe Ha…

24 Jan Bitcoin is Tanking Despite Coronavirus Fears, Showing Lack of Characteristics as Safe Ha…

Posted at 12:16h in Bitcoin News by

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Bitcoin prices on Friday are plunging after marking their highest levels in over two months, hurt by an improving outlook of the eurozone economy, the stronger dollar, and – none the least – the Coronavirus outbreak in China.

The benchmark cryptocurrency’s spot rate fell by 1.66 percent to $8,246.14 as of 11:20 UTC today. At the same time, its futures listed on Chicago Mercantile Exchange (CME) slipped 1.49 percent to trade at $8,245. The moves downhill put bitcoin at the risk of closing this week in red, it’s first negative session since January 6.

bitcoin, cryptocurrency

Bitcoin ends winning streak as demand fades at local top | Source: TradingView.com, Coinbase

Global Market Reassesses Coronavirus Risks

Bitcoin’s losses appeared as investors’ appetite in risk-on markets improved on Friday, for they brushed aside fears of the economic impact of the Coronavirus and embraced more-than-expected manufacturing data from Germany and France.

The European stocks rose higher, with the Stoxx Europe 600…

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