RATE Group | Bitcoin Price Crashing Due to Coronavirus Fear but Will BTC Hit $2K?
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Bitcoin Price Crashing Due to Coronavirus Fear but Will BTC Hit $2K?

15 Mar Bitcoin Price Crashing Due to Coronavirus Fear but Will BTC Hit $2K?

Posted at 02:05h in Bitcoin News by

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The price of Bitcoin (BTC) has seen a destructive week, as the price crashed 52% on one single day this week. One of the most massive crashes witnessed since the existence of Bitcoin.

Not only has Bitcoin been hitting hard during the week, but equity markets have also seen their worst week since 2008, and other safe havens gold & silver have seen a selloff. Cash is king, is the idea. However, are we continuing dropdowns, or are we temporarily done?

Crypto market daily performance. Source: Coin360

Crypto market daily performance. Source: Coin360

Bitcoin drops to $3,750 and bounces with $2,000 since

The volatility of all markets has been skyrocketing during the week, as the VIX (Volatility Index in the USA) is reaching levels not seen since Bitcoin was invented. Similarly, Bitcoin has seen a drop from $7,500 to $3,750, after which the price jumped up with $2,000 to $5,750 in the 24 hours after.

BTC USDT 1-day chart. Source: TradingView

BTC USDT 1-day chart. Source: TradingView

The daily time frame is showing the selloff from last week. It’s also showing which levels the…

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