Bitcoin price drops below $9k after news of coronavirus infections in Italy

Bitcoin prices continue to slide, falling below the US$9,000 [AU$13,700] level following the sustained sell-off by investors due to fear of the coronavirus. This most recent drop comes just days after northern Italy became the scene of Europe’s biggest outbreak of the virus to date.

Meanwhile, the Italian government has quickly imposed measures to contain the spread of the deadly virus. Among them are the prohibition of public events and the closure of public buildings in at least 10 towns in the northern regions of Lombardy and Veneto.

According to Italian Health Minister Roberto Speranza, they issued advisory asking residents in the affected areas to stay at their homes to prevent the further spread of the disease. He said,

“We are asking basically that everyone who has come from areas stricken by the epidemic to remain under a mandatory house stay.”

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