Bitcoin Price Slips Below $7.4K to 2020 Lows After Trump Europe Ban

Bitcoin (BTC) fell to around its lowest levels this year on March 12 as another wave of coronavirus panic gripped both cryptocurrency and traditional markets.

Cryptocurrency market daily overview. Source: Coin360

BTC price sheds another 7%

Data from Coin360 and Cointelegraph Markets showed BTC/USD sliding under $7,400 on Tuesday. The last time such levels were seen was on Jan. 3.

Bitcoin 1-day price chart. Source: Coin360

At press time, the pair circled $7,330 as it reacted to news that U.S. President Donald Trump had halted all travel to mainland Europe for 30 days. 

Trump, who had previously denied that coronavirus was a threat, maintained that the risk to most Americans was “very, very low.”

This was not enough to calm markets, however, with the Dow Jones abruptly shedding 20% of its recent highs. In London, which is excluded from the travel ban, the FTSE opened down 5.1%.

Hash rate slips from highs

As Cointelegraph reported, analysts now broadly expect Bitcoin to move in step with…