RATE Group | BTC/USD breakdown to $7,000 imminent; Coronavirus now a global pandemic
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BTC/USD breakdown to $7,000 imminent; Coronavirus now a global pandemic

12 Mar BTC/USD breakdown to $7,000 imminent; Coronavirus now a global pandemic

Posted at 04:37h in Bitcoin News by

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  • Bitcoin price breaks down to test $7,500 support, pulling the entire crypto market into losses.
  • The WHO declared the deadly Coronavirus a global pandemic amid rising infections across the world.

Bitcoin price downward momentum has been unstoppable since the slide from levels above $9,000. Despite the mitigations put in place the buyers, selling activities continue to mount amid fears of the deadly Coronavirus. Bitcoin is trading above $7,600 after a shallow recovery from $7,572 (intraday low). The price teeters at $7,571 following 4.64% loss on the day. Bitcoin’s declines lag behind Ethereum’s 6.93% and Ripple’ $6.04%.

Coronavirus update

The World Health Organization (WHO) on Wednesday declared the Coronavirus a global pandemic. The virus continues to ravage through the European countries with Italy being the worst hit in the region. Cases of infections have topped 120,000 around the world with a death toll of more than 4,300. Many countries are…

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