Bitcoin succumbed to a frantic market sale with a downward movement of 27% with a price sliding below the support level of $ 5900.
The world’s largest cryptocurrency is now in unknown territory and is trading at its lowest point since April 2019.
expected below $ 6,000 as traders try to “buy the low”, although the momentum certainly seems to have gone down. have certainly gone down.
The sale was reflected in all digital assets, Ethereum falling 30% to $ 140 while the XRP fell to $ 0.13.
The accident was attributed to heightened fears surrounding the coronavirus, with several countries effectively locking regions to stem the flow of the virus.
This caused a cataclysmic crash in global stock markets with the S & P500 falling below 2614 after peaking at 3399 last month.
Bitcoin has often been touted as a safe haven, although the recent drop in its price will no doubt scare potential investors as they may choose to invest in gold, which has remained relatively stable and bullish.
Panic has certainly seeped into all of the global capital markets, with Bitcoin price targets starting to emerge at $ 4,850 and $ 3,150.
From a short-term perspective, Bitcoin needs to return above the $ 6,400 resistance level, with daily candlestick closing tonight being critical.
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Bitcoin pricing
About Bitcoin
In August 2008, the domain name bitcoin.org was registered. On October 31, 2008, an article was published titled “Bitcoin: A Peer-to-Peer Electronic Payment System”. This was written by Satoshi Nakamoto, the inventor of Bitcoin. To date, no one knows who these people are.
The document describes a method of using a P2P network for electronic transactions without “relying on trust”. On January 3, 2009, the Bitcoin network was born. Nakamoto mined the block number “0” (or the “genesis block”), which had a reward of 50 Bitcoins.
More BTC news and information
cryptocurrencies& nbsp; in general, then use the search box at the top of this page. & nbsp;Here’s an article to get you started.“data-reactid =” 45 “> If you want to learn more about Bitcoin or cryptocurrencies in general, use the search box at the top of this page. Here is an article to help you get started.
As with any investment, it’s worth doing your homework before you part with your money. Cryptocurrency prices are volatile and go up and down quickly. This page does not recommend a particular currency or whether you should invest or not.
