Bitcoin under Volatility Grips

Cryptocoin (Digital Currency) volatility alert. Bitcoin plummeted to its lowest in almost a year on Friday before rebounding sharply, as coronavirus panic selling hit asset classes across global markets.

In highly volatile trading, bitcoin BTC=BTSP fell over 20% to around $3,850 in overnight trading, its lowest since March last year, before clawing back some of its losses. It was last up 9% at $5,270. At the moment Bitcoin trading around $ 5558 rate.

Read Also : Recession in Wall Street 

On Thursday, bitcoin suffered its worst daily loss in nearly seven years, losing almost 40% as the rout of major stock markets over the economic impact of the coronavirus outbreak spread to cryptocurrencies.

Bitcoin has lost around 60% of its value since Saturday, underscoring its challenges in becoming a usable currency.

(News Source LinkReuters )

Tags : Bitcoin Price Drop alertBitcoin trading strategy todayCoronavirus impact on BitcoinCoronavirus Pandemic
Avishek Rajbanshi

The author Avishek Rajbanshi

Avishek is news author in sports and technologies categories. He is also an author in other news websites.

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