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Markets Bleeding: Bitcoin Tumbles Below $5.5k

Markets Bleeding: Bitcoin Tumbles Below $5.5k
  • Over the past 24 hours, the entire crypto market has crashed with bitcoin currently trading just above the $5000 mark.
  • Whereas there were other factors in play, after the WHO classed coronavirus as a pandemic, the markets crashed.

Over the past 24 hours, the entire cryptocurrency market has completely crashed with the bitcoin price currently trading just above the $5000 mark. All major cryptocurrencies have fell significantly over the last day leaving many out of pocket.

Over the past few weeks, the whole crypto industry has been going through a significant amount of doubt and fear following the spread of the coronavirus. Whereas there were other factors in play, after the WHO classed the virus as a pandemic that the markets crashed.

The big three cryptocurrencies, Bitcoin, Ethereum and XRP are seeing massive drops in their price as the markets continue to this hour to see losses.

Many of the top hundred cryptocurrencies are also in the state of decline as the whole market is currently bleeding red.

The only cryptocurrency is in the space seems to be stablecoins.

Aside from a few inches of green from a handful of coins, the rest of the market is in a worse state than it’s been in, in months. We will report on this more as the day goes on.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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