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Bitcoin Dropped Dip Lowest Point In A Year




Bitcoin

The bitcoin dropped to below $4,000 early on Friday (March 13), according to report by CoinDesk.

Bitcoin will bounce back with risk assets, which will start seeing a sustainable recovery once there is stabilization in the coronavirus infection curve, "mike Alfred, co-founder, and CEO of Digital Assets Data told CoinDesk

As per the latest reports, coronavirus continues to spread in Europe and the U.S. therefore, the current uptick in the equity markets could be a chart-driven bounce or investors may have taken heart from the Federal Reserve's decision to inject $1.4 trillion worth of liquidity into the financial system.

If the recovery gathers momentum during the U.S. trading hours, bitcoin could very well find acceptance above $6,000 once more.

However, as long as the virus outbreak shows no signs of slowing down, the risk of further downside moves in equities and bitcoin would remain high. Read More


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