Breaking: Bitcoin [BTC] Price Drops to $3800, Crashes Over 50%

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Bitcoin [BTC] price plummets to now lows for the year not very far from lows during the bear market of 2018.

After dropping by nearly 24% yesterday to test the 200-Weekly Moving Average around $5,500, the price took continues downturn at the beginning of the Asian trading hours dropping to lows at $3850.

The combined from drop from yesterdays’ opening around $8000 is 50%. The panic on economic assets has escalated far too quickly as the virus spreads violently across Europe and the US.

btcusd weekly chart
BTC/USD 1-Week Chart on Bitstamp (TradingView)

The price of Bitcoin [BTC] at 2: 30 hours UTC on 13th March 2020 is $4445. It is exhibiting a lot of volatility at the moment.

Gold is down $75 since the fall-over began, while S&P 500 closes at $2480 down 260 points (9.5%) on a single day.

Where do you the panic will find support? Please share your analysis with us. 

Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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