What Bitcoin has shown today will not please the many hellers and traders who bet long. Today we see a 27% drop and for a while we got up to 5 687 USD. The situation is serious.
[BTC / USD] In 2020 to present value: -13.71%
Shares in the US dropped significantly yesterday, the World Health Organization (WHO) pointed coronavirus as pandemia. The US stock index Dow Jones wrote off 5.86 percent to 23,553.22 points, the first time since the financial crisis 2008 entered the bear market. This is called a situation where the index descends at least 20 percent from its maximum.
The downturn has now passed to Bitcoin, which fell a little while up 27%, and we have not finished today. Today we got to $ 5,687. The situation on the world markets has a direct impact on Bitcoin, which, like the world markets, is failing on a large scale.
Yesterday in the market overview we wrote about the closest support at $ 7,000, at that time we were at $ 7,800. Today, the reality is different and we have to look at the $ 6,000 support. At the time of writing, we keep track of $ 6,100. If we do not keep this support, it is not excluded that we will fall to low in 2018 to 3 200 USD.
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