Bitcoin (BTC) prices fell on Friday amid corona virus continues to spread to the UK and Russia – patients in these two countries tested positive for Wuhan virus. The downtrend of BTC also entailed major cryptocurrencies.
Within a day we witnessed the departure of the United Kingdom from the European Union (Brexit) and confirmed two cases of corona virus infection in the UK, the BTC / GBP pair (GBP) dropped by more than 3, 7% since midnight.
Looking at the 15-minute time frame, Bitcoin was trading near the £ 7,274 at midnight and began to decline gradually throughout the early morning.
Since 1:30 pm, the time when most US and UK media reported on coronavirus infection, Bitcoin's price trend of the day was very volatile. Top digital assets hit a daily low of £ 7,086 around 2:30 with a slight recovery to £ 7,086 (around 4 pm). Shortly thereafter, BTC finally fell back, nearly hitting a daily low at 4:50 pm.
As Toiyeubitcoin reported earlier, Bitcoin price has dropped after the corona virus was detected in the US and a similar effect seems to be happening to the price of BTC / GBP as health threats gradually spread across the globe. bridge. On the same page, the Dow Jones Industrial Average and the S&P 500 have fallen by more than 1% on the day.
Following the same trend, FTSE 100 – the main stock index of companies in the UK, has fallen by more than 1%. However, the GBP / USD exchange rate rose today, contrary to the trend of the global stock market and displayed an opposite behavior to Bitcoin.
The total capitalization of the entire cryptocurrency market is currently at $ 255.7 billion with Bitcoin's dominance rate reaching 66.2%. A small number of large cap altcoins also recorded losses. Most notably, Bitcoin SV (BSV) fell more than 8% and Bitcoin Cash (BCH) lost more than 5%. EOS is also down more than 5%. On the upside, NEM increased more than 8% and Ontology (ONT) increased 6%.
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According to CoinTelegraph
Translated by ToiYeuBitcoin