Bitcoin continues to add one more proof: there is no asset called a safe haven in the current global market context. The largest digital ...
Bitcoin continues to add one more proof: there is no asset called a safe haven in the current global market context.
The largest digital currency in the world continued to evaporate in Asia during the trading session on March 13, extending the bloodbath of the previous day.
Bitcoin has dropped by 32% to 3195 USD / coin. This is the weakest level since March 2019. Over the past two days, Bitcoin has lost nearly 50% of its value and is an unprecedented drop in history.
Wayne Trench, director of a crypto brokerage center, said the call margin caused mass sell-offs. This led Bitcoin and a number of other cryptocurrencies to plunge. Not only the cryptocurrency, the impact of the current sell-off also affects gold, which is considered a safe haven.
In recent weeks, the global market has been continuously shaking by the spread of corona virus, as well as the comprehensive oil price war between Russia and Saudi Arabia.
Recently, President Trump has suspended all flights from the EU to the US, making panic worse.
Ending yesterday, the Dow Jones has lost nearly 10% in value while the S&P 500 has dropped the most since 1987. Meanwhile, VIX, the capital index is considered as a measure of fear of Investors increased to 75.47 points. It was close to 80 points of the global financial crisis 12 years ago.
Compared to February highs, Bitcoin has lost nearly 50% of its value. Before that, Bitcoin in particular and the cryptocurrency market in general had a good increase since the beginning of the year. Investors are counting on limiting further mining of Bitcoin to stabilize the price.
Mr. Nerd
