Bitcoin falls 17% in 1 hour below $ 6,000 for Coronavirus

Coronavirus is the last straw for Bitcoin, as the BTC/USD pair is reaching a mere $6,300 in less than 24 hours.

Coronavirus

The Bitcoin price (BTC) suffered further dramatic losses on March 12, falling below USD 6,000 for the first time since May 2019.

Data from Coin360 and Cointelegraph Markets summed up the gloomy day for Bitcoin traders; the price of the BTC/USD pair hit a low of USD 6,000.

The “selloff” intensified until Thursday, with 24-hour losses reaching 20% on some exchanges.

Bitcoin one-day price chart. Source: Coin360.

“And that looks like a capitulation to me,” summarized businessman Alistair Milne on Twitter.

As Cointelegraph reported, several analysts, including BitMEX CEO Arthur Hayes, believe that Bitcoin’s new support is likely to be at the $6,000 mark.

Altcoins continue to register large losses in all areas, as cryptosystems move at the same pace as the panic in traditional markets due to the measures that the United States is enacting against coronavirus.

You can check the current Bitcoin price in the list below.

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