Bitcoin is sagging – look

Johannes Brinkmann

The price of the cryptocurrency Bitcoin dropped sharply on Thursday. The crash that started last weekend continues inexorably.

Many investors have abandoned the idea of an attractive investment alternative in turbulent stock market times. On Thursday afternoon, Bitcoin was trading on the European trading platform Bitstamp at times below $ 6,000, the lowest level since May 2019.

It was only in January that the cryptocurrency made another attempt to reach the annual highs of just under $ 13,000 reached in summer 2019. In mid-February 2020, however, the price was around $ 10,500.

Since then, the cryptocurrency has not been spared the upheavals on the world’s stock exchanges. Over the past week alone, Bitcoin has lost over 30 percent of its value. Market capitalization fell by over $ 30 billion to around $ 130 billion within a week.

The crisis surrounding the corona virus has now also reached the digital currency markets, comments Timo Emden. “It seems like someone has pulled the ground away from the digital currencies,” said the analyst from Emden Research.

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