Apr 10, 2020

1 min read

Bitcoin Drops below $7k

The world is struggling with a painful but short-lived crisis. For the first time during the past four years, Bitcoin price has dropped below $7k and is claimed to continue to decrease in value during weeks ahead.

Business shutdown during recent coronavirus pandemic is deep and may lead to a great recession. Global economy also is gripped in fear and assets continue to decrease in value. It has been claimed that the Bitcoin price will face a sharp decline in near future.

Based on figures and charts depicted to predict Bitcoin price, Bitcoin price dropped $200 in minutes on April 10. It is the most volatile of prices dropping from $7k to $6.9k and it might expect low $6.300 during the week.

Bitcoin Cash and Bitcoin SV are down nearly 10% while Ether dropped roughly 5.3%. The total market capitalization has also slid below $200 billion.

Is it merely an economic hoax or a natural reaction to the global market? It seems that in near future Bitcoin prices will appear more stable in global markets.