Bitcoin lost almost half its value in 24 hours

Tonight, the first cryptocurrency on the market, Bitcoin, fell below $ 4,000 around 3 a.m., losing near the half of his value in just 24 hours.

At its lowest price observed ($ 3,932), Bitcoin posted losses of about 49% from its price of ~ $ 7,700 at the start of the day. The digital coin was also exchanged at its lowest level in almost a year.

At the time of posting of this ticket, the Bitcoin (BTC) price has since rebounded and is now moving around $ 5,120. The market capitalization, the total value of the entire cryptocurrency market, is today less than $ 150 billion.

The collapse in prices is occurring in a context of wider liquidation on traditional stock markets. The epidemic of Covid-19 coronavirus, reclassified as pandemic by WHO, is progressing all around the planet and worries investors.

For Asim Ahmad, founding partner of the specialized London investment fund Eterna Capital, this decrease represents an opportunity, in the long term, to acquire tokens at attractive prices.

In the short term, we expect the price of Bitcoin follows market sentiment driven by monetary and fiscal policies in response to developments in the Covid-19“, He warns.

The cryptocurrency market could thus continue to fall depending on the impact of the virus on the global economy and the next government action.