Bitcoin: Coronavirus Outbreak Poses Threat To BTC (February 2020)



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Bitcoin: Coronavirus Outbreak Poses Threat To BTC (February 2020)

Bitcoin Futures started the week in green as Bitcoin had been trading above $10k when it started trading. That left a gap to the downside and just when traders were led into thinking that perhaps the market was headed higher, it started to decline sharply below $10k to fill that gap. BTC/USD continues to trade below $10k and we may now be looking at the beginning of a more aggressive downtrend as the world reacts to the Coronavirus outbreak in Europe that worsened over the weekend. We also saw people in Milan, Italy rush to supermarkets to panic buy food supplies. Empty shelves were seen in many stores and there has been a marked decrease in movement and other activities in most parts of the country.

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