Bitcoin price has plummeted by more than 20% to nearly $6,000. Thus, at 13:00 CET, the largest cryptocurrency by market cap is trading at $6,044.92, while this morning its price was $7,600, $1,600 higher.
It must be noted that the price of the reference crypto has fallen even more in several popular trading platforms. For instance, the BTC/USDT pair has fallen to $5,500 on Binance, while the BTC/USD pair dropped to $5,578 on Coinbase, while on BitMEX it has slid to $5,600.
The current drop is happening shortly after WHO director Adhanom Ghebreyesus recently announced the spread of the COVID-19 coronavirus infection worldwide "can be characterized as a pandemic," the first pandemic caused by coronavirus. He said the World Health Organization believes the number of infections and deaths will increase in the coming days.
At the same time, US President Donald Trump recently announced a ban on passenger flights from Europe. The ban, which came into force today, will remain in place for 30 days.
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