Bitcoin slumps as global market turmoil infects cryptocurrencies

Bitcoin slumped on Thursday to its lowest in more than two months, with traders citing a sell-off across global markets as fears of the economic damage from the coronavirus pandemic take hold.

FILE PHOTO: Representation of the Bitcoin virtual currency standing on the PC motherboard is seen in this illustration picture, February 3, 2018. REUTERS/Dado Ruvic/Illustration/File photoLONDON: Bitcoin slumped on Thursday to its lowest in more than two months, with traders citing a sell-off across global markets as fears of the economic damage from the coronavirus pandemic take hold.

The biggest cryptocurrency fell 8.5per cent to US$7,250, its lowest since Jan. 3. It has lost nearly 20per cent of its value in the last five days, mirroring sharp losses for assets from stocks to oil."We've seen de-risking across all asset markets," said Jamie Farquhar, portfolio manager at London-based crypto firm NKB."Bitcoin is certainly not immune to that."

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Bear market fears grip global shares as pandemic declared, eyes on TrumpGlobal shares were set for a rocky ride on Tuesday as investors tally the economic damage of coronavirus, a day after the U.S. Dow Jones ...
Источник: ChannelNewsAsia - 🏆 6. / 66 Прочитайте больше »

Dow in bear market as global rout deepens on coronavirus fearsNEW YORK: Wall Street stocks suffered another bruising rout on Wednesday (Mar 11), with the Dow sinking into a bear market, as the economic toll ...
Источник: ChannelNewsAsia - 🏆 6. / 66 Прочитайте больше »