Coronavirus Panicking Leads To Bitcoin Hard Crash – 60% Within Hours – BTC Twitter Weight In With Pain & Humor

Coronavirus Panicking Leads To Hard Bitcoin Crash - 60% in Hours

A hard bitcoin crash due to coronavirus pandemic led to $100 million cryptocurrency market wipeout. Within a 24-hour period, BTC lost 60% of its trading value.

The first crypto asset was trading at more $9k before coronavirus started spreading throughout the United States. However, the panick due the pandemic turned the stock market and crypto market upside down.

Bitcoin crashed 60% in a matter of hours. The stock market witnessed its worst trading day since 1987. That was on Friday, March 13, 2020. BTC was trading for as low as $3,600 on some cryptocurrency exchanges.

Cryptocurrrencies and stocks began free falling after cities, states in the U.S. and more countries started reporting overwhelming Coronavirus (COVID-19) cases.

Bitcoin / cryptocurrency analyst predicted the crash

Andreas Antonopoulos, a famed bitcoin & crypto expert explained two months ago (January 1, 2020) why a bitcoin crash is emminent and why:

“What most people don’t realize I think is that, in the beginning at least, crypto will crash hard.”

Mr. Antonopoulos continued:

“And the reason it will crash hard is because a lot of the venture capital, corporate investments and private investment from individuals that is based on cheap money and disposable income and excess cash in portfolios etc., like in any other part of the economy, will dry up.”

While a number of “experts” scramble to explain the current crypto & bitcoin crash, Antonopoulos, for months tried to warn investors.

“When people get scared, when there is a recession like that, they pull back their investments, and they’re going to pull back from crypto too.”

Crypto Twitter debates & tries to cope with market onslaught

Some crypto analysts, traders and enthusiasts have taken to Twitter to ease each others’ pain with humor, while others tried to explain the sudden bitcoin crash.

Moreover, a few users looked at Bitcoin’s future outlook, suggesting BTC could have a hard time finding investors.

Others suggested cash is still king

Experience crypto analyst such as PlanB took a more analytic approach

Andreas indicated this crypto & bitcoin crash is part of growing up

Andreas continued:

Just about a week ago, Bitcoin (BTC) was in the verge of breaking $10,000 per coin. It has since recovered gained a little momentum, currently trading at $5,287. However, BTC and the entire cryptocurrency market remains volatile and may behave that way until this disease is contained.

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