Bitcoin (BTC) price below $8000 again, it is one of the most severe drops that pulled other cryptocurrencies along with it. On March 12 the Bitcoin dipped down to $4290 from a little over $8000. The following day, the bitcoin dropped to the lowest of recent times which is $3637 but it leaped back to $5200 shortly. During a month of 2019, the Bitcoin price was near $12000 at that stage bitcoin pulled down prices of other cryptocurrencies along with it.
On March 4, 2020, the news of the Supreme Court lifted the crypto ban was viral. Soon after this news, we heard about Bitcoin broke Above $9,000.
Coronavirus effect
However, it seems like there is no direct relationship between coronavirus and cryptocurrencies. The economy affected by the coronavirus is doing damage to cryptocurrencies. The bitcoin recovered to $5000 within minutes but it gives a hint about possible drastic changes in the near future. Many experts claim bitcoin prices won’t be high as it was in last year in the near future.
From the Cryptocurrency Act of 2020 to When Will Bitcoin Join the Defi Revolution? February-March 2020 was the month we had much news related to Bitcoin.
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