Bitcoin (BTC) Price Tanking Again as Trump Expected to Declare National Emergency Over Coronavirus

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Fri, 03/13/2020 - 15:43
Alex Dovbnya
Bitcoin's most recent plunge to the $5,100 level coincided with Trump's announcing a press conference on the coronavirus
Cover image via www.shutterstock.com
Contents

The Bitcoin (BTC) price swiftly slumped back to the $5,300 level, shedding more than eight percent in minutes. After extending its losses, the cryptocurrency is trading at $5,141 on the Bitstamp exchange. 

image by tradingview.com

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Trump announces a press conference

The recent slump came after US President Donald Trump announced a press conference on the coronavirus. During this conference, the POTUS is expected to declare a national emergency over the pandemic.

In other news, Brazillian president Jair Bolsonaro, who met with Trump last week, has tested positive for the coronavirus, according to a Fox News report. However, his Facebook page denies it. 

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Markets feel anxious 

Notably, Bitcoin pared its gained together with the U.S. stock market. The Dow, which surged by more than six percent during after the opening bell, is now up only 1.71 percent.

As reported by U.Today, Bitcoin had its biggest daily price collapse since 2013. Meanwhile, the U.S. equities had their worst day since 1987.   

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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