Bitcoin (BTC) closed the week at $8,024, a shocking 9.92% loss and a new weekly low not seen since January 13 when the asset traded for $7,946. The abrupt correction took place as DOW, S&P 500 and oil futures plummeted as investor fears over the economic impact of the coronavirus continue to intensify.
Dow futures dropped more than 1,200 points (4.6%), S&P 500 futures fell 4.89% and Brent Crude fell 30%. The volatility in oil futures appears to be driven by a growing disagreement between Saudi Arabia and Russia as the OPEC members debate whether or not cuts to crude oil production should increase as demand weakens across the globe.
Keep track of top crypto markets in real time hereContinue Reading on Coin Telegraph
Bloody Monday: Bitcoin Price Loses $8K, Oil -30%, DOW Futures Plunge
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.