Bitcoin climbs back above $ 5000 in Corona Pandemic

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Bitcoin
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World’s first cryptocurrency, Bitcoin is trading again above psychological support level of 5000 $. Current market capitalisation of bitcoin stands at $ 95.87 billions.Total market value of cryptocurrency is $152.48 B as of toady.

Bitcoin had suffered steep losses on 12 and 13 March due to fear caused by Corona pandemic in global economies. Recent data showed 142,649 Corona infected cases have been detected across the globe till now. On 12 ,it had reached a high of $ 7982.28 and reached a low of $ 4242.98 on 13 March. It means it eroded 46.84 percent price in just two days.On 12 and 13 march world’s major stock indices also saw increased volatility causing erosion of stock prices.

The cryptocurrency has recovered by 1000 $ and is currently trading at 5262.96 $. Bitcoin has a good support level around 3250-3400 $.

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