BTC Dropped on News About the Highly Infectious New Strain of COVID-19

Bitcoin’s price dropped by 6% on Monday, while the major equity indices sharply corrected to be due to the reported emergence of a mutated coronavirus strain in the UK. Furthermore, the Bitcoin’s movement seems closely joined with the traditional markets again in recent days. The uncertainty from the virus might continuously impact the crypto market, as seen in March. Therefore, we expect bitcoin correction is not over yet. It’s possible that pulling back to retest underlying support levels around $21800.

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