The crypto market looks a bit better today, with the most important coins trading in the green at the moment of writing this article.
The global stock market has been really hit lately amidst the global crisis caused by the coronavirus pandemic.
A lot of countries are really badly hit at the moment, and things will reportedly get worse.
Besides China, which seems to be slowly on its way to recovery, the crisis is just beginning everywhere else.
We’re really close to 200k number of infected people around the globe, and the exponential growth is taking the numbers up with each passing day.
The crypto market was also hit these days, and it really seems that the coronavirus is the catalyst for the crash. As the outbreak gets worse, so do the stocks.
Companies experience massive losses
According to Crypto Daily, the publicly listed crypto companies experience massive losses over the 24 hours, which will bring hell for the owners of the companies.
On the other hand, there seems to be some good news as well.
The market has seen massive crashes over the past days, but the CEO of BitMEX platform has both good and bad news.
Arthur Hayes said that the leading crypto could see more losses from the market drop.
In a segment from BitMEX Crypto Trader Digest, Hayes said that Bitcoin could hit levels of around $6000. As you can see for yourselves, Bitcoin is trading below $6k today.
“Bitcoin will not escape. While I don’t believe we will revisit $3,000, max pain probably resides somewhere between $6,000 to $7,000,” he explained.
At the moment of writing this article, BTC is trading in the green, just like the other digital coins in the market, and the most important digital asset is priced at $6,069.40.
Stay tuned for the latest info on the crypto market.