Step by step, the bitcoin price is making a huge move today to stun traders. In the last 24 hours, the price plunged to a daily low of $53,000 before recovering substantially.
The BTCUSD chart shows how the bitcoin price quickly recovered from a low of $53,000 and jumped to $58,000.
However, the bitcoin price fell below the $54,000 mark after the WHO released information about the new coronavirus, code “B.1.1.529,” causing traders to panic and fear that the new virus would crash the markets as it did in March 2020.
Fears of this led to a serious sell-off in the market, which, after a short time, bounced back.
Once the panic subsided, however, the Bitcoin price began an impressive recovery today.
Bitcoin is currently trading at $57,400 and has risen 7% in the last 24 hours.
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Monday, November 29, 2021