Bitcoin fell 20% due to coronavirus

Bitcoin fell by 20% and sank in price below $ 6 thousand. Following him, all the other largest cryptocurrencies, including Ethereum and Litecoin, also fall. The reason is coronavirus: investors are leaving all risky assets, and cryptocurrencies are no exception, Bloomberg writes . Due to the pandemic and the news accompanied by it on Thursday, all world indices collapsed and the largest IT companies are cheaper.

At the moment, Bitcoin on Thursday fell below $ 5.7 thousand, but then the cryptocurrency went up a little, to $ 5.9 thousand. Crypto Bloomberg Galaxy also fell, and immediately 27%. Ethereum fell by 12%, Litecoin - 27%.

The reason is that due to a crisis situation, investors leave any risky assets, experts interviewed by Bloomberg explain . And although Bitcoin is compared with gold as a protective asset, investors still perceive it as high -risk.

Technological companies also suffer from coronavirus: a large five IT giants-Apple, Google, Microsoft, Facebook and Amazon-lost more than $ 300 billion of capitalization in the beginning of this week and continue to fall.