A cryptocurrency analyst, Charles Edwards, has recently averred that $6,400 price region should be expected for Bitcoin (BTC) as the World Health Organization (WHO) declared the ranging coronavirus a pandemic.
Also, the CEO of Binance CZ (Changpeng Zhao), while reacting to Anthony Pompliano’s announcement regarding the trending declaration of WHO, said it’s no more a hoax like it was initially difficult to accept the danger in the widespread of COVID19.
Initially, COVID19 had been downplayed by some governments, especially the government of the United States. They tried to avoid the fact that it’s a pandemic. This was a measure taken to save the already affected global economy.
The stock market and cryptocurrency market are faltering, and there could be more downtrends as the World Health Organization finally bowed to the negative effect of coronavirus and declared it a pandemic a couple of hours ago.
Reaction of Bitcoin (BTC) and Other Cryptocurrencies to WHO’s Recent Declaration
Before now, news outlets that tagged the outbreak as pandemic had been rebuked, terming their assertions fake news.
Bitcoin (BTC) and other cryptocurrencies in the market have been reacting negatively to WHO’s pandemic declaration.
Other top 20 digital currencies, except the stablecoins, have been down by at least 7%. Only the Bitcoin price is still down by 4% over the past 24 hours. At the time of filing this report, BTC is trading $7,496.75, with a 4.68% price plummet based on 24 hours estimation.
Charles Edward Says Bitcoin (BTC) Price Could Dip to $6,400 Region
A cryptocurrency analyst, Charles Edwards has quantified the effect of the recent declaration of the World Health Organization (WHO) on the price of Bitcoin (BTC) and other cryptocurrencies in the market.
As soon as WHO declared the outbreak of coronavirus a pandemic, BTC started losing its important support levels. It’s now trading below $7,500 price level.
According to the analyst, there is a possibility to see Bitcoin at a $6,400 price region once again, especially if this ugly moment holds until the upcoming halving.
Charles Edward shared this, “If this recession scenario plays out into the Halving, the December low of $6400 may be revisited soon.”
If this recession scenario plays out into the Halving, the December low of $6400 may be revisted soon.#Bitcoin
— Charles Edwards (@caprioleio) March 11, 2020
CZ Binance says Coronavirus No More Just a Hoax to the Mass Population
The CEO of Binance, CZ (Changpeng Zhao) has taunted governments and WHO that once tagged the widespread of coronavirus as just a hoax and fake.
He made this statement while reacting to Anthony Pompliano’s announcement on Twitter, regarding the declaration of WHO.
He said what was so difficult for the mass population to accept as real news has finally been taken seriously. He, however, implored people not to panic, but rather stay safe.
“No more “it’s just a hoax”. It’s super hard for a mass population to accept real news, like a deadly virus will spread. People stay in denial. Many of them accept fake news much easier for some reason. No need to panic, but be prepared, and stay SAFU,” CZ reacted.