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Cryptocurrencies: 3605 / Markets: 20641
Market Cap: $ 210 538 227 297 / 24h Vol: $ 168 755 243 393 / BTC Dominance: 64.2793%

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BREAKING: Bitcoin Crashes 17% in 1 Hour Below $6K in Coronavirus Panic

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Bitcoin sees heavy losses on all short-term timeframes as a giant sell-off captivates markets on Thursday.

Bitcoin (BTC) made further dramatic losses on March 12, falling below $6,000 for the first time since May 2019. 

Cryptocurrency market daily overview. Source: Coin360

Data from Coin360 and Cointelegraph Markets summarized the grim day for Bitcoin traders as BTC/USD hit lows of $6,000.

The selloff intensified through Thursday, with 24-hour losses hitting 20% on some exchanges.

Bitcoin 1-day price chart. Source: Coin360

“And that looks like capitulation to me,” entrepreneur Alistair Milne summarized on Twitter.

As Cointelegraph reported, various analysts, including BitMEX CEO Arthur Hayes, believe the likely bottom for Bitcoin lies at $6,000. 

Altcoins continue to see heavy losses across the board, as cryptocurrencies move in step with panic on traditional markets over coronavirus measures enacted by the United States.

Keep track of top crypto markets in real time here

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