DIGITAL CRYPTOCURRENCY GOES DOWN PRICE

DIGITAL CRYPTOCURRENCY GOES DOWN PRICE;

Bitcoin is also having a very, very bad day

Bitcoin is going through a remarkably bad day. It turns out all assets are having a rough month — including cryptocurrencies. A couple of hours ago, the average price of BTC dropped by 15% in just 20 minutes.

On CoinGecko, 1 BTC was worth around $7,250 across different exchanges at 10:30 AM GMT. At 10:50 AM GMT, the price dropped to $6,160 for 1 BTC. Bitcoin hasn’t recovered since then as 1 BTC can now be exchanged for $6,150.

This isn’t just an accident. Bitcoin has been steadily going down for the past month. On February 19, you could still receive over $10,000 by selling 1 BTC.

Yesterday, the World Health Organization officially declared the spread of COVID-19 a pandemic. The U.S. has taken additional measures to combat the spread of the coronavirus, including travel restrictions from Europe to the U.S. Asian and European stock markets have had a rough trading day following the news.

Many believed that cryptocurrencies would be inversely correlated to stock markets. But economic confidence is also hurting cryptocurrencies. Uncertainty has led to today’s crypto asset selloff. You don’t want to keep trading positions in risky assets when it’s unclear whether the economy can recover from the coronavirus.

Other popular cryptocurrencies, such as Ethereum, XRP and Bitcoin Cash are respectively down 28.3%, 23.2% and 31.1% over the past 24 hours. In other words, everything is red right now.

Ethereum Down 35% as Crypto Market Loses $68.61 Billion in 30 Minutes

Ethereum, the second-largest cryptocurrency by market capitalization, plunged by a massive 35 percent on Thursday, logging its biggest decline in a day since the 2018 ICO bust.

The ETH-to-dollar exchange rate fell from $195.64 to $126.28 in 30 minutes, following the leading cryptocurrency Bitcoin’s frenetic sell-off within the same timeframe. The implosive move downhill led Ethereum’s market capitalization to a fresh year-to-date low of circa $14.98 billion. At its highest, it was $27.37 billion.

Elsewhere in the crypto market, all the high- and small-cap coins suffered major losses. Bitcoin, as stated, tanked massively by 23.48 percent. At the same time, Ripple’s XRP, Litecoin’s LTC, Bitcoin Cash’s BCH, and other top cryptocurrencies too plunged within a range of 25 to 40 percent, erasing about $68.61 billion in total from the overall market.

The Trump Dump

The crypto market’s crash came a day after President Donald Trump announced travel restrictions from most of the European countries to offset the rising number of novel Coronavirus (COVID-19) in the US. Trump also promised monetary aids to assist small businesses but that didn’t translate into recovery for an already-suffering stock market.

Bitcoin, Ethereum and the rest of the cryptocurrency tokens were following the global equity trend closely. All of the top coins underwent huge declines as investors arguably sold them to cover losses in traditional markets. Even gold, which is considered a safe-haven in times of global crisis, failed to register a price rally and fell alongside equities and bond yields.

Ethereum, whose correlation with bitcoin remains the highest, could also take bullish cues from the latter’s recovery. But for that to happen, the Coronavirus pandemic has to get over. People need fiat to buy utilities more than anything else should they feel the need to quarantine themselves in their homes.

The new virus so far has killed at least 4,700 people and has infected 126,000 others around the globe. In response, most-affected countries like Italy have locked down about 60 million of its citizens inside their homes. In the US, the pandemic is spreading at a faster rate, with now more than 1,000 confirmed cases.

What’s Next for Ethereum?

Etheruem and the likewise cryptocurrencies have joined the ranks of other risk-on assets. The second-largest token could feel further bearish pressure as investors’ demand for fiat liquidity surges, sighting 2018’s bottom area for its next potential pullback.

Bitcoin falls past $6,000, leading a cryptocurrency rout as global markets slip on coronavirus concerns

• Bitcoin fell below $6,000 on Thursday for the first time since May amid a market-wide sell-off over coronavirus concerns. 
• The largest digital currency led other coins lower — Ethereum, Litecoin, and Ripple also plummeted Thursday. 
• "Investors are clearly not looking at Bitcoin as a safe haven asset," Matthew Dibb, co-founder of the institutional-grade platform Stack, told Business Insider in an email. 
• Watch Bitcoin trade live on Markets Insider. 
• Read more on Business Insider. 

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Bitcoin tanked Thursday and fell below $6,000 for the first time since May amid a larger global market sell-off as investors panic about the spread of coronavirus. 

The cryptocurrency briefly fell to as low as $5,705.31, according to Bloomberg data. Later Thursday morning, the price had recovered some of its loses and traded around $5,960 — down about 25% from Wednesday's close. The Bloomberg Galaxy Crypto Index fell as much as 29%, while the Grayscale Bitcoin Trust lost as much as 7%. 

The largest digital currency led a rout of other coins — Ethereum, Litecoin, and Ripple also plummeted Thursday. 

"The short-term outlook for Bitcoin remains bearish, as investors are clearly not looking at Bitcoin as a safe haven asset," Matthew Dibb, co-founder of the institutional-grade platform Stack, told Business Insider in an email. 

Other safe-haven assets have also slipped, reflecting that investors are not snapping them up at the same rate amid market panic. The yield on the 10-year US Treasury bond gained Thursday, showing that investors were selling the long-term bonds instead of buying. Gold, another safe-haven asset, was down more than 1% Thursday.

Markets Insider

Coronavirus

Coronavirus:-

Coronaviruses (CoV) are a large family of viruses that cause illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV). A novel coronavirus (nCoV) is a new strain that has not been previously identified in humans.  

Coronaviruses are zoonotic, meaning they are transmitted between animals and people.  Detailed investigations found that SARS-CoV was transmitted from civet cats to humans and MERS-CoV from dromedary camels to humans. Several known coronaviruses are circulating in animals that have not yet infected humans. 

Common signs of infection include respiratory symptoms, fever, cough, shortness of breath and breathing difficulties. In more severe cases, infection can cause pneumonia, severe acute respiratory syndrome, kidney failure and even death. 

Standard recommendations to prevent infection spread include regular hand washing, covering mouth and nose when coughing and sneezing, thoroughly cooking meat and eggs. Avoid close contact with anyone showing symptoms of respiratory illness such as coughing and sneezing.

World experts and funders set priorities for COVID-19 research

Leading health experts from around the world have been meeting at the World Health Organization’s Geneva headquarters to assess the current level of knowledge about the new COVID-19 disease, identify gaps and work together to accelerate and fund priority research needed to help stop this outbreak and prepare for any future outbreaks.

The 2-day forum was convened in line with the WHO R&D Blueprint – a strategy for developing drugs and vaccines before epidemics, and accelerating research and development while they are occurring.

“This outbreak is a test of solidarity -- political, financial and scientific. We need to come together to fight a common enemy that does not respect borders, ensure that we have the resources necessary to bring this outbreak to an end and bring our best science to the forefront to find shared answers to shared problems. Research is an integral part of the outbreak response,” said WHO Director-General Dr Tedros Adhanom Ghebreyesus. “I appreciate the positive response of the research community to join us at short notice and come up with concrete plans and commitment to work together.”

The meeting, hosted in collaboration with GloPID-R (the Global Research Collaboration for Infectious Disease Preparedness) brought together major research funders and over 300 scientists and researchers from a large variety of disciplines. They discussed all aspects of the outbreak and ways to control it including:

• the natural history of the virus, its transmission and diagnosis;
• animal and environmental research on the origin of the virus, including management measures at the human-animal interface;
• epidemiological studies;
• clinical characterization and management of disease caused by the virus;
• infection prevention and control, including best ways to protect health care workers;
• research and development for candidate therapeutics and vaccines;
• ethical considerations for research;
• and integration of social sciences into the outbreak response.

“This meeting allowed us to identify the urgent priorities for research. As a group of funders we will continue to mobilize, coordinate and align our funding to enable the research needed to tackle this crisis and stop the outbreak, in partnership with WHO,” said Professor Yazdan Yazdanpanah, chair of GloPID-R. “Equitable access – making sure we share data and reach those most in need,  in particular those in lower and middle-income countries, is fundamental to this work which must be guided by ethical considerations at all times.”  

During the meeting, the more than 300 scientists and researchers participating both in person and virtually agreed on a set of global research priorities. They also outlined mechanisms for continuing scientific interactions and collaborations beyond the meeting which will be coordinated and facilitated by WHO. They worked with research funders to determine how necessary resources can be mobilized so that critical research can start immediately.

The deliberations will form the basis of a research and innovation roadmap charting all the research needed and this will be used by researchers and funders to accelerate the research response.

Common Human Coronaviruses:-

Centers for Disease Control and Prevention. CDC twenty four seven. Saving Lives, Protecting People Centers for Disease Control and Prevention. CDC twenty four seven. Saving Lives, Protecting People 

Common human coronaviruses, including types 229E, NL63, OC43, and HKU1, usually cause mild to moderate upper-respiratory tract illnesses, like the common cold. Most people get infected with one or more of these viruses at some point in their lives. This information applies to common human coronaviruses and should not be confused with coronavirus disease 2019 (formerly referred to as 2019 Novel Coronavirus).

Symptoms of common human coronaviruses:

• runny nose
• sore throat
• headache
• fever
• cough
• general feeling of being unwell

Human coronaviruses can sometimes cause lower-respiratory tract illnesses, such as pneumonia or bronchitis. This is more common in people with cardiopulmonary disease, people with weakened immune systems, infants, and older adults.

Transmission of common human coronaviruses

Common human coronaviruses usually spread from an infected person to others through

• the air by coughing and sneezing
• close personal contact, like touching or shaking hands
• touching an object or surface with the virus on it, then touching your mouth, nose, or eyes before washing your hands

In the United States, people usually get infected with common human coronaviruses in the fall and winter, but you can get infected at any time of the year. Young children are most likely to get infected, but people can have multiple infections in their lifetime.

Preventing viral respiratory infections

Protect yourself from getting sick

• wash your hands often with soap and water for at least 20 seconds
• avoid touching your eyes, nose, or mouth with unwashed hands
• avoid close contact with people who are sick

Protect others when you are sick

• stay home while you are sick
• avoid close contact with others
• cover your mouth and nose when coughing or sneezing
• clean and disinfect objects and surfaces

Treatment for common human coronaviruses

There is no vaccine to protect you against human coronaviruses and there are no specific treatments for illnesses caused by human coronaviruses. Most people with common human coronavirus illness will recover on their own. However, to relieve your symptoms you can:

• take pain and fever medications (Caution: do not give aspirin to children)
• use a room humidifier or take a hot shower to help ease
• a sore throat and cough
• drink plenty of liquids
• stay home and rest

If you are concerned about your symptoms, contact your healthcare provider.

Testing for common human coronaviruses

Sometimes, respiratory secretions are tested to figure out which specific germ is causing your symptoms.

• If you are found to be infected with a common coronavirus (229E, NL63, OC43, and HKU1), that does not mean you are infected with the 2019 novel coronavirus.
• There are different tests to determine if you are infected with 2019 novel coronavirus. Your healthcare provider can determine if you should be tested.