More than ever before, global trepidation has been on the rise for the deadly coronavirus. Findings have revealed an estimated number of 10,000 infected cases all around the world. CDCP reported the first United states quarantine while UK and Russia recently announced the first outbreak of the Asian Flu which presented itself in a similitude close to SARs.
It was indeed a January to remember for China as the Asian flu crept into its crevices, killing hundreds of persons while the number of infected cases remained on the rise. Official statistics reveal an estimated number of 5,900 infected individuals, while a scientific team believes this number may reach up to 43,000.
The cryptocurrency market has been buoyed by the corona outbreak as the flagship cryptocurrency, Bitcoin took an uptrend as seen in the trading charts. Bitcoin (BTC/USD) profited close to $1,000 during the early part of the week but failed to break critical barrier levels and has consolidated gains at the moment.
In recent hours, Bitcoin held steady above $9,300 after failing to break key resistance. As of writing, the BTC/USD pair was up by 0.6% trading daily at $9,375.
Bitcoin Draws Gain From Coronavirus Sentiment
Bitcoin held steady above $9,300 after it failed to reach the support levels, while key cryptocurrencies held uptight on Saturday amidst a lack of market influencing stats. Despite the passivity in the trading zone, the first crypto asset, Bitcoin, remained close to key levels that could impact on its next important move.
Having traded above the $9,000 level earlier in the week, Bitcoin (BTC/USD) climbed higher peaking its highest level since October 2019 at $9,570 on Thursday. However, the pair lost momentum which wrote off almost 2% market gain on Friday before it started to consolidate on Saturday. As of writing, the pair was down 0.9% on the day at $9,300.
On the daily chart, the RSI indicator ranged within a touchdown distance of 70, above which the BTC/USD would enter a technically overbought zone in the meantime. The bullish momentum seems to be waning and the pair might experience a technical correction before the next pushup.