Bitcoin falls past $6000 on coronavirus concerns
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.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 81.2% | 33 | $62 059.45 | -1.27% | 0.11% | $1 226 601 980 255 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 74.8% | 43 | $2 433.83 | 0.34% | -2.63% | $292 983 223 989 |  |
|
| 3 |  USDT |
Tether predictions | 91.2% | 1 | $0.999453 | -0.04% | -0.02% | $119 791 684 933 |  |
|
| 4 |  BNB |
Binance Coin predictions | 78.4% | 35 | $579.84 | 2.04% | 5.31% | $82 374 483 999 |  |
|
| 5 |  SOL |
Solana predictions | 78% | 45 | $142.74 | -2.06% | -3.02% | $66 984 756 078 |  |
|
| 6 |  USDC |
USD Coin predictions | 94.4% | 1 | $0.999931 | 0% | 0.01% | $35 134 574 221 |  |
|
| 7 |  XRP |
XRP predictions | 74% | 43 | $0.527264 | -1.57% | -12.22% | $29 824 207 335 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 83.6% | 32 | $0.106629 | -2.78% | -0.60% | $15 598 117 734 |  |
|
| 9 |  TRX |
TRON predictions | 96% | 1 | $0.158517 | 1.57% | 2.99% | $13 723 047 278 |  |
|
| 10 |  TON |
Toncoin predictions | 81.6% | 31 | $5.18 | -0.71% | -3.44% | $13 139 798 644 |  |
|
| 11 |  ADA |
Cardano predictions | 76.8% | 38 | $0.343700 | -2.18% | -3.31% | $12 016 129 800 |  |
|
| 12 |  AVAX |
Avalanche predictions | 67.6% | 60 | $26.35 | -2.03% | 0.91% | $10 708 947 140 |  |
|
| 13 |  STETH |
Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 14 |  WTRX |
Wrapped TRON predictions | 92.4% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
|
| 15 |  SHIB |
SHIBA INU predictions | 54% | 94 | $0.000017 | -3.42% | 4.79% | $10 096 333 371 |  |
