Bitcoin’s price fell dramatically this past seven days losing 50% of its value as the markets become volatile in the period of uncertainty caused by the Coronavirus.
The price went to $3,850 per bitcoin on the Luxembourg-based Bitstamp exchange yet has now recovered and is now around the $5,500 mark at the time of writing.
Although at a fast speed, it did not quite match the huge price drop in January 2018 which saw a 65% loss in a month.
With such a historic fall in price, many commentators have responded with their theories and assessments of what this means for the industry. We have compiled the best reactions from across the industry.