Bitcoin Price Tests 150-Day Moving Average Support; Can it Bounce Back?

Bitcoin (BTC) joined equities in taking a beating over the past few days as the coronavirus outbreak became a global problem. The latest developments, namely the widespread nature of infections, have pushed market participants to shed risky investments while gold has been appreciating.

The recent Bitcoin slump has come as a major blow to the crypto market, which was expecting a rally since the leading digital currency was attempting to tackle the key $10,000 price level. However, since February 24, 2020, BTC continued to drop to new lows daily, falling from $10,000 to under $8,500.

While

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