While the viral panademic has hit the economy and currency like a storm, the cryptocurrency might actually bounce back   


12 March 2020 : Luno’s CEO, Marcus Swanepoel believes that even though there are no signs of respite from the aftereffects of this epidemic, cryptocurrencies are likely to bounce back as he sees ‘buyers coming back in for the’


While the US travel ban on Europe caused losses across all the main alt coins,  Bitcoin dropped to below $7,500, after stooping to as low as $5,678 - the lowest level since May 2019.


Ethereum is down to $179, and XRP has crashed below $0.20 to trade at $0.91 as the impact on cross border trade becomes clear. Bitcoin Cash is at $245, a coin which was looking to break above $500 a few weeks ago.


Marcus says “There is no surprise that as coronavirus has been classified as a global pandemic, and for the first time, the US has acknowledged the seriousness of the situation, that all markets are coming under pressure.

“We do still believe that cryptocurrencies will find buyers coming back in for them as investors will want to be in assets that are uncorrelated to the main markets.”


Reporting for EasyKobo on Thursday , 12 March 2020 in Lagos, Nigeria

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