Bitcoin (BTC) continued inclement trading beliefs on March 11 as analysts revealed that the "black swan" state of the markets could produce fresh losses.

Cryptocurrency market daily overview. Source: Coin360

Cryptocurrency market daily overview. Source: Coin360

Filfilb expects "bad behavior" from BTC

Information from Coin360 and Cointelegraph Markets painted a precarious picture of BTC/USD strength on Wednesday. $seven,750 back up had remained since Monday, just resistance at $eight,000 was once again keeping gains firmly in check.

At press fourth dimension, Bitcoin circled $7,800, but in that location was little confidence that fifty-fifty those levels would endure for long.

Bitcoin 1-day price chart. Source: Coin360

Bitcoin 1-twenty-four hour period price chart. Source: Coin360

Confronting a backdrop of connected fragility on traditional markets and the prospect of coronavirus spreading more widely in Europe, Cointelegraph Markets annotator filbfilb set the tone.

"Bitcoin has never had to deal with annihilation like this, it is a truly global reaching result," he told followers of his Telegram trading aqueduct.

"We should expect Bitcoin to behave desperately, correlated to the indices AND we should expect it to do things we haven't seen it do in difficult times (like potentially lose the log back up channel)."

Even if such long-term trends were ditched, he added, it would still not represent "game over" for Bitcoin.

Filbfilb summarized:

"We are still in a 'child' similar country of maturity for Bitcoin becoming a game changing asset; this is really exactly the sort of event which might assist in the long run."

Imf demands flood of liquidity

Governments are widely tipped to pump cash into bilious economies to convalesce the symptoms of coronavirus panic. As Cointelegraph reported, nonetheless, such practices further undermine the credentials of fiat currency in the long term.

Notwithstanding, without activity, the globe faced a rerun of the 2008 financial crunch, the International Budgetary Fund (IMF) warned on Wed.

According to a source who quoted Christine Lagarde to Bloomberg, the IMF favored "super inexpensive" funding to avoid a bank liquidity crisis.

Both the U.S. and U.Thousand. central banks have slashed involvement rates over the by week, while the European Central Banking concern is expected to step up its "quantitative easing" coin printing activities.

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