Bitcoin Tumbles 15%, Mirroring Slumps of Global Markets

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Earlier, the US Federal Reserve System said that it lowered the target range for the federal funds rate to 0-0.25 percent in the wake of the coronavirus disease (COVID-19) pandemic.

The most popular cryptocurrency, Bitcoin, dropped to $4,521, mirroring falls across global markets.

Other cryptocurrencies followed the slide in price.

On Wednesday, the World Health Organization (WHO) declared the outbreak of the new coronavirus disease a pandemic.

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