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As Bitcoin prices broke the $9000 mark, Twitter was ripe with the usual speculation concerning the cause and effect of the recent increase in Bitcoin price.
Some Twitter users even suggested that the outbreak of the Coronavirus in China may have caused the increase in Bitcoin price. While the price of cryptocurrency often rises during a period of crisis and uncertainty, I think the probable slowing of the Chinese economy due to the outbreak may actually have the opposite effect on the price of Bitcoin.
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