Bitcoin fell more than $ 1,000
The price of bitcoin fell by $ 1,000 in a matter of hours. The crash saw the king of digital currencies reach $ 18,000 in psychological support. Bitcoin is currently trading in the $ 18,200 range.
According to Quinn Desk, the price of Bitcoin fell from $ 18,770 yesterday to $ 18,031. We are currently witnessing a slight price recovery, reaching $ 18,200.
The last time Bitcoin experienced such a fall was on December 1. At that time, the price of Bitcoin reached a historic high of $ 19,920 and then fell to $ 1,000.
CryptoQuant CEO Ki Young Ju cited the high volume of bitcoins marketed by whales as a factor in the price drop. “It simply came to our notice then:
Others said that the withdrawal of profits by investors and traders was another reason for the fall in prices. Lucas Huang, director of Tokenlon Decentralized Exchange Development, noted the micro-investor approach.
Bitcoin fell more than $ 1,000
On the other hand, the attitude of the Wall Streeters has not been ineffective in this price reduction. Citibank analyst Tyler Rodke had suggested to Micro Strategy that it sell its bitcoins. According to him, their satisfaction with the price of bitcoin in the current situation is too much.
Of course, it should not be forgotten that in the meantime, some experts have an upward view of the market. Jehan Chu, co-founder of Kenetic Capital, said in a statement:
In the short term, for technical analysts, the recent fluctuations in bitcoin are a sign of a higher peak timeframe scenario. This indicates a decrease in buyers’ interest in the midst of increasing daily sales volume.
If buyers fail to raise the price to $ 18,600, there is a possibility of a price reduction; Because in the short term, we saw a change in the upward trend to a downward one.
Ripple fell 9.57 percent and Light Coin fell 8.57 percent. During this time, 17 digital currencies fell 8 to 12 percent.
Traditional markets, such as the Dow Jones Industrial Average and the S & P500, on the other hand, had a relatively stable day. Yesterday, these indices climbed 0.35% and 0.28%, respectively.