RATE Group | Bitcoin Crashes Under $9,000 As Sudden Sell-Off Surprises Market
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Bitcoin Crashes Under $9,000 As Sudden Sell-Off Surprises Market

23 May Bitcoin Crashes Under $9,000 As Sudden Sell-Off Surprises Market

Posted at 05:43h in Bitcoin News by

Bitcoin investors are braced for a rough ride after the bitcoin price crashed by almost 10% over the last 24-hour trading period.

The bitcoin price, which had been holding its ground since a supply shock earlier this month, has suddenly moved sharply lower—dropping under $9,000 per bitcoin.

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Bitcoin fell to lows of $8,928 on the Luxembourg-based Bitstamp cryptocurrency exchange before rebounding slightly.

The wider bitcoin and cryptocurrency market recorded similar declines, with most major tokens losing between 5% and 10% and wiping more than $10 billion from the total crypto market value.

The precise cause for the sell-off was not immediately clear, although the market…

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