RATE Group | Bitcoin just saw its fifth largest hourly price drop ever; here’s where it may go next
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Bitcoin just saw its fifth largest hourly price drop ever; here’s where it may go next

20 Feb Bitcoin just saw its fifth largest hourly price drop ever; here’s where it may go next

Posted at 06:47h in Cryptocurrency News by

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Bitcoin investors were taken aback to witness Bitcoin’s massive flash crash today, which led the benchmark cryptocurrency to plummet from $10,200 to lows of $9,200 in a mere matter of minutes, with its sudden downturn leading the aggregated crypto market to follow suit.

This sudden drop, in dollar terms, marked the fifth-largest decline that the cryptocurrency has ever seen in under an hour, which is a testament to the significance of this movement.

It is important to consider that bulls were able to absorb a good amount of this selling pressure, subsequently leading the crypto to climb higher, and analysts still believe the crypto’s mid-term uptrend is fully intact.

Bitcoin sees a massive $1,000 price decline in unexpected movement 

Just a few hours ago, Bitcoin’s peaceful bout of sideways trading at around $10,200 was interrupted when bears catalyzed a significant amount of selling pressure that led the crypto to lows of $9,200, which is where bulls stepped up and began…

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