RATE Group | Bitcoin Price Flash Crashes by $700 in Minutes Back Below $12K
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Bitcoin Price Flash Crashes by $700 in Minutes Back Below $12K

11 Aug Bitcoin Price Flash Crashes by $700 in Minutes Back Below $12K

Posted at 22:53h in Bitcoin News by

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The top 20 cryptocurrencies are seeing mixed movements as Bitcoin (BTC) suddenly flash crashed in minutes from $12,300 to as nearly $11,600.

Market visualization

Market visualization. Source: Coin360

Nevertheless, Bitcoin price is still currently up by 1.5% on the day, trading at around $11,813 at press time, according to Coin360. Looking at its weekly chart, the coin is up by about 24.33%.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Coin360

As Cointelegraph reported yesterday, the CEO of crypto payments firm Circle, Jeremy Allaire, suggested that macroeconomic turmoil is responsible for Bitcoin’s recent growth.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $24.5 billion. The second-largest altcoin, XRP, has a market cap of $13.6 billion at press time.

Coin360 data shows that ETH has seen its value decrease by about 0.86% over the last 24 hours. At press time, ETH is trading around $231. On the week, the coin has also gained about 10% of its value. 

Ether 7-day price chart

Ether…

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