RATE Group | Throwback! One Year Ago, 50% Bitcoin Price Dump to $3,000 Began
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Throwback! One Year Ago, 50% Bitcoin Price Dump to $3,000 Began

15 Nov Throwback! One Year Ago, 50% Bitcoin Price Dump to $3,000 Began

Posted at 12:08h in Bitcoin News by

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One year ago yesterday (November 14th, 2018), the price of Bitcoin (BTC) began to tank. During that day, the cryptocurrency fell from $6,200 — where it had held for a majority of the summer months — to $5,500, a 12% drop that was the worst daily performance for the asset in over two months.

It is now November 15th, 2019. What happened during that fateful day, and what has changed in the crypto industry since then?

Related Reading: 50DMA: Bitcoin Price Facing Dangerous Retest Of Moving Average

One Year Anniversary of the Bitcoin Crash

September to November of 2018 was a weird time for the cryptocurrency markets; then, a majority of analysts were leaning long, as Bitcoin had managed to hold $6,000 for months on end, leaving many to suggest that this level was a long-term bottom.

Related Reading: Former ECB President’s Statement Shows Bitcoin Does Have Impact on the Economy

Though, on the morning of November 14th, this was proven not to be the case. As aforementioned, BTC collapsed by…

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