Bitcoin has plunged to two-month lows since Sunday, possibly due to an over-$ million liquidation by PlusToken scammers, analysts say. 3 Reasons Bitcoin Crashed by $3, – And Why It’s Still Bullish Bitcoin suffered a price crash earlier on Thursday, having missed record highs by a narrow . Nov 27, · When the price of Bitcoin dropped, the funding rate also went back to %. This is a sign that excess leverage has been weeded out, Coindesk reported.
Why is btc price droppingBitcoin Price Crashed Back To $17, Here's Why It's Dropping
The onchain activity on Saturday was again noted by Ergo Research:. Some, of course, may argue that moving coins to mixers does not necessarily result in liquidation and the sell-off seen from Sunday was caused by the coronavirus-led crash in the global financial markets. Indeed, negative global macro factors — such as the equity market sell-off and record low in the U. Further, traditional markets were closed over the weekend.
Anderson told CoinDesk. That would invalidate the lower-highs setup. Subscribe to Blockchain Bites , our daily update with the latest stories. This form of tracking, if initiated, will be unpopular in the cryptocurrency community not just because it disregards the very principle in which it was created for the owner to have the sovereignty of their own money , but because it presents limitations as well.
As soon as the withdrawal suspension was lifted, many users naturally considered selling. In this photo illustration a visual representation of the digital currency Bitcoin sinks into water in London, England, Aug. Related Stories. Yellen Critical Of Cryptocurrencies. Join the Discussion. Shop By Category.