Crypto Traders Explain What Caused the Bitcoin Price Plunge to $3,000sThe (BTC) price dropped to $3,600 overnight, marking Bitcoin’s biggest daily drop in the last seven years. Over $1 billion worth of longs was liquidated on March 12, causing one of the most intense long squeezes in the crypto market’s recent history.
The main catalyst of the sudden 50% decline in the price of Bitcoin within a span of eight hours was the 9.99% drop of the . The United States stock market experienced its worst sell-off since 1987, as panic over the coronavirus pandemic intensified to unprecedented levels.
Continue Reading on Coin Telegraph
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Source: Cryptocurrency - investing.com
