BTC rate fell below $ 8,000 – collapse of $ 700 in 2 hours

On the night from Monday to Tuesday, the Bitcoin flagship cryptocurrency exchange rate again dropped below $ 8,000.

At about 02:00 (Moscow time) the BTC was still trading around $ 8,500, after which a rapid price reduction began. Within an hour, the cryptocurrency lost more than $ 500, in general, in more than 2 hours, BTC lost $ 700. It is noteworthy that the collapse was accompanied by an increase in BTC trading volume – the figure reached $ 21.5 billion.

Meanwhile, large altcoins also showed a decline. The course Ethereum, Bitcoin Cash, Litecoin, Binance Coin has fallen somewhere around 5% -10% in the last 24 hours. Altcoin EOS suffered the most – its rate dropped by more than 12%. Over the past 24 hours, the total market capitalization has dropped by $ 16 billion, the market capitalization of altcoins – by $ 7 billion.

Among investors and analysts there are those who believe that such kickbacks are normal, most often such fluctuations are of a short-term nature, after which the rate of cryptocurrency rushes to new heights.