Today, the Bitcoin cryptocurrency rate began to decline sharply after it only exceeded $ 8,000 a couple of days ago – in just half an hour, the BTC price dropped from $ 7,800 to about $ 7,000. Some exchanges recorded a fall and $ 6,200.
Along with the fall in prices, the BTC capitalization has shrunk by more than $ 10 billion. If we consider the dynamics of cryptocurrency at the weekly interval, then the increase in this indicator remains at around $ 14 billion.
Experts attribute the drop in the BTC rate to the placement of large orders for the sale of assets on the market, which provoked the activation of the so-called stop-loss positions and the increase in panic among crypto-traders. For example, an order to sell 3,645 BTC coins (approximately $ 26 million) appeared on the Bitstamp trading platform — the order was filled just in time for the cryptocurrency price to fall, which could be a trigger. Subsequently, at Bitstamp, the BTC rate reached $ 6,100.
Meanwhile, analysts from Crypto Quantamental remind that during the bull market in 2017, such sharp drops in BTC prices were quite normal, it happened almost every week – Bitcoin could fall by about 20%, but then reached a new price maximum.
