[sunjester]

In the last 24 hours, the Bitcoin price has dropped from $3,550 to $3,357 on the day’s low, by more than five percent. The abrupt decline in the Bitcoin price led the crypto market to lose nearly $6 billion within hours. Some major crypto assets including Bitcoin Cash (BCH) recorded losses of over 10 percent, experiencing the steepest decline in the month.

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[mothered]

That (6 billion) Is a significant loss.

I don't remember the last time I've seen Bitcoin's price In the range of 3,300$

[Guardian]

That's a huge estimation, but I expect they're well floated for when people bought in the high 1X,000s...

The value is down, but only hurts those that sell at a loss, or bought in way too high.

[Oni]

I recall it being at $20,000 at one point, to think the currency has gone so low is sad...

[coingod]

The big whales are shorting the currency making a fortune. Right now I strongly believe they are devaluing the currency to start buying it up cheaply.

[darkninja1980]

In the last 24 hours, the Bitcoin price has dropped from $3,550 to $3,357 on the day’s low, by more than five percent. The abrupt decline in the Bitcoin price led the crypto market to lose nearly $6 billion within hours. Some major crypto assets including Bitcoin Cash (BCH) recorded losses of over 10 percent, experiencing the steepest decline in the month.

Read the full story

thank you for sharing this news article.

[JaffaKree]

The big whales are shorting the currency making a fortune. Right now I strongly believe they are devaluing the currency to start buying it up cheaply.

Maybe, but if it keeps declining then it's possible that it will never recover and other more stable currencies will take over while Bitcoin will disappear

[coingod]

The big whales are shorting the currency making a fortune. Right now I strongly believe they are devaluing the currency to start buying it up cheaply.

Maybe, but if it keeps declining then it's possible that it will never recover and other more stable currencies will take over while Bitcoin will disappear

"Recover" is a pretty vague term. If you remember bitcoin is still several times higher than what it was in 2017. It would take a lot to make bitcoin disappear and as it stands there is no other crypto coin sappier to Bitcoin. The only crypto that may have a better use than Bitcoin is, Dash, and XMR. So if bitcoin does start to bottom this will be a great sign for the market as larger entities will simply just start buying it up. This will start a natural market pump. Whoever is playing with the markets right now is making a fortune.

[Guardian]

The big whales are shorting the currency making a fortune. Right now I strongly believe they are devaluing the currency to start buying it up cheaply.

Kinda thought the same thing. Sell massive amounts, flood the market so the price drops. Buy it back up again.

There were way too many transactions at $18k+ for people to take that massive loss lying down.

[dmcv18]

anyone else play that bitcoin multiplier game? Was so much fun, forget the name though