Bitcoin price fell down to nine thousand three hundred and twenty-five dollars ($9325) after a flash crash that was predicted earlier today by the Cryptopolitan.com team.
The seven hundred dollars ($700) that were sapped out of the Bitcoin’s lot in a mere ten (10) minutes have caused quite a ruckus.
This has caused Bitcoin (BTC) to astray far away from the ten thousand dollars ($10,000) mark all the way down to nine thousand four hundred dollars ($9,400). Before the price cut, bitcoin (BTC) was stationed at ten thousand one hundred dollars ($10,000).
With almost all the crypto coins in distress as of today’s volatility crisis. It has been quite difficult for the analysts to point out potential reasons for such a case that has occurred. The altcoins haven’t been doing good- suffering losses between the two percent (2%) and the six percent (6%) on a daily basis.
Bitcoin holds about sixty-four percent market share (64.4%) summing up to one hundred and sixty-eight billion dollars ($168B)- which is the market cap while the overall market capitalization value is two hundred and sixty-one billion dollars ($261B).
At the time of publishing the king of cryptocurrency is trading at nine thousand four hundred and eight dollars ($9408). Support is found at nine thousand three hundred and eighty-four dollars ($9384) and then the lower support point lies at nine thousand two hundred and eighty-four dollars ($9284) respectively.
If the Bitcoin price doesn’t break the bearish trend it is likely that the BTC price may fall further down to the eight thousand dollars ($8000) range.