Bitcoin price hits new year-to-date high only to crash down to eleven thousand eight hundred dollars ($11,800). The crash came minutes after the Bitcoin price had hit the year-to-date high.
Bitcoin price is currently struggling to find a support level that would allow it to sustain the twelve thousand and five hundred dollars ($12,500) mark.
The king of cryptocurrencies is taking another jab at the resistance it was unable to pull through in the past few weeks and is currently trading between eleven thousand eight hundred and twelve thousand three hundred ninety-seven dollars ($12,397).
BTC price went soaring just a few hours back gaining almost one thousand dollars ($1,000) in an hour long flash rally.
The Bitcoin price chart, however, shows that the currency is now flash crashing down to eleven thousand eight hundred dollars ($11,800) after hitting the year-to-date high point of thirteen thousand eight hundred dollars ($13,805).
These the lines above were being written the Bitcoin price fell down to eleven thousand eight hundred dollars ($11,800) twice and struggled back up towards twelve thousand three hundred dollars ($12,300).
Bitcoin price is currently going through extreme fluctuations and the current support is found at the eleven thousand eight hundred dollars ($11,900) mark.
The flash crash dip started at 08:34 PM GMT on the 26th of June and in next twenty minutes Bitcoin price had flash crashed down to eleven thousand eight hundred and eighty-seven dollars ($11,887).
The next dip came almost half an hour later when at 09:26 PM GMT Bitcoin price hit the low point of eleven thousand eight hundred dollars ($11,800).
The interesting part is that Bitcoin price fell down minutes after hitting the year-to-date high since it had just hit the thirteen thousand eight hundred and fifty-six dollars ($13,856) mark at 07:51 PM GMT.
Analysts are predicting both flash crash and new high points as far up as twenty thousand dollars ($20,000) and one hundred thousand dollars ($100,000) before the year ends.
Bitcoin price, however, has a path of its own and for now, the crash theories seem right it is very much possible that the currency hits at least fifteen thousand dollars ($15,000) mark before the crypto-winter hits the market in August.