Bitcoin dropped below $ 8,000 – Did this cause the sudden drop in prices?

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Bitcoin, who has been swinging wildly in recent weeks, crashed to less than $ 8,000 – suddenly losing close to $ 1,000 a bitcoin in minutes last night.

The price of bitcoin, down about 8% in the last 24 hours, is still around the double where he started this year after a terrible year 2018 that saw the loss of about 80% of the value of many of the world's largest crypto-currencies, including Bitcoin.

It has been suggested the last sudden sale of bitcoin, which has significantly reduced the cryptocurrency market, was caused by a so-called bitcoin whale selling a large amount of bitcoin and then redeemed after the market fell due to the influx of supplies – potentially yielding millions of dollars.

Last night, a major bitcoin holder transferred some 25,000 bitcoins, worth more than $ 200 million, from an over-the-counter portfolio to the San Francisco-based San Francisco-based San Francisco-based Coinbase Exchange. as reported by a bitcoin and cryptocurrency tracking whale Twitter bot.

Shortly thereafter, 14,000 bitcoins, valued at $ 112 million, were transferred from Coinbase to another portfolio, followed by another 11,000 bitcoins valued at $ 88 million.

"If you do a little math and follow the timeline, it's not hard to see that someone threw 25,000 bitcoins for $ 215 million and bought it back soon for $ 200 million, wrote the Reddit user u / makoveli in a publication& nbsp; to the popular cryptocurrency forum r / cryptocurrency. "In doing so, they pocketed $ 15 million and left with the same amount of bitcoins as in the beginning."

Bitcoin, despite being the most widely traded cryptocurrency with trading volumes reaching billions of dollars every day, continues to face sharp price swings due to the large number of holders move significant amounts of bitcoins.

Following the sharp fall in bitcoin prices, other major cryptocurrencies, including Ethereum, Ripple XRP, Litecoin, EOS and Bitcoin Cash, all fell, resulting in a drop of more than 10% of the EOS price yesterday, according to CoinMarketCap.

Bitcoin SV, a & nbsp; bitcoin variant cash, itself a fork of bitcoin, was the only top 10 cryptocurrency largely spared by the sudden sell, which may further speculate on the fact that the controversial symbol suffers from a low liquidity and d & # 39; 39, high price manipulation.

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The Bitcoin, which rocked wildly in recent weeks, crashed to under $ 8,000 – suddenly losing nearly $ 1,000 a bitcoin in minutes last night.

The price of bitcoin, down about 8% over the past 24 hours, has doubled again as it started this year after a terrible year 2018 during which many of the biggest crypto-currencies of the world, including bitcoin, have lost about 80% of their value.

It has been suggested that the last sudden sale of bitcoin, which has dramatically reduced the cryptocurrency market, was caused by a so-called bitcoin whale selling a large quantity of bitcoin and then bought back after the market crash due to the inflow of supply. – potentially earn millions of dollars in the process.

Last night, a major bitcoin holder transferred some 25,000 bitcoins, worth more than $ 200 million, from an over-the-counter portfolio to the San Francisco-based San Francisco-based San Francisco-based Coinbase Exchange. as reported by a bitcoin and cryptocurrency tracking whale Twitter bot.

Shortly thereafter, 14,000 bitcoins, valued at $ 112 million, were transferred from Coinbase to another portfolio, followed by another 11,000 bitcoins valued at $ 88 million.

"If you do a little math and follow the timeline, it's not hard to see that someone has dumped 25,000 bitcoins for $ 215 million and bought back a few time afterwards for $ 200 million, "wrote the user u / makoveli from Reddit in a post on the popular cryptocurrency forum r / cryptocurrency. "In doing so, they pocketed $ 15 million and left with the same amount of bitcoins as in the beginning."

Bitcoin, although it is the most widely traded cryptocurrency with a multi-billion dollar trading volume every day, continues to face sharp price swings due to the number holders who move significant amounts of bitcoins.

Following the sharp fall in bitcoin prices, other major cryptocurrencies, including Ethereum, Ripple XRP, Litecoin, EOS and Bitcoin Cash, all fell, resulting in a drop of more than 10% of the EOS price yesterday, according to CoinMarketCap.

Bitcoin SV, a variant of Bitcoin Cash, itself a fork of Bitcoin, was the only top 10 cryptocurrency largely spared by the sudden sell, which may speculate that the controversial symbol suffers from low liquidity and from a high price manipulation.