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Bitcoin Drops $ 10,000 in Less than 19 Hours

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Bitcoin Drops

Bitcoin drops $ 10,000 in less than 19 hours

Bitcoin drops 10,000

Bitcoin survives the biggest one-day drop in history. Over the past 19 hours, Bitcoin has plunged more than $ 10,000 – the largest one-day drop in the value of a cryptocurrency in history.

The coin from $ 58,000 on the eve fell to $ 47,700. Many analysts urged investors not to panic and predicted an early return of positions.

Bitcoin drops 10,000

At the time of publication of this material, the largest digital currency is trading in the region of $ 47,200 on the BitXmi crypto exchange. Bitcoin capitalization is now just over $ 880.034 billion.

The previous largest daily drop in BTC took place on January 11 of the same year. Then the coin with $ 40,000 fell in price to $ 32,000.

Former hedge fund manager Raul Pal, who previously invested 75% of his funds in bitcoin, said that yesterday’s drop in cryptocurrencies was even necessary. In his opinion, it tempered the appetites of traders and balanced the overall market situation. Thus, the risk of a larger rollback was minimized.

Losses of traders in the last 24 hours 

Bitcoin Drops

Over the past 24 hours, traders have lost $ 4.4 billion, according to bybt. Margin positions of 466 thousand users of crypto exchanges were liquidated. One of them lost over $ 20.6 million on a Bitcoin deal.

88% of positions closed over the past day are long. The liquidations for $ 2 billion took place in pairs with Bitcoin, for $ 1 billion with Ethereum. 45% of closed positions fell on the Binance crypto exchange.

But do not despair, because a drop in the rate is also a way of making money for traders. Come to Bitxmi and trade for a short! 

Read actual crypto news and crypto forecasts every day on https://news.bitxmi.com/

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

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