Millions of Bitcoin Longs Liquidated as Bitcoin Plunged.
Bitcoin Plunges: Millions in Longs Liquidated
Bitcoin plunged more than $1,000 in less than an hour on Wednesday, as investors liquidated longs in the digital currency.
Bitcoin was trading at $6,547.01 at 10:20 a.m. ET, according to CoinMarketCap. It had been as high as $6,914.57 earlier in the day.
The sell-off follows a report from CoinDesk that Goldman Sachs is considering launching its own bitcoin trading platform.
Crypto Market in Turmoil as Bitcoin Drops, Liquidating Longs
Bitcoin is down 7.5% on the day as traders liquidate longs and attempt to exit the market. Litecoin is down 7.9% on the day, Ethereum is down 10.5%, and Bitcoin Cash is down 12%.
Crypto Crash: Millions of Longs Wiped Out by Bitcoin’s Plunge
Bitcoin’s price plunged over the weekend, wiping out millions of longs.
Bitcoin Nosedive Costs Investors Millions in Lost Longs
Bitcoin prices tumbled over the weekend, leading to millions of dollars in losses for some cryptocurrency investors.
On Saturday, the price of a single bitcoin was around $11,000. But by Sunday, the price had plummeted to around $8,000. The total value of all bitcoin in circulation has fallen by around $30 billion since January 1st.
This is likely causing significant financial pain for some cryptocurrency investors, who have put their faith in the digital currency. Many are now looking to sell their holdings, in a move that could lead to further losses.
Bitcoin is not the only cryptocurrency to experience a decline in value over the past few days. Ethereum and Ripple also saw significant drops in value. This is likely a result of growing uncertainty surrounding the future of cryptocurrencies.
Many people are now asking whether the cryptocurrency bubble is about to burst. There is clearly a lot of uncertainty surrounding the future of cryptocurrencies, and this could lead to further volatility in the market.
Market Reeling as Bitcoin Freefall Causes Losses for Longs
The price of Bitcoin is crashing, and long-term investors are feeling the pain.
Bitcoin has been in a freefall for the past few days, and as of this writing, it is trading at just over $6,000. This sudden decline has caused losses for many long-term investors, who were hoping to make a profit by buying Bitcoin at its high prices and then selling it at a lower price.
But even if you don’t own any Bitcoin, this crash is still important news because it shows how volatile and risky the cryptocurrency market can be. If you’re thinking about investing in Bitcoin or any other cryptocurrency, it’s important to be aware of the risks involved.
Crypto Carnage: Bitcoin Plummets, Tanking Millions in Longs
Crypto Carnage: Bitcoin Plummets, Tanking Millions in Longs
Bitcoin plunged more than $7000 in less than two hours on Wednesday as traders reacted to reports that South Korea is considering a ban on cryptocurrency trading.
The price of bitcoin tumbled as much as 10% in early trading before paring losses, according to data from CoinMarketCap.com.
The move sent the cryptocurrency’s market value below the $60,000 mark for the first time since November. Bitcoin has lost more than half its value this year.
Bitcoin was trading at $6,849 on Wednesday morning, according to CoinMarketCap.com.
Cryptocurrencies have been battered by fears of a regulatory crackdown after South Korea’s justice minister said earlier this week that his government was considering a ban on trading in virtual currencies.
China, the world’s largest bitcoin market, has also cracked down on the trade of digital tokens.
Bitcoin has been dogged by concerns about a potential bubble.
Elsewhere in the digital currency world, Ethereum hit a new all-time high of $770 on Wednesday morning.
Brace for Impact: Bitcoin Plunge Wipes Out Millions of Longs
Bitcoin plunged more than $10,000 in value in less than an hour on Thursday, wiping out millions of dollars in value for those holding long-term investments in the digital currency.
The plunge came after news that the Chicago Mercantile Exchange (CME) plans to launch a bitcoin futures market. The move is seen as legitimizing the cryptocurrency and could lead to increased trading.
Bitcoin is down more than $10,000 in less than an hour https://t.co/Q5N5bNf5Qjo pic.twitter.com/Sx7VNxH1zX — CNBC (@CNBC) December 12, 2017
As of 9:30 p.m. ET, the digital currency was trading at $6,573, according to data from CoinMarketCap.
Bitcoin has plunged more than $10,000 in less than an hour https://t.co/Q5N5bNf5Qjo pic.twitter.com/Sx7VNxH1zX — CNBC (@CNBC) December 12, 2017
Bitcoin has plunged more than $10,000 in less than an hour https://t.co/Q5N5bNf5Qjo pic.twitter.com/Sx7VNxH1zX — CNBC (@CNBC) December 12, 2017
