Bitcoin’s price saw a sudden vicious flash crash on one of the most popular cryptocurrency exchanges – Bitstamp. The price lost upwards of $600 in a single candle that lasted less than a minute.
Bitcoin Price Flash Crashes To $9,100 On Bitstamp
There are no boring days with Bitcoin. Just a few minutes ago, the price of the world’s leading cryptocurrency flash crashed on the popular exchange Bitstamp. The move was sudden and brutal.
The price went from $9,720 to $9,100 in a few seconds – the definition of a flash crash. The next minute, it was trading at around $9,600.
Flash crashes like these are the reason why it might be a good idea to always have a few orders placed down below. It’s not the first thing something like this happened, and those who had their orders placed lower made a nice profit on the instant move back up.
In any case, the dump in Bitcoin’s price resonated throughout the entire market as it decreased to about $9,250 and currently trades at $9,400, losing about $400 in a few short moments.
Altcoins Felt It Too
The altcoin market also felt the sudden dump as almost all of the large-cap cryptocurrencies have suddenly turned red.
Ethereum, Tezos, Chainlink, Ripple, all of them lost a chunk of their value as most of them were primed for a breakout.
Still, Bitcoin’s dominance dropped to about 66.8%, which means that at least against BTC, altcoins managed to mark some gains.
In any case, the most interesting part of it is that the market crashed moments after news broke out that a mysterious HODLer from back in the first days of Bitcoin transferred 50 BTC to an unknown address.