Bitcoin, Crypto currency, Blockchain

Bitcoin exchange rate suffers an increase in Flash Crash 20% – Coin Hero

9c5d037b2d442b2b4b4a84b330950b2a - Bitcoin exchange rate suffers an increase in Flash Crash 20% - Coin Hero

Bitcoin exchange rate suffers an increase in the Flash Crash according to 20%

Home News Bitcoin price suffers a Flash Crash is a 20% increase in

Marcus Misiak –

After the almost record-breaking increase in the price of Bitcoin over the past few days, has suffered the BTC price in the last 12 hours of a significant setback. In the context of a Flash crash, the price fell by nearly $ 2,000.

The last 24 hours for Bitcoin investors and Bitcoin price is absolutely absurd. Only the Bitcoin exchange rate increased within 24 hours to almost 20%, as the key resistance of around 14,000 $ has been reached, then a Flash Crash followed, however. The BTC price dropped within 15 minutes of 13.860 USD – a – year high-just under $ 12,000. The yesterday’s rise meant that the Bitcoin price has risen in seven days by almost 50%, which strongly reminds us of the last Bull Run at the end of the year 2017.

However, what followed was a severe setback, as in the Candle Stick Chart is a great red candle in just one hour, nearly 2,000 US dollars disappear to let. In the crypto-scene, this is referred to as the “Flash Crash”. The decline continued, but not for long. At the time of writing, Bitcoin was already back at 12,800 per US Dollar, after it had recovered from the Dip quite sharply. During this turbulent time, the stock markets had trouble to keep pace. So Coinbase, both on the phone and on the Desktop, for example, was temporarily unavailable.

Despite the clarity of the rear-setter, combined with the fact that there was a 18% exchange rate fall, argue some experts that Bitcoin will now reach a higher value. But as the Analyst SAD (Sad And Decrypt) emphasizes that thinks BTC is still in a parabolic curve, which extends up to the low of 2018 of 3,150 USD. This suggests that the above-mentioned 2,000 USD Flash Crash may not be defined exactly as a “real” Dip, which means that a correction is on the table.

Other experts, such as Josh Rager also explained that it was the Crash not a “natural” event in the context of the market cycle. Rager has made it known, however, as setbacks (“Pullback”), although he has also drawn a small comparison to the previous Setbacks.

18% withdrawal on the $BTC daily Chart. If the Bitcoin price continues to fall until the middle of $10k…. (20+%) I would see this as a major setback, before continuing,. At the present time, I think Bitcoin is very bullish. The 18% retreat could be the new 30% withdrawal, which was we expect.

In view of the speed of the recovery, it does not seem useful to refer to the Flash Crash as a correction, a Pullback usually takes a little longer than just a couple of hours. What happens next could be crucial, however, if BTC can climb over US $ 13,000, then the Flash Crash was exactly. If the candles break, however, and the Bitcoin price fall in the next few hours under 12,000 dollars, we could experience a correction in a larger scale.

A decline of 30% or more compared to the recent highs would lead back to the Bitcoin price in the area of over 9,000 USD, where strong support lies. Based on the last Bull Run Ran Neuner explained that the Bitcoin price required 18 days to go from 10,000 to 20,000 USD. How it will go for the Bitcoin course, remains to be seen. The next days will show it.

Featured Image: R. classen | Shutterstock

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