Bitcoin Price Drop: BTC Loses $400 in Just 30 Minutes
It was looking so promising for Bitcoin price last week. The largest coin by market cap surged passed the $4,000 USD mark, only to crash back down on Sunday, February 24th.
Bitcoin Price Drop
Bitcoin dropped a huge $400 USD in just 30 minutes, declining 10% from $4,150 to roughly $3,805 in a short space of time.
There was no catalyst for the sudden drop, except for investors taking their profits while they can.
$4,180 was a six-week high for the coin, and while the price has dropped, daily volumes are still at year-highs of over $10 billion. The coin managed to clamber up $700 in value across last week.
Today is telling a different story for Bitcoin price: BTC is up 1.71% and selling for $3,894 USD at the time of writing according to CoinMarketCap.
Altcoins Drop Too
As is usually the case, when Bitcoin price suffers a decline, altcoins also take a tumble.
Ethereum (ETH) lost almost 9% in the same period and fell to $139, having started the day at $148. Now, it too has repaired some losses and is back in the green by 0.37%. ETH is currently selling for $140.90.
The third largest coin by market cap, Ripple (XRP), also told a similar story. It lost roughly 7% in the last 24 hours but has rebounded today. XRP currently trades at $0.31 USD and is up 3.30%.
Bitcoin price is being outshone today by two coins in the top ten. Litecoin (LTC) and Bitcoin Cash (BCH) are both rebounding well after the weekend's crash.
Litecoin is trading at $47.06 USD and is up 4.70% on the day.
Bitcoin Cash is today's biggest gainer, however, trading at $138.49 USD per coin; it is up 4.87% at the time of writing.
>> OKEx C2C Platform Adds Ripple (XRP) and Bitcoin Cash (BCH)
Bitcoin (BTC) has spent much of the last week in freefall, sinking to a low of $8,520, just as the Coronavirus outbreak prompts widespread panic in the financial world due to its potentially cataclysmic impact on … Read
Over the last couple of years, the crypto space has grown considerably, and nowadays there are around 2,500 cryptocurrencies in addition to Bitcoin. However, BTC still remains the most valuable and the biggest cryptocurrency in the … Read
Bitcoin enjoyed one of the strongest runs since the latter part of 2017 during the first half of this year. During those first six months, the cryptocurrency gained in each of the six months of the … Read
On May 11, 2020, Bitcoin successfully executed its third block reward halving. Bitcoin halving events usually occur every four years, and the first and the second events took place in 2012 and 2016, respectively. Since …
Are you interested in purchasing Bitcoin? If so, it’s essential to understand the potential security risks surrounding it. With cybercriminals ramping up their attacks, cryptocurrency will likely be a target. Here’s what you need to …
Theft has been a problem in all of history, but the digital age brings new challenges. While digital currency has several advantages over cash, it comes with some unique risks, like hacking and online fraud. …
If you’re like many, you’ve probably heard a lot about cryptocurrency in the past few years. It grows in popularity every day, and for businesses, it could save them money. When deciding if cryptocurrency will …