Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Lenipiw on September 03, 2020, 06:51:50 PM
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Bitcoin miners selling as well as a strengthening dollar are some of the reasons the price of BTC saw a significant correction, dropping below $11,000.
The price of Bitcoin (BTC) dropped by 7% in less than two hours, liquidating over $100 million worth of longs on Sep. 3. On BitMEX alone, the sudden drop wiped out nearly $99 million worth of longs.
Three key factors likely caused the Bitcoin price to drop: miner outflows, the strength of the U.S. dollar, and major resistance.
Visit here: https://cointelegraph.com/news/3-reasons-bitcoin-price-suddenly-plunged-7-liquidating-100m-in-longs