Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Triedboy on June 18, 2022, 12:47:42 PM
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Bitcoin plunged below $20,000 on Saturday morning, a significant support level for the top cryptocurrency. On Saturday morning, Bitcoin dropped below $20,000, according to data from CoinMarketCap—a milestone seen as a crucial support level for the top cryptocurrency by market cap. At time of going to press, Bitcoin is trading at around $19,460, down over 6% on the day.
Although BTC breaching $20,000 is a largely symbolic barrier, experts believe a drop below this level could trigger a wave of ‘forced liquidations’, in which large-scale crypto investors will be forced to close positions on BTC derivatives products because they now possess insufficient collateral. Such events would likely only further drive down the price of Bitcoin, triggering further liquidations.more (https://decrypt.co/103140/bitcoin-falls-below-20000-ethereum-tests-1000)