Bitcoin Drops Over $1,000 in Minutes During Strong Rally

[Galaxy]

A “mini-crash” occurred during Bitcoin’s run toward $20,000 today, but it didn’t last long. What goes up can very quickly come back down.

Despite Bitcoin (BTC) continuing its triumphant price rally of late, it hit a notable road bump this morning, suddenly dropping by over $1,000 in just a few minutes—showing that traders can’t be too complacent. Just yesterday, Bitcoin’s price reached over $17,000 for the first time since January 2018. The next bastion of $18,000 fell soon after when the price of BTC gained 9% in 24 hours. But as the coin reached a 2020 high of $18,400, the bull run was briefly interrupted by a flash correction back to $17,200.

“It could be caused by overzealous leverage traders getting liquidated, or a whale cashing out, or a contract expiration, or a dozen other possible culprits,” Mati Greenspan, popular crypto analyst and founder of Quantum Economics, explained.
Info link: https://decrypt.co/48623/bitcoin-drops-over-1000-in-minutes-during-strong-rally