Bitcoin Price Drops 20 Percent. Here’s What Happened

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News in Brief 📰 Expert to Bloomberg: Bitcoin Is at the Start of Next Parabolic Cycle 📰 ConsenSys Partners with Louis Vuitton to Set Up Blockchain for Luxury Products 📊 BTC, ETH, XRP Price Prediction — The Necessary Correction Has Started: Where to Catch the Bottom?   Friday, May 17 has started with the needed rollback on the crypto market; the total market capitalization has declined by $20 bln overnight. Currently, there are no vivid fundamental reasons for today's decline – traders fix their positions. All this happens against the significant increase in the number of unconfirmed transactions in the Bitcoin network. At the time of writing, about 61 thousand transactions are stuck in the mempool. 👉 Read the article 〽️ Bitcoin Price Drops 20 Percent. Here's What Happened The most obvious reason for the flash crash was triggered by a mammoth-size sell order of 3,645 BTC that was executed on Bitstamp at around 10:00 PM ET. That essentially explains why there was such a huge price spread between Bitstamp and other cryptocurrency exchanges, such as Bitstamp and Coinbase. A startling $250 mln worth of longs on BitMEX was liquidated after the BTC price plummeted as a major slap in the face for the bulls. 👉 Read the article 💡 What Else? ⏬ Bitcoin Price Loses Almost $1,000 Overnight, Pulling Crypto Market into Red 💣 Trading Expert Suggests Bitcoin Cash Price Is on the Verge of a Breakout 💰 Donald Trump Could Be Responsible for Bitcoin Price Surge 🤯 As Bitcoin Price Crashes, Were the Recent Gains Just a Bull Trap? 🌟 BTC/USD Price Prediction — Are Bulls Making a Pause Before $10,000?   In our Telegram channel, you'll find fresh news, interviews, infographics, forecasts & other helpful stuff: Read our Telegram channel Copyright © 2019 U.Today, All rights reserved. Our mailing address is: editor@u.today Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only.

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