Price Plunge Came From $1.2B Sell-Off
Was busy yesterday and missed following much in the cryptosphere, checked Bitcoin’s price and imagine my shock last night when I saw the drop. No worries but the amount of negative press that creeps-up when these drops happen is annoying af. Here’s a bit on the plunge for any interested
BITCOIN PRICE PLUNGE CAME FROM $1.2B SELL, DATA SAYS AMID HASHRATE ROW
“BYTE TREE: EXCHANGE TRIGGERED ‘SHORT TERM PANIC’
That was the conclusion of monitoring resource Byte Tree, which provided fresh data for the past 24 hours’ trading activity on Wednesday.
The theory offers a new perspective on the tumultuous week for Bitcoin investors. They watched as the largest cryptocurrency fell by up to 20% in hours.
According to Byte Tree, a transaction from a private wallet to an exchange worth $1.2 billion triggered the dip. The scale of funds at involved sparked a panic selling session.”