Dec 04, · Bitcoin is vulnerable to a steep decline with the first local barrier around $18, If this one is cleared, sell orders may skyrocket creating a ripple effect across the entire market. Losing. Nov 26, · The Bitcoin market crashed overnight, with the price of Bitcoin dropping by 11% in the last 24 hours. Over the last few months, the Bitcoin market has been on a major bull run. BTC/USD is trading at $10, after a notable 2% dip today after the negative news from BitMEX. ETH/USD had similar price action but remains stronger than the rest at $ Bulls are trying to.
Market crash btcWhat Caused the Bitcoin Market Meltdown? - Decrypt
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The cryptocurrency market slipped into a red zone, with all major altcoins nursing significant losses. The decentralized exchanges are benefiting from a vast number of projects being listed, and the users coming in for yield farming opportunities. It seems to become a trend that users would sell cryptocurrencies in centralized exchanges and go to decentralized exchanges instead.
To maintain liquidity and retain users, centralized exchanges moved swiftly. It was reported that some mainstream cryptocurrency exchanges like Huobi and Binance are now listing new tokens for free. Additionally, centralized exchanges have the incentive to drive down cryptocurrency prices, to lock up their users on their exchanges.
The unstoppable stories of wealth creation are really eye-catching, especially for some skyrocket tokens when lots of people are suffering economic recession and city lockdown. As some of the investors see profits, they may cash out urgently when negative news surfaces.