The price of the world’s number one coin, Bitcoin, appears to have dropped sharply over the past night. After it previously hit a new all-time high of $67,000 just a few days ago. Until the latest price drop has led many traders to express their shock and question whether the uptrend is over.
The BTCUSD chart from TradingView reveals that the price of BTC tumbled to $59,953 sharply around 11 p.m. yesterday. After that, the price bounced back into zone 6 again, and shortly thereafter it returned to $61,129 while the news was being reported.
Bitcoin’s fall comes after it previously hit a new all-time high of $67,016 on Oct. 20. That broke the original price of $64,895 on April 14.
However, last night’s slump has left many to wonder if the Bitcoin rally is over. Compared to 2017, we can see that the big uptrend turned into a downtrend on January 1, 2018.
However, the up cycle of this time and the last time is very different. Therefore, it cannot be said whether this uptrend will end during the same time frame as 2017.
Binance CEO Changpeng Zhao has issued a warning to traders. ‘High Volatility’ After Bitcoin Drops to $8,200 on Binance.US Yesterday
The sharp drop in Bitcoin price on Binance.US has hit other exchanges around the world, including the number one US exchange Coinbase, which has seen Ethereum drop more than half from $4,000 to $2,000. in short
He said that “expected high volatility in crypto will occur over the next few months,” Binance CEO Changpeng Zhao, also known as ‘CZ’, said on Twitter shortly before the Bitcoin price on Binance. .US will fall suddenly
which we have to wait and see
/cloudfront-ap-northeast-1.images.arcpublishing.com/chosun/YKIDFP35IMKNCIMYURGNRR26DI.jpg?fit=300%2C300&ssl=1)
