min to read

2019-09-25 10:51:02




News

THE PRICE OF BITCOIN FELL BELOW $9000 FOR THE FIRST TIME SINCE JUNE, BUT THE HASHRATE HAS RECOVERED

The price of bitcoin on high volumes fell

min to read

2019-09-25 10:51:02

On Tuesday, September 24, the price of bitcoin on high volumes fell from $9400 to $8070. At the same time, quotes fell by $ 1,400 in less than two hours - from 18:00 to 20:00 UTC.

On Tuesday, September 24, the price of bitcoin on high volumes fell from $9400 to $8070. At the same time, quotes fell by $ 1,400 in less than two hours - from 18:00 to 20:00 UTC. Losses of some altcoins at this moment reached 30-50%.

 

For the first time since mid-June, bitcoin has fallen below $9000 and is trading around $8,500 at the time of writing.


 

As a result of the collapse, the amount of open positions on the BitMEX bitcoin exchange fell by almost $200 million in just a few hours. The last time such values ??were recorded during a flash crash on May 17.

 

 

At the same time, long positions for $640 million were liquidated on BitMEX.


 

Traders also recorded a wide spread between BitMEX and Coinbase quotes. At one point, it reached $ 600.

 

 

During the collapse, an unknown player made huge purchases on Coinbase, as can be seen in the chart below.

 

 

Trading volumes on Binance Futures for the last 24 hours amounted to $700 million, and on the spot - $800 million. Similar figures were demonstrated by the Chicago Mercantile Exchange (CME).

 

 

Bitcoin critic Peter Schiff has already predicted the asset will fall further to $4,000 and below, while his opponent Anthony Pompliano said he had bought it on the fall.

 

 

 

"Short-term price jumps of bitcoin have no impact on the long-term picture," Pompliano concluded.

 

The hashrate of the first cryptocurrency network, which fell by 30% the day before, reached 92.8 EH\/s on Wednesday, September 25.


 

Some users have suggested that Bitmain could temporarily disable new ASIC devices to sell them to a large client but no one has officially confirmed this version.

 

 

The leaders of the fall in the TOP 10 were Bitcoin Cash, Bitcoin SV and EOS. They collapsed by more than 20%. At some point, BSV dropped by more than 30%, and another fork of Bitcoin Gold - by 50%.

 

 

‘If you're having a bad day, check the price of the BSV and make sure Craig Wright has a worse day.'

 

The overall market situation at the time of writing is as follows:


 

According to Messari, bitcoin fell 70 times more than 10% during the day. This is 2.4% of all days since August 1, 2011.

 

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