Why Bitcoin had plummeted to below $ 12?

Today, Bitcoin has once again surprised investors with a sharp resurgence of volatility. In a very short period of time in a few minutes the main digital asset fell below 12 thousand dollars, depreciating by almost $ 1,800. Of course, abrupt change of direction of the price eliminated a decent amount of long positions with higher leverage.

At the moment Bitcoin is trading at 11 $ 165. In the past 24 hours the price of bitcoin has fallen to 15.1 percent. Perhaps what is happening is part of the forecast economist Alex Krueger. We will remind, earlier he declared that Bitcoin will be released to buy by mid-July.

The beginning of a new correction?

Some experts suggest that the discharge was the result of a sharp increase in demand for Bitcoin. The influx of new buyers has led to a surge of volatility, which was the reason for the fall of the local currency.

Today, even Coinbase for a very short period of time in a few minutes, went offline. Users of the exchange were seen on the start page just the error message that appeared immediately after the start of dump cryptocurrencies.

Traders also reported problems with other trading platforms. According to unconfirmed reports, at Binance observed failures in the execution of trading orders, and the orders were completed more slowly than usual.

However, some exchanges have been able to benefit from the hysteria around Bitcoin. For example, the trading volume on BitMEX set a new local record for the amount of transactions has exceeded the threshold of 13 billion dollars in just 24 hours.

Now Bitcoin is in the local downtrend. The dump could serve as a start for a medium term correction. Carefully follow the schedule and don’t forget about stop loss, if you’re going to open a long position with leverage.


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