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Crypto Market Sees Red as Bitcoin Price Drops $600 in 30 Minutes

Crypto Market Sees Red as Bitcoin Price Drops $600 in 30 Minutes
By: coindesk.com Posted On: August 28, 2019 View: 11

Crypto Market Sees Red as Bitcoin Price Drops $600 in 30 Minutes

Bitcoin’s price slid more than $600 in 30 minutes, falling back below $10,000 on Wednesday.

Beginning at 17:50 UTC and lasting until 18:20 UTC, BTC witnessed a large pullback from $10,200 to $9,600, followed by a small bounce near $9,740, providing temporary support.

Bitcoin opened the day at just under $10,200. Over the trading day, BTC broke above $10,250 a handful of times. The action culminated with a 30-minute sell-off.

At the time of writing, BTC is currently changing hands at $9,700.

Major names such as ether (ETH), litecoin (LTC), XRP (XRP) and EOS (EOS) also began to fall in value at around the same time as BTC, losing between 5-10 percent alongside bitcoin.

Indeed, most of the cryptocurrencies on CoinMarketCap’s list of top 100 cryptocurrencies and tokens saw red.

Disclosure: This author holds bitcoin at the time of writing.

Rollercoaster image via CoinDesk archives

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