- The price of Bitcoin (BTC) fell harshly as it dipped below $19,000.
- Bitcoin’s price now staggers towards the $18,000 mark as it continues to fall.
- The community says major Bitcoin-centric news later this September could turn the tides.
The price of Bitcoin (BTC) fell hard today. More so, it fell unexpectedly in the eyes of many, and is still continuing on its downward red trend. The crypto community is quite disheartened by the crypto market as other altcoins have also followed Bitcoin’s price dip.
In a shocking turn of charts, the price of Bitcoin (BTC) fell towards $18,000. According to CoinGecko, the price of Bitcoin (BTC) is presently $18,755.37. It has fallen drastically in under 24 hours.
A fellow concerned member of the crypto community takes to Reddit to share their point of view on the matter. The user shared their observation of the current crypto market on the CryptoCurrency thread on Reddit.
In detail, the user says that BTC dropped to $18,000 with $40 million long liquidations within 30 minutes. The user further points out the fact that this means the pioneer cryptocurrency has just hit its lowest daily close since 2020.
In particular, the post goes on to say that Bitcoin’s price was struggling to maintain its $20,000 and $19,000 mark. Now, due to broken support, it has dropped to below $19,000 as the price drifts closer to $18,000.
The post then highlights the fact that the next challenge will come in not having to repeat the low of $17,600 that occurred a few months ago. It seems to this user that the market saw much enthusiasm from a crowd that expected Bitcoin (BTC) to pump towards $25,000.
At the moment, Bitcoin seems to be destroying all its longs. Presently, it destroyed over $40 million long liquidations in just 30 minutes. Specifically, it seems to have lost $100 million in a similar manner in the last 24 hours alone.
The user then concludes the post by advising the community to keep a lookout for the next big influential Bitcoin-centric news. This will likely be the reveal of the new inflation data on September 13, as well as the FED meeting on September 20.
Recommended News :
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
