Bitcoin (BTC) Meets Lowest Daily Close Since 2020

  • 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.

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