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    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Ethereum Price Key Indicators Point Firming Case For Recovery Above $1,250

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    XRP Whales Accumulate Massive Tokens

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    Solana Rally Could Gather Pace above $30

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    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Best Crypto Exchange Affiliate Programs in 2023

    Best Crypto Exchange Affiliate Programs in 2023

    What does Crypto Index fund Means and How to Invest?

    What does Crypto Index fund Means and How to Invest?

    Who Will Reach $1 First In 2023?

    Who Will Reach $1 First In 2023?

    5 Best New BSC Cryptocurrencies To Invest In 2023

    5 Best New BSC Cryptocurrencies To Invest In 2023

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

  • Analysis
    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Bitcoin Price Resumes Increase as The Bulls Aim Larger Rally To $25K

    Ethereum Price Key Indicators Point Firming Case For Recovery Above $1,250

    Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet

    Bitcoin Price Consolidates In Key Range, What Could Trigger Next Move

    Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam

    Ethereum Price Offers Trade Opportunities After Recent Bullish Breakout

    Ethereum Price Another Rejection Signals Risk of Bearish Reaction

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

    Rallies 10%, Polygon Bulls Aim Big

    Rallies 10%, Polygon Bulls Aim Big

    XRP Whales Accumulate Massive Tokens

    XRP Whales Accumulate Massive Tokens

    Solana Rally Could Gather Pace above $30

    Solana Rally Could Gather Pace above $30

    BNB Price Rebounds Toward $250 But Risk of Drop To $200 Still Exists

    Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support

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Lucky Buyers Possibly Bag $8K Bitcoin During Early Morning Flash Crash

2021-10-21
in Bitcoin
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Lucky Buyers Possibly Bag $8K Bitcoin During Early Morning Flash Crash
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Extremely risky cryptocurrencies like Bitcoin, Ethereum, and different altcoins can behave irrationally at any given second, particularly when turbulence strikes. However what occurred this morning on the US department of Binance, was surprising for even those that have seen flash crashes occur in actual time.

The results of an enormous wick left on the BTCUSD chart was a violent journey to $8,000 the place cash had been probably exchanged for costs which might be at the moment 87% decrease than the place Bitcoin is buying and selling at proper now. Here’s a nearer take a look at what went down, and what might need occurred because of this.

Flash Crash On Binance US Takes BTC Again To $8,200

In case you’ve been in crypto for a while, likelihood is you’ve heard some horror tales. Different customers have misplaced funds as a consequence of hacks, despatched funds to the improper tackle, or worse. What few ever expertise, nevertheless, is getting caught up in a flash crash.

Associated Studying | Bitcoin Worth Units New All-Time Excessive Above $65,000

We don’t imply a specific sturdy selloff, however a “flash crash” that sends the value of an asset diving so deep, it will possibly usually deliver them again to shut to zero.

Whereas this morning Bitcoin worth didn’t fall again to nothing, it did get a digit knocked off its price ticket, and about 87% of the worth per coin, in keeping with the Binance US BTCUSD worth chart.

BTCUSD_2021-10-21_11-37-34

The wick left behind on Binance US reached August 2020 ranges | Supply: BTCUSD on TradingView.com

The flash crash took the fee per BTC again to pre-bull market breakout ranges from again in August 2020. It additionally was roughly an 87% fall from present costs, which was a bigger drawdown proportion clever than the bear market from $20,000 to $3,200 on the low.

Bloody Bitcoin Wick Leaves Shock And Awe Behind

The hourly chart under is a greater demonstration of how ridiculous the wick regarded on decrease timeframes because it was occurring. The wick reached as little as round $8,200.

BTCUSD_2021-10-21_11-53-42

The hourly chart exhibits how deadline the wick was | Supply: BTCUSD on TradingView.com

Any fortunate Binance US customers with a restrict order able to go may have gotten crammed throughout the insanity, which additionally signifies that some poor pleb may have bought their cash at a value of $8,200 – considerably decrease than the present worth per Bitcoin, which simply yesterday reached a brand new all-time excessive.

Associated Studying | Bitcoin Worth Prepares To Blast Off Again Into RSI “Bull Zone”

Previously, property like Chainlink and even Ethereum have flash crashed down to just about zero. Retaining orders prepared on an change can reap the benefits of conditions just like the above. However these uncommon occasions aren’t predictable and might strike at any second.

So which legend purchased $BTC at $8000 right this moment?

— Simon Dedic (@scoinaldo) October 21, 2021

Comply with @TonySpilotroBTC on Twitter or be a part of the TonyTradesBTC Telegram for unique day by day market insights and technical evaluation schooling. Please observe: Content material is instructional and shouldn’t be thought-about funding recommendation.

Featured picture from iStockPhoto, Charts from TradingView.com



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