Bitcoin, which broke the record last weekend, fell by $ 1100 in less than two hours!

Bitcoin, which broke a record last weekend with $20,000, fell by $1100 in just 80 minutes, creating question marks. had caused. The world’s most valuable crypto currency, which slowed down its decline throughout the night, was trading at $ 18,401 at around 5.30 am.

The sudden drop started at 6.36

Bitcoin, which broke many records recently, is today at 5.30 $300 fell further in the -6.30 range and the real decline was after that. Bitcoin’s price fell from $18,144 to $17,255 in just 16 minutes, in the range of 6.36-6.52, and most of this move took place in just seven minutes. Compared to $17,978 in . /p>

According to analysts, the hacking of the South Korean Youbit exchange and the collapse of its parent company had a share in this decline.. However, considering Youbit’s role in South Korea’s cryptocurrency market is not very significant, the accuracy of this determination is questionable.

Also, Bitcoin continued to trade for around $20,000 on the Korean mega exchange Bithumb.. This shows that Korean traders are not too worried about the hack.

“Bitcoin, which also broke a record with its fall”

Following the astronomical rise that arose during the launch of Bitcoin futures by major investors on the CME frightening weak investors to take profits, the most consistent scenario at the moment. Because the global average Bitcoin price has dropped by nearly $2,000 since the start of CME futures Sunday, and investors are starting to worry that Bitcoin will enter the new year with a decline. can be attributed to investors accelerating their transactions with the rebalancing of capital. Ethereum, Bitcoin Cash and EOS performed very well earlier in the week, with almost all of the most valuable Altcoins gaining against the dollar.

CCN