By CCN: On May 17, within minutes, the bitcoin price plummeted from around $7,800 to $6,400 in a flash crash, recording an unexpected 18 percent drop. The sudden decline in the bitcoin price led the valuation of the crypto market to plunge from $257 billion to $225 billion, by more than $32 billion in less than 24 hours. What triggered the sudden bitcoin price drop? According to researchers and investors including Su Zhu, the CEO at Three Arrows Capital, and Eric Conner, a product developer at Gnosis, the bitcoin price plummeted as soon as a several thousand bitcoin sell order
The post Newsflash: Bitcoin Price Crashes to $6,400 Triggered by Massive $35 Million Sell Order appeared first on CCN
* First published on ccn.com
