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Fear Returns to Crypto Market Following Bitcoin Price Crash

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The cryptocurrency market has succumbed to fear once again

Shocking Bitcoin Mining Fact Causes Fresh BacklashAccording to data provided by Coinglass, $320.86 million worth of crypto has been liquidated over the past 24 hours. Long positions account for the vast majority of these liquidations. As noted by analytics platform Santiment, the latest retrace came after longs started “pouring in” on exchanges of the likes of dYdX.

In fact, such eagerness to long Bitcoin has not been seen since March, the month the largest cryptocurrency hit its current peak. Liquidations happened quickly due to traders being extremely greedy. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.

 

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