3 REASONS FOR THE BITCOIN PRICE ‘Halving Dump’ FROM $10K TO $8.1K
The Bitcoin price dropped from $10,000 to $8,100, liquidating $200 million worth of shorts. Here are three factors that triggered the fall.
(1) $10,200 to $10,500 is a multi-year strong resistance area for Bitcoin
Since mid-2018, the $10,200 to $10,500 rangeserved as a historically strong area of resistance for the top-ranking cryptocurrency by market capitalization.
(2) Whales quickly moved to sell BTC at the point of rejection
Almost as soon as the rejection of $10,200 was confirmed, whales started to fiercely short Bitcoin across major cryptocurrency exchanges.
(3) Massive volatility ahead of halving
Ahead of the Bitcoin block reward halving set to occur on May 12, trading activity on all major cryptocurrency platforms surged significantly.
i bought on both sides of the drop, very odd !
Oh sorry dear!
hi @derolam
Good morning there. I've bumped into your account a moment ago and it's clear that we're sharing similar interests towards blockchain technology and crypto.
Perhaps you would like to check out this contest / challenge done by my good friend hardaeborla: "What is Bitcoin Halving ?".
Enjoy your weekend,
Yours, Piotr