Bitcoin Leads $13 Billion Cryptocurrency Wipeout as Prices Fall Significantly
After weeks of sideways trading, Bitcoin experienced a sudden drop in the early hours of Thursday, falling by more than $400 in less than an hour. This decline comes after different analysts predicted an imminent price breakout for the top-ranked cryptocurrency.
Stock Traders Dumping Bitcoin to Offset Losses on Traditional Asset Portfolios
The leading theory making the rounds on Twitter is that Asian traders instigated the price drop. According to many analysts, Japanese day traders were forced into selling their Bitcoin to pay for substantial margin calls in the stock market.
Crypto getting spanked this morning in Asia. Hearing that Japanese day traders are leading the move lower, selling crypto to pay for unexpectedly big margin calls in stocks. Question is will Bitcoin @ $6,000 hold? pic.twitter.com/L3bQDZTZFr
— Yuji Nakamura (@ynakamura56) October 11, 2018
Indeed, Asian markets are experiencing similar declines to that seen recently on…
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