The Bitcoin price has recently experienced an enormous level of volatility, which was allegedly caused by a massive long position getting liquidated on the BitMEX cryptocurrency exchange.
According to CoinMarketCap data, it plunged to the $9,112 level before a massive spike that pushed the price to $9,680.
While market manipulations remain rampant, popular cryptocurrency trader ‘Don Alt’ has recently made a bullish case for Bitcoin. The fact that BTC outlined $9,500 support could mark the bottom of this correction.
Bitcoin Price Trims $500 Only to Recover Minutes Later
The Bitcoin price wraps up another week with even crazier price swings, but there is something to celebrate for the bulls
Cover image via CryptoComes.com
Alex Dovbnya
Alex covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. He’s a firm believer that Blockchain has the potential to reshape pretty much every business out there, and cryptocurrencies are only a stepping stone to the upcoming decentralized revolution.