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Bitcoin Price Trims $500 Only to Recover Minutes Later

  • Alex Dovbnya
    📰 News

    The Bitcoin price wraps up another week with even crazier price swings, but there is something to celebrate for the bulls

Bitcoin Price Trims $500 Only to Recover Minutes Later

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.

Cover image via u.today
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About the author

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.

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