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Bitcoin Price Falls $1,000 in Minutes to Drop Below $10k

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Bitcoin Price Falls $1,000 in Minutes to Drop Below $10k

Postby MrFredPFL » Wed Nov 29, 2017 5:49 pm

Story : https://www.coindesk.com/bitcoin-price-falls-1000-minutes-erase-24-hour-gains/





The price of bitcoin fell more than $1,000 in the span of about 10 minutes on the CoinDesk Bitcoin Price Index (BPI) today, just hours after the cryptocurrency set an all-time high above $11,000.

Beginning about 19:20 UTC, sell orders began piling up on exchanges in what was perhaps one of the market's most impressive successions of red candles in some time. After showing signs of stability above $10,000 at 18:30 UTC, the price hit a low of $9,290 at 19:30.

However, data shows some exchanges were more affected than others.

According to social media, the price decline coincides with reports that GDAX, the exchange offering of cryptocurrency startup Coinbase, had seen a service outage that is currently ongoing. Data from GDAX indicates the exchange hit a low of $8,593 before going offline.







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