Almost a $10K drop in price of Bitcoin in an Hour and El Salvador is the First to the Party
“The Price of BTC fell sharply to a temporary low of $42,000 and then quickly bounced back and is trading around $45,000 at the moment. With the drop El Salvador has bought 150 more Bitcoin at an average price of $48,670 per BTC”
There is a sharp drop in the price of BTC today. BTC has fallen around $15,000 in the last 24 hours and almost $10K in the last hour alone. The drop in the price of BTC has resulted in a plunge in price of the complete crypto markets with some coins dropping more than 20% in their value.
Bitcoin is currently trading the range of $45,000 after a temporary low of $42,000. Ethereum is down by almost $1,100 and other altcoins have taken even a bigger hit. The reasons for the sharp fall are not yet out and will be analyzed once more reports for the drop surfaces.
Meanwhile El Salvador’s President tweeted “El Salvador just bought the dip! 150 coins at an average USD price of ~$48,670” making El Salvador the first to the party. Though numerous long positions in BTC have closed in the last hour there are a number of investors that will buy this dip and will reap the benefits in the future.
Disclaimer: The article is meant for the educational purpose only and in no way it should be considered as a financial advice. Own research on the topic is advisable.
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