Crypto crash today? Huge drop and sell off

In the last two hours we see a serious drop in the prices of popular currencies. Then, as always, others follow in the footsteps of previous participants and sell their crypto coins. Experts from CoinDesk say Bitcoin will bounce back and return over $ 10,000 in 24 hours!

Crypto crash today?

As you can see in the picture below, popular currencies lost 20-30% in value. But many say nothing bad is happening. Such drops are normal and they happen very often. One of Reddit’s users said that:

“You are crazy again, one has sold, the others are doing the same and the wave goes forward and the next naive sell out the coins.”

Crypto coins crash and sell off

Hysteria, therefore, is probably part of this market and cheap satiings will happen. See charts on the popular crypto market here.

Huge drop and sell off. What’s happening?

As you can see in the chart below, BItcoin lost today (16/07/2019) over $ 1,300. That’s how much and those who observe the charts also start selling BTC. Yes, that’s a lot and those who are watching the charts are also starting to sell BTC. But thisĀ has already happened this month 2 times. And it is only the middle of July. So (maybe) that’s what the popular currencies are going to be doing now. What are the reasons for the fall in prices?

The above chart shows a large drop in the BTC price on 16/07/2019. However, we also had a similar situation recently.

  • Every day, information about the Libra coin flows, and depending on the information that appears in the media, people nervously react to the prices of other crypto currencies.
  • Today information appeared that a new analysis shows the movement of the bitcoin stolen from various wallets. The hack, which netted 7,000 BTC, happened on May 7, 2019 at 17:15:24 UTC and the hackers have been moving stolen bitcoin from wallet to wallet.

As we read on CoinDesk:

“The bearish lower highs and lower lows. BTC, therefore, could fall back to $ 10,000 in the next 24 hours.”

In summary, many people from Reddit think that you should not go too hastily and wait a few hours to read the media. For now, the downward trend is normal.