Bitcoin suddenly collapses below US$ 19,000: New all-time high causes volatility
BTC price collapses by USD 1,600 New all-time high attracts sellers and ether also falls below 600 US dollars.
Bitcoin (BTC) is still showing incredible volatility on 1 December, reaching lows of USD 18,400. Shortly before, it was by Ethereum Code close to breaking through $20,000. However, it still reached a new all-time high.
Bitcoin: USD 1,600 decrease in less than 2 hours
Cointelegraph Markets and TradingView followed the BTC/USD pair when it was more unpredictable than at any time in its history.
At the time of going to press, the pair was trading in a range between $18,500 and $19,000. However, from minute to minute the conditions change.
Shortly before, Bitcoin had tried to break through the $20,000 mark. At this mark, it buckled down and fell by $1,000 to $19,000 in less than ten minutes.
Last week Bitcoin had already reacted similarly when it tried to break through $19,500.
furtherAs reported on Monday that traders are now probably waiting to see whether the new BTC futures gap between $16,900 and $18,300 will be filled. For this to happen, the price would have to fall further.
Ether price disappoints at start of Ethereum 2.0
The volatility also affected the Altcoins. Ether (ETH) fell abruptly below USD 600 and stood at USD 575 at the time of going to press. It thus lost the gains of the previous day.
The development put a damper on the launch of Ethereum 2.0. The upgrade of Ether was already eagerly awaited.