Bitcoin drops below $17,000

The most important cryptocurrency in the world presented a significant drop this week, when in just two hours it lost 2,000 dollars

The data presented by the different trading pages showed how bitcoin was below 17,000 dollars, this being the most important minimum recorded in recent months.

In a span of two hours, the world’s largest cryptocurrency lost $2,000 of its value. At the daily close on November 8, a zone of interest for trading volume was around 18,400.

On the other hand, bitcoin long liquidations, within the exchanges, amounted to 214 million dollars, while for the rest of the cryptocurrencies they were liquidated for a value of 670 million.

Analyzing the situation, popular cryptocurrency commentators were cautious about putting an end to the price turmoil.

“It’s too early to tell how this will play out, but the fact that we’re seeing another exchange-driven liquidity crunch at this point in the macro structure is significant”, TechDev tweeted.

K. Tovar

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Source: Cointelegraph

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