Bitcoin news – live: Price flash crash triggers market-wide chaos


A bitcoin flash crash on Monday morning has sent leading cryptocurrencies tumbling, wiping more than $200 billion from the crypto market. Bitcoin dropped below $44,000 after falling more than 8 per cent in just a few hours, though even these losses were modest compared to its rivals. Ethereum (ether) fell by more than 10 per cent, while Cardano (ada), Solana (SOL) and dogecoin all fell by more than 13 per cent. Salvadoran President Nayib Bukele tweeted that he used the market crash as an opportunity to “buy the dip” and add to El Salvador’s stockpile, however some analysts warned that the latest price dip could form part of a longer term trend. Other experts remain convinced that any short term volatility will ultimately be forgotten as bitcoin rises to new all-time highs in 2021. You can follow all the latest news, updates and expert price predictions in our live blog right here. Key points Bitcoin price crash causes crypto market chaos Bitcoin sees huge interest from institutional investors 16:41 , Anthony Cuthbertson One thing that has been interesting about major bitcoin price crashes in 2021: each low has still been way above any previous high seen in 2020 or earlier. One reason for the lows being not as low as those in the past is that bitcoin is now bolstered by massive institutional investment. New research from Fidelity Digital Assets has found that 52 per cent of institutional investors now hold bitcoin or other cryptocurrencies We’ve heard from Simon Peters, a market analyst at the online trading platform eToro, who explains what this means for the overall crypto space. The results demonstrate the appetite of investors for cryptoassets in portfolios with some 80 per cent of Asian investors and 75 per cent of European investors saying they have plans to buy cryptoassets. 70per cent of Asian investors already hold some form of cryptoasset. An impressive 84 per cent of European and US investors expressed an interest in purchasing institutional investment products that contained cryptoassets. Simon Peters, eToro Bitcoin price pattern mirrors 2013 and 2017 15:29 , Anthony Cuthbertson The counter argument to the ‘dead cat bounce’ theory from the last post is that this bitcoin price crash is just a blip amid a record-breaking bull run. Similar dips were seen in 2013 and 2017 in the run up to new all-time highs, and some analysts have pointed to “consistent” market patterns this time around. Bullish analysts believe the peak of this current cycle is above $100,000 - way above the $64,000 price record seen earlier this year - and that it will be hit before the end of 2021. Currently at around $44,000, bitcoin has a lot of climbing to do if it’s to achieve that. #Bitcoin will *really* shock you with its consistency. — TechDev (@TechDev_52) September 19, 2021 Bitcoin price crash ‘dead cat bounce’ completed? 14:50 , Anthony Cuthbertson The latest price crash has divided bitcoin analysts over whether this is the beginning of a longer-term downward trend, or just a blip on the way to new all-time highs. According to the pseudonymous Mr Whale, who has racked up more than a quarter of a million Twitter followers with his largely pessimistic predictions, the recent price gains were part of a “dead cat bounce” price pattern. This is where the price rebounds during a bear market, before continuing to plummet. Mr Whale shared this image today to illustrate the phenomenon, though there has been plenty of pushback from crypto advocates dismissing this take.

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