If you're closely monitoring the crypto market, then you must be aware of the Bitcoin Flash crash a few hours ago. It was a severe dip of almost $6000, right from $16000 to $10000.
Bitcoin was in uptrend for last 2 months and this kind of fall was highly expected by market 'gurus' and crypto traders. Some say it a 'healthy' fall while other says it 'bubble burst'.
Let's have a look at Bitcoin Statistics After The Crash & As Of Now:
After The Crash:
Bitcoin Market Capitalisation : $ 210 Billion
Bitcoin Price: $10500
Total Market Capitalisation: $ 463 Billion
As Of Now:
Bitcoin Market Capitalisation : $244 Billion
Bitcoin Price: $14500
Total Market Capitalisation : $ 544 Billion
So, the market has recovered by almost $90 Billion within a few hours. Bitcoin seems to be in Bullish uptrend again. It might be a 'Bull' trap but that is highly unlikely.
Let's have a look at Bitcoin Price Chart:
In above chart, Bitcoin is clearly making new higher Highs but the confirmation will be done after today's candlestick completion.
As of now, Bitcoin is in uptrend and that is evident by looking at the market capitalisation which is increasing as we speak.
Let's hope Bitcoin will recover soon as the most of the market depends of Bitcoin movement.
Thanks for reading ...!!
