Bitcoin Dumped … More than $15 Billion Vanished

On Feb 25, 2019

Bitcoin dumped hard…

Bloodbath in the market. Yesterday the Bitcoin and crypto market hit very hard. The whole market is affected by the dump. Most of the cryptocurrencies showing losses in double digits.

Top 20 cryptocurrencies are all in red. Most of the top 20 cryptocurrencies showing double-digit losses. This dump has happened in just a blink of an eye. Bitcoin drops from $4150 to $3720 in just an hour according to the coinmarketcap data.

Bitcoin is trading at $3840 (at the time of publishing) and showing 8.15 percent loss. Bitcoin is again at the same point as started this week.

Bitcoin is showing good gains over the past couple of weeks that is ruined by just one night. CME group tweeted on 21 Feb that the positivity in the Bitcoin market leads the record highest volume in CME Bitcoin futures market on 19 Feb. Over 18k contracts are traded on that day.

Maybe this dump is manipulated by the whales. A lot if long positions triggered after Bitcoin breaks the $4000 resistance and whales liquidate them all in just a single click. Whales manipulate the Bitcoin price since the starting of the crypto market.

Ethereum the second cryptocurrency by market cap hit very hard by this dump and loss more than 15 percent in a day. Ethereum is trading at $139 and drops from yesterday high $165. Ethereum is now trading below the weekly price. The total market cap of Ethereum is $14.6 Billion.

Ripple’s XRP the third largest cryptocurrency by marketcap able to defend the $0.30 support. XRP is showing more than 10 percent losses according to coinmarketcap data.

EOS stay strong in the storm. EOS outperformed Bitcoin and all top 20 cryptocurrencies. EOS is trading at $3.60 now and 30 percent above the weekly price.

All major cryptocurrencies are facing heavy sells in this dump. The market will start recovering soon.

As reported by Bitcoinik yesterday, Liechtenstein Bank is launching its own cryptocurrency platform.

Reddit Co-Founder believes that this bear market is good for Bitcoin and cryptocurrency market