{"id":394594,"date":"2019-08-29T10:00:43","date_gmt":"2019-08-29T10:00:43","guid":{"rendered":"https:\/\/ktsl888.com\/?p=394594"},"modified":"2019-08-29T08:45:46","modified_gmt":"2019-08-29T08:45:46","slug":"bitcoin-plunges-1000-in-a-few-hours-as-crypto-markets-quake","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-plunges-1000-in-a-few-hours-as-crypto-markets-quake\/","title":{"rendered":"Bitcoin Plunges $1,000 in a Few Hours as Crypto Markets Quake"},"content":{"rendered":"

Following days of consolidation Bitcoin has reached the end of its pennant formation. The big move that many analysts had expected came a few hours ago, and it was followed by a second slide resulting in a drop towards critical support levels.<\/p>\n

Bitcoin Dumps $1,000 Again<\/h2>\n

For most of this week, analysts have been largely undecided<\/a> on the next direction Bitcoin would take. Those that lent towards bearish would have been right as another huge red candle has sent the digital asset tumbling back into four figures.<\/p>\n

Optimism was quickly quashed following a brief climb to $10,250 during late trading yesterday. BTC did not stay there long and the resultant candle wiped out $700 in under an hour. The breakout from the wedge had occurred and it went heavily south.<\/p>\n

The next couple of hours saw BTC plunge to and hold around the $9,675 level. The pain was not over however and a second slide sent the king of crypto crashing down to $9,325 according to Tradingview charts<\/a>.<\/p>\n

\"bitcoin\"<\/a>
BTC price 4 hour chart – Tradingview.com<\/figcaption><\/figure>\n

The thousand dollar dump is nothing new though, it has happened five times since this rally began in April so investors should not be concerned. It even occurred earlier this month as pointed out by trader \u2018CryptoHamster\u2019<\/p>\n

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D\u00e9j\u00e0 vu$BTC<\/a> $BTCUSD<\/a> #bitcoin<\/a> pic.twitter.com\/OAyNLDwsHc<\/a><\/p>\n

— CryptoHamster (@CryptoHamsterIO) August 29, 2019<\/a><\/p><\/blockquote>\n