Main navigation

Bitcoin Suddenly Plunges 5% in Minutes. Here's Why

Tue, 09/27/2022 - 17:11
article image
Alex Dovbnya
Bitcoin has slumped below the $19,000 level once again, erasing its gains
Bitcoin Suddenly Plunges 5% in Minutes. Here's Why
Cover image via

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

Bitcoin, the largest cryptocurrency by market capitalization, has plunged 5.48% in less than an hour.

The crypto king reached an intraday low of $18,935 on the Bitstamp exchange, erasing all of its gains.

Image by

Bitcoin surged to as high as $20,381, reaching its highest level in roughly a week.

However, the cryptocurrency tumbled lower together with U.S. equities. Benchmark stock market indices plunged lower this Tuesday, with the S&P 500 and the Dow trading 0.7% and 0.6% lower, respectively.

Bitcoin is still down 4.47% this September after losing 13.5% in July. The largest cryptocurrency is down 72.28% from its record peak.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at