Bitcoin Trading in the Red After Erasing $4K in Minutes

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Thu, 01/07/2021 - 18:57
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Alex Dovbnya
Bitcoin has erased its historic gains in practically no time
Bitcoin Trading in the Red After Erasing $4K in Minutes
Cover image via stock.adobe.com

Bitcoin has turned extremely ugly shortly after hitting $40,000, erasing over $4,000 in minutes. The top cryptocurrency is now trading in the red on the Bitstamp exchange in a rapid turnaround. 

Bitcoin
Image by tradingview.com

According to Bybt data, over $285 million worth of Bitcoin has been liquidated over the past hour.      

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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 alex.dovbnya@u.today.