Bitcoin crashes, loses $10,000 in value

Bitcoin’s bull run hit a rock today, Monday, resulting to the bitcoin price dropping in value, that resulted to a loss of $10,000 in bitcoin value as the cryptocurrency heads toward shattering the $60,000 mark.

As at Sunday, February 21, 2020, Bitcoin had traded at highest $58,000, but the value came crashing down in the last 24hours, trading around $47,000.

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The decline followed a massive run of rise since December when bitcoin surpassed $20,000 for the second time since its creation in 2009.

The fall, however, still put bitcoin at a strong position when compared to the position it was this period in 2020. The recent decline in bitcoin didn’t last, as it rebounded fast, trading at $52,171, as at last check.

Ripples Nigeria gathered that the decline occured after an unknown whale moved 13,000 bitcoin off of Coinbase, a cryptocurrency exchange, to a wallet.

This is equivalent to about $750 million, according to Documenting Bitcoin.

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