Bitcoin suffered a price crash earlier on Thursday, having missed record highs by a narrow margin earlier this week. The top cryptocurrency by market value fell from over $19,300 to $16,327 during the early European trading hours and was last seen trading near $17,200, representing a 10% drop on a 24-hour basis, according to CoinDesk 20 data.
“Bitcoin is yet to peak,” said Siddharth Menon, co-founder and COO of Mumbai-based WazirX exchange. “I’m also seeing a lot of pro traders take positions in bitcoin. These are healthy positions because they are not going all-in, but adding funds when it goes up or down.”
https://www.coindesk.com/3-reasons-bitcoin-crashed-by-3000-and-why-its-still-bullish
Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.
