Bitcoin price drops 87% to $8K

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Bitcoin price drops 87% to $8K

Indeed, you read it right. Recently, the Bitcoin price dropped 87% to a whopping $8K on the US version of the Binance trading platform, Binance.US.

The huge Bitcoin crash

The huge crash in the price of Bitcoin took place on October 21, and the price dropped to a figure of $8100. However, only when trading on the US version of Binance, called Binance.US.

The price dropped for a total of only 1 minute. At the beginning of this minute, the price was at $65,815 and dropped by 87% all the way to $8100. Such a moment is called a “scam wick” by traders. Binance.US is the only exchange on which the price dropped so much, this because a mistake was probably made by a user of this exchange. So a very expensive mistake…

“Good thing Americans are forced on to these dogshit exchanges where they can get completely scammed on unreasonably thin books. This type of shit just shouldn’t be happening. It’s not fair that some get stopped out and some stay in, some get fills and some don’t.” so indicates Crypto Chase in a tweet. So he seems to be absolutely not happy about what happened at Binance.US.

A funny fact is that the CEO of Binance, Changpeng Zhao, tweeted earlier on the same day (October 21) that we can expect high crypto volatility in the coming months. Of course, he too did not expect what would happen later that day.

Bitcoin of course also recently set a new all time high (ATH) and went all the way to the $67,100 mark. Are you confident that Bitcoin will go to $100,000 this year? Then it may be smart to anticipate it, for example through Binance. Just click on this link and buy your first bitcoin within 5 minutes.

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Disclaimer: Trading and investing in cryptocurrencies (also called digital or virtual currencies, altcoins) involves a substantial risk of loss and is not suitable for every investor. You are solely responsible for the risk and financial resources you use to trade crypto. The content on this website is primarily for informational purposes and does not constitute financial advice.

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