Bitcoin dips to $8660 in a split second

27 May, 2019 | Updated: 27 May, 2019
by Will Heasman
Breaking News
Bitcoin dips to $8660 in a split second

Within the last few minutes Bitcoin dropped as much as 2.6% in a split second, going from testing against $8900, looking primed to tease $9k to instantly getting rejected and plummeting down towards the mid $8k level.

Right now Bitcoin (BTC) is recovering well citing a price of around $8740 as the bears struggle to keep BTC down and the bulls fight with everything they have to keep the dream alive. 

BTC/USD Chart provided by Tradingview

The dip was noticed instantly by a few on crypto Twitter.

Analyst Josh Rager noted the violent dump, suggesting that staying above 8600 would provide enough support to keep BTC above water. The analyst also noted that alts managed to keep their cool despite the sharp dip.

However, one simply laughed it off, blaming the panic on watching charts too closely:

So, while a $300 loss in 5 minutes isn’t the best way to get the blood flowing, it also isn’t too bad. Given Bitcoin recent major increases it's perhaps expected that we get these pullbacks from time to time… Let’s just hope BTC is done with the volatile moves downwards for now.

What do you think of this move? Is bitcoin going lower, or is this just a mini dip before takeoff? Let us know in thee comments!  

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Read more about: Bitcoin (BTC)

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