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Why did Bitcoin drop? Analysts point to 5 potential reasons By Cointelegraph

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IntroductionElon Musk’s SpaceX reportedly selling its () holdings, the of a Chinese property giant, and ...

Elon Musk’s SpaceX reportedly selling its () holdings,Global dealer supervision query foreign exchange eye the of a Chinese property giant, and fears of interest rate hikes have been among the theories raised as to Bitcoin’s freak price dip.

On Aug. 18 around 9:35 pm UTC, the price of Bitcoin suddenly plummeted over 8% in a span of 10 minutes, taking with it the wider cryptocurrency market, leaving many in the crypto community scratching their heads.

Why did Bitcoin drop? Analysts point to 5 potential reasons By Cointelegraph

SpaceX offloads Bitcoin, interest rate fears

Government bond yields

Chinese still a risk to Bitcoin

Whale's selling big

More than $427 million worth of Bitcoin long positions have been liquidated in the last 24 hours. Source: Coinglass

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