Fears of regulatory moves come as a brief hash rate crash from a Chinese power blackout already begins to rebound.
Bitcoin (BTC) fell to sudden lows of $52,000 on April 18 in a timely reminder of how price action often follows hash rate. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewChina, US rumors lead the BTC sell-offCointelegraph Markets Pro and TradingView showed a brutal hour for Bitcoin bulls everywhere early on Sunday as the market went from $59,000 to $52,000 in minutes.Having lost $60,000 support earlier in the weekend, BTC/USD was still fairly stable before the snap price event, which liquidated positions worth almost $10 billion over the past 24 hours.At around $7,000, the hourly loss challenges the record reversal seen in February after Bitcoin hit $58,000 for the first time. In the aftermath, analysts pointed to two events as potential causes: a hash rate crash and rumors from unnamed sources th
Źródło: https://cointelegraph.com/news/bitcoin-price-drops-to-52k-liquidating-almost-10b
