Bitcoin Tumbles as Stellar Run for Digital Tokens Loses Footing
- Crypto ‘Flash Crash’ sent Bitcoin tumbling in Asian trading
- Technical analysis shows failure to breach trading envelope
This article is for subscribers only.
Bitcoin slumped Friday bringing this month’s spirited surge to a halt and taking rival coins down with it.
The downdraft came after the world’s largest digital currency more than doubled in 2019, with many participants struggling to pinpoint reasons for the rally. In regard to Friday’s spike, the exchange Bitstamp tweeted that it executed a largest sell order and they were investigating it, as they would with any event that causes large-scale movements.