Bitcoin price drops $1400 in minutes

Bitcoin reminded investors of its high volatility in the world’s biggest crypto market as it lost about $1400 in just 30minutes, a few hours ago. BTC, the world’s biggest crypto asset by market value, initially surged in trading $12,112 in the early hours of trading on Sunday morning, reaching $12,000 since August 2019. Data from Coinmarketcap showed it plunged to about $10,638 30 minutes after that high. READ ALSO: ChainLink’s digital coin skyrockets 388% in 130 days, still soaring “Clearing resistance at $10,000-$10,500, which coincided with the downtrend line from the late 2017 highs and first-quarter 2020 highs, established a higher high for Bitcoin confirming a new tactical uptrend,” according to Rob Sluymer, the technical strategist at Fundstrat Global Advisors LLC. Bitcoin’s plunge was bad news for the bulls. By falling back around the $11,000 psychological support, it has shown a likely downward trend as investors start to close their positions.