Bitcoin Price Falls $8K to 3-Week Low, Altcoins Crash

Bitcoin nosedived to a three-week low of $52,148 during Sunday’s Asian hours.

Bitcoin nosedived to three-week lows early Sunday, puncturing the frenzied speculative bubble built into several alternative cryptocurrencies (altcoins) in the wake of Coinbase’s recent debut on Nasdaq.

  • The biggest cryptocurrency by market value dropped from roughly $60,000 to $52,148 in 15 minutes during the Asian session, liquidating almost $4 billion worth of positions in the derivatives market, according to Messari’s Ryan Watkins.

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