Bitcoin Crash Wipes Out 18% Of Profitable Investors In 24 Hours

Quick Summary:

The percentage of Bitcoin investors in profit has dropped by 18% (from 93% at the end of July to the current 75%), coinciding with Bitcoin’s price falling below $50,000.

The price briefly touched $49,513 before a slight recovery brought it to approximately $54,600 at the time of writing.

Additionally, Arthur Hayes, co-founder of the trading platform BitMEX, suggests that a massive sell-off by a large investor could be behind the recent drop.

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Article Details

Author / Journalist: Sofiya

Category: Crypto

Markets: IndiaUnited States

Topics: Latest News 18 BITCOIN 15% 24 Hours Investors Bitcoin News Crash Profitable News Wipes Out

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-05 @ 21:05:07 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 340 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 21942721

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About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

Update Frequency: 15 posts per day

Year Established: 2020

Headquarters: India

News Last Updated: 17 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #121

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