World »  Topic »  A Massive Bitcoin Flash Crash Just Created $1 Billion Of Crypto Chaos

A Massive Bitcoin Flash Crash Just Created $1 Billion Of Crypto Chaos


Bitcoin, after surging higher this week, has suffered a flash crash, losing around $1,500 from its price in matter of minutes.

The bitcoin price broke $12,000 per bitcoin on the Luxembourg-based Bitstamp exchange early Sunday morning only to plummet 12% to $10,500 within the hour.

The bitcoin price has now bounced back, somewhat pulling the wider cryptocurrency market with it, to trade at around $11,300—but not before more than $1 billion of bitcoin and crypto positions were liquidated across various exchanges.

MORE FROM FORBESAs The Bitcoin Price Soars, Bitcoin's 'Real' Crypto Market Dominance ...


Read the full text forbes