Bitcoin Drops Under $60,000, Ether Dives Below $4,000

Bitcoin Drops Under $60K

Created by TradeOr

3rd Party Analysis 27 Oct 2021

Key Takeaways:

    • The price of bitcoin dropped by more than $1k in minutes early on Wednesday
    • Ether’s price followed with a 5% dive to trade below $4,000

    What’s Today’s News in Crypto?

    The price of bitcoin endured a heavy selling wave early on Wednesday. In more detail, a flash crash erased about 5% from bitcoin’s price. As a result, the original cryptocurrency slid to levels below $60,000.

    While the cause of the quick drop is unclear, the price of the leading token has slipped about 12% from its all-time high reached a week ago. Back then, bitcoin surged to $67,000 powered by the launch of the first-ever Bitcoin ETF which debuted on Wall Street.

    In addition, Ether, the second-biggest token, also declined. The Ethereum network’s native coin lost about 5% earlier today and reached levels below $4,000.

    What’s the Price of Bitcoin?

    Presently, bitcoin is trading near $59,000 a coin. Crypto circles, however, remain confident that the upward trajectory for the orange coin remains intact. Not only that, but they are certain that crypto assets will continue to accelerate further on the adoption cycle. Analyst predictions, meanwhile, point to a sustained climb in the valuation of cryptocurrencies.

    On that note, many buyers are likely to use the drop to scoop up bitcoin under $60,000. Still, the price of bitcoin is up 100% since January. Ether, also presenting a discounted buying opportunity, is up about 420% since the start of the year.

    How to Buy Bitcoin or Ether?

    Against that backdrop, buying bitcoin or ether is now easer than ever. All you need to do is head over to our comprehensive cryptocurrency guide. There, you will learn all you need to know about making your crypto purchase.