Bitcoin down 25% as the rout turns into an implosion. Ethereum down 40%
19 May 2021
It’s truly black Wednesday now
This move in crypto is breathtaking.
Bitcoin is now down $10,600 to $32,500. That’s a 25% one-day drop. Even by bitcoin’s historical standards, that’s enormous.
It’s even worse elsewhere with ethereum down more than 40% to 2094.
We’ve very quickly gotten near support at $30,000. Here’s the daily chart:
The entire year-to-date rally has been wiped out.