Bitcoin Crash Liquidates $200m of BitMEX Longs – October 24

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$7,483

Bitcoin has taken a large tumble over the last day of trading, down 7% to settle in the mid $7,000 range.

Top-20 altcoins have also fallen a similar amount in dollar terms. XRP is down by 6%, while Ethereum is down 3%. Binance Coin has been the biggest loser, falling almost 8%.

Top Stories for October 24, 2019 🔥

👉 Bitcoin Crash Liquidates $200m of BitMEX Longs

Over USD$200 million worth of long positions have been liquidated on trading platform BitMEX, during yesterday’s price crash.

The value of liquidated positions was one of the largest of the year so far, as Bitcoin hit a new 5-month low.

👉 Ex-CFTC Chair Admits Trump Administration Popped 2017 Bitcoin Bubble

Ex-CFTC chairman Christopher Giancarlo has claimed that the Trump administration intently tried to deflate the Bitcoin bubble of 2017, via the launch of futures trading.

Officials believed Bitcoin growth was do to a lack of easy ways to short the asset, and that Bitcoin futures would provide that opportunity to more people.

👉 Goldbug Peter Schiff Changes Stance on Crypto

Peter Schiff, a gold investor who is renowned for his resistance towards cryptocurrencies, has made a tweet changing his stance.

His tweet has shown support for privately-issued cryptocurrencies backed by assets, saying that they would present “a major improvement over our current system of national fiat currencies”.