Bitcoin flash crash following mammoth sell order – May 17

📈 30 Second Price Summary

Current Bitcoin Price$7018

Over the last 24 hours, Bitcoin suffered a brief flash crash (covered below), which has left it down 10% on the daily chart. Everything else is in the red, too: Ethereum down 14%, XRP down 13%, Bitcoin Cash down 16%, EOS down 12%, and so on and so forth.

Top Stories for 17th May 2019 🔥

👉 Bitcoin flash crash following mammoth sell order

Bitcoin is known to be a pretty volatile asset, but just how much selling does it take to push the price down 20%?

The answer is around 3,645 Bitcoins. That’s exactly what happened earlier today: a single investor sold more than 3000 coins at market value, causing the price of Bitcoin to quickly crash by almost 20% on BitStamp. Shortly after, $250 million in Bitcoin longs were liquidated on BitMEX, solidifying the crash.

👉 Brave to raise $30+ million at $130 million valuation

Brave is the cryptocurrency browser which allows you to earn money by watching ads, and quickly and easily tip your favorite internet content creators. In 2017, the project raised more than $30 million in less than one minute.

Brave has declared its plans to raise a further $30 to $50 million at a valuation of around $133 million. It’s unclear what the capital will be used for.

👉 Acclaimed investor changes take on Bitcoin

Mark Mobius is an acclaimed investor and cofounder of Mobius Capital Partners. He’s best known for his work on investment in emerging markets.

Mobius, who previously called Bitcoin a “fraud”, seems to have changed his mind, and now reckons cryptocurrencies will be “alive and well” into the future.

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