At long last, Bitcoin has bounced after Thursday’s brutal performance. Just recently, the price of the leading cryptocurrency hit $5,800 on Coinbase, rallying from the $3,850 low seen just minutes ago. This marks an 18% rally.
It isn’t clear why this has rallied so hard, though the surge in the price of the cryptocurrency coincided with a short outage in the service of BitMEX, which briefly crashed after a record day. It may also have been related to an investor longing Bitcoin.
Bitcoin just jumped $1,800, 40%, in three minutes on Coinbase.
What. The. Hell.
— Nick Chong (@_Nick_Chong) March 13, 2020
Regardless of what exactly happened, one thing is for certain: there will continue to be mass volatility in the cryptocurrency markets over the next few days as liquidity rapidly leaves the market.
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