Crypto Crash Sees Mass Liquidations, Sends Shockwaves Through Market

Bitcoin and general market shifts have some running for the hills as others urge calm.

By
Dardania Havolli
on
December 5, 2021
Category:
Blockchain News

Crypto Crash as Market Reacts

By now, you’ve likely seen and experienced the recent crash. Huge volatility ensued as Bitcoin plunged and took the market with it. While panic was commonplace, old heads tried to relay calm despite the significant movement. 

In a period of 30 minutes, Bitcoin saw a price shift of $52,000 to $42,000, according to CoinGecko, causing a cascade of liquidations. Intriguingly,  in just over 60 minutes, $1,390,000,000 was liquidated, according to data revealed by Coinglass

Reactions were varied and broad, but there was a sense of not getting carried away as crypto veterans underlined that the pullback is no harsher than previous dips we have experienced throughout Bitcoin’s journey. 

Source: Reddit

The movement saw the most significant singular shift in the market since March 11th, 2020, which saw the culmination of uncertainty brought about by COVID and liquidated more than had been thought possible. 

However, this time around, there appears to be much more confidence in terms of the next steps users should take. The most popular memes doing the rounds this time did not focus on the end of crypto and indeed the world, instead they focused on buying the dip.

Source

Although quite funny, the meme indicates the general attitude in the market and where the impetus appears to be for many investors. The general market attitude seems to be thinking how best they can capitalize on the dip instead of clawing out all they have left. 

Of course, if there’s anything that we can rely on, it’s the unpredictable short-term shifts we may experience, and here at BSC News, we’ll be on hand to cover each move as it develops. Regardless of these moves, remember only to invest what you can afford to lose, unlike the dude above!

Don’t forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for Binance Smart Chain and crypto! Check out the DeFi Direct Linktree for all the access links!

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Dardania Havolli

Dardania is an experienced researcher, editor and writer who is currently completing his PhD in Creative Writing. He is passionate about blockchain technology and the impact it will go on to have on our lives. He holds bags mostly in BNB, SOL and IOTX.

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