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George Ma
in
Crypto
May 11 08:52

Bitcoin collapsed below $9,000 in the run-up to halving

At the time of writing, the BTC is trading around $8600.
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The price of BTC suddenly fell below $9000, breaking the upward trend. At the time of writing, the BTC is trading around $8600.
In just 30 minutes, the BTC price went down by 10%. Due to the current situation Coinbase stock exchange went offline for a short time. According to Rek.to service, the volume of liquidations on the popular cryptoexchange BitMEX amid the price collapse almost reached $300 million.

A sharp drop in the BTC price occurred in anticipation of the halving award for the block, which is less than two days away. The total market capitalization is US$236 billion, while the BTC dominance index is 66.9%.
Opinions in the cryptocommunity about the impact of the upcoming halving are mixed. Thus, early Bitcoin Investor Charlie Shrem is sure that halving the reward for the block extracted by the miners is a positive signal for digital gold, the effect of which, however, will not be immediately apparent.
The experts of Santiment analytical platform, who recently predicted sales of large players amid the hype around the halving have a completely different opinion.