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You are here: Home / Bitcoin / Bitcoin Suddenly Drops by $500 After Passing $12K [Updated] – CoinDesk – CoinDesk

Bitcoin Suddenly Drops by $500 After Passing $12K [Updated] – CoinDesk – CoinDesk

08/11/2020 by admin

Update (12:12 UTC): Bitcoin fell by nearly $500 to $11,546 in the 10 minutes to 10:30 UTC, after failing to absorb selling pressure above the $12,000 mark during the early European trading hours. It’s the second rejection above $12,000 in eight days, and comes as the U.S. dollar shows signs of bottoming out.

Bitcoin is on the hunt for a new yearly high, having crossed above $12,000 early on Monday.

Disclosure

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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