18 Aug 2023

Why did crypto prices crash?

We examine why crypto prices took a tumble and explain why it's a familiar pattern.
this week in crypto august 11-18 SVG

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Bitcoin's downturn started on Wednesday - and gathered momentum on ThursdayAs noted in Tuesday's market report, Bitcoin continued its prolonged low-volatility trading range between $29,000 and $30,000. However, a noticeable shift began on Wednesday, followed by accelerated momentum on Thursday. The initial dip halted at around $28,500, but the story didn't end there. On Thursday, the price took a substantial plunge, touching a low of $25,200 before rebounding to its current level of $26,500.
bitcoin last 7 days price chart august 18
A breakout was not unexpected
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