Fund Manager Warns Bitcoin (BTC) and Ethereum (ETH) Could Crash Like in 2021, But RCO Finance (RCOF) Could Save You

The cryptocurrency market has become extremely volatile, especially after the recent massive Bitcoin (BTC) transfers by Mt. Gox, the US government

Bitcoin (BTC) price has dropped significantly over the past week, falling below a crucial support level and prompting concerns among analysts.

As BTC price continues to tumble, crypto traders have faced substantial losses, reaching over $675 million within 24 hours. Long traders have been hit particularly hard by these market downturns.

Bitcoin price falls below $60K as Mt. Gox begins $2.7B repayment to creditorsBitcoin (BTC) price dropped sharply on March 21 as the world’s oldest cryptocurrency fell below a critical support level.

As reported by Cointelegraph, Mt. Gox trustee Nobuaki Kobayashi began repaying creditors on March 18, distributing BTC and BCH (Bitcoin Cash) holdings.

According to data from Coinglass, crypto traders lost more than $675 million in the past 24 hours as Bitcoin price fell below $60,000. Long traders faced the majority of these losses.

Bitcoin price reached a low of $57,914 after news of the Mt. Gox repayment emerged, marking a 3.3% decrease from the previous day.

After rallying to highs of $64,000 on March 14, BTC price failed to hold the key support level at $60,000.

Now, as Bitcoin price continues to fall, traders who opened long positions are facing the brunt of the losses.

Crypto market liquidations hit $700 million as Bitcoin price drops to $58,000March 19 saw a noticeable drop in Bitcoin (BTC) price, falling below the crucial support level of $60,000.

As BTC price continued to slide, crypto traders faced substantial losses, reaching over $700 million within 24 hours. Long traders were impacted the most by these market downturns.

Bitcoin price reached a low of $58,163 after news of Mt. Gox’s $2.7 billion repayment emerged, marking a 2.6% decrease from the previous day.

After rallying to highs of $64,000 on March 14, BTC price failed to maintain this level, leading to a drop of about $6,000.

Now, as Bitcoin price continues to fall, traders who opened long positions are facing the brunt of the losses.

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