It did look like it was going to be a "Massive" sell off at the time of writing this. Only because it happened so rapidly and was across the 4 exchanges I was watching.
When you consider the tech behind Bitcoin, it isn't that great compared to other crypto's. I'm assuming bitcoin's high price stems from it being the oldest and most well known crypto, with a heap of "get rich quick" stories behind it.
Also it is used as a trading pair on pretty much every exchange and a lot of the time people need BTC in order to trade anything else.
But feel free to correct me if I'm missing something here.
It did look like it was going to be a "Massive" sell off at the time of writing this. Only because it happened so rapidly and was across the 4 exchanges I was watching.
When you consider the tech behind Bitcoin, it isn't that great compared to other crypto's. I'm assuming bitcoin's high price stems from it being the oldest and most well known crypto, with a heap of "get rich quick" stories behind it.
Also it is used as a trading pair on pretty much every exchange and a lot of the time people need BTC in order to trade anything else.
But feel free to correct me if I'm missing something here.