Bitcoin’s Price Flash Crashes $1,500 in 24 hours, Is $7,500 next?

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Tuesday Sept. 24 — Bitcoin’s price is retracing rapidly from over $9,800 to $8,150 in less than a day and for the first time in months.

Bitcoin 24 hour price chart. Source: Coin360

Bitcoin 24 hour price chart. Source: Coin360

The Bitcoin price flash crashed hard, dropping close to $800 in just a few minutes to show double-digit losses, down 11.4% while currently trading at $8,150 as of press time. 

According to data from Coin360, Bitcoin investors are experiencing a painful Tuesday, with BTC/USD hovering close to $8,100 at press time. Bitcoin’s rapid drop below $9,800 was the latest move in what was otherwise a slow grind downwards, which began at the beginning of September. 

Cointelegraph contributor Crypto Michaël recently said that the next Bitcoin price zone to watch lay immediately below the $9,800 trading levels. He added:

“Break that and investors could look forward to a test of $7,500 support.”

Bitcoin seems to be stabilizing itself around the $8,150 price mark, as of press time.

The overall cryptocurrency market cap stands at $222 billion at press time, having lost a whopping 20 billion in less than an hour. Bitcoin’s share sits at 69.2%.

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