Bitcoin volatility is back to levels not seen since early November, thanks to a sudden tumble toward the end of the U.S. day.<\/p>\n
Historical swings over the past 10 days on the Bitcoin-U.S. dollar pair surged to 65% on Wednesday, the highest level since Nov. 6, according to data compiled by Bloomberg.<\/p>\n
Bitcoin plunged in that session, going from being little-changed at $10,168 around 5 a.m. Hong Kong time to a drop of more than 8% to $9,327 about 45 minutes later. It recovered somewhat after that, and traded at $9,572 as of 10:50 a.m.<\/p>\n
\u201cIt could be a technical move with highly leveraged derivatives positions getting called,\u201d said Emmanuel Goh, who runs crypto-derivatives tracker Skew.<\/p>\n
He noted that some long perpetual swap positions got liquidated on Bitmex around the time of the drop.<\/p>\n
Cryptocurrencies are known for their volatility, and the largest of them has continued to live up to that reputation.<\/p>\n
Bitcoin is still up more than 30% to start 2020, which some market players attribute to a search by investors for alternative asset classes amid concerns about the coronavirus outbreak.<\/p>\n
Bitcoin volatility is back to levels not seen since early November, thanks to a sudden tumble toward the end of the U.S. day.<\/p>\n","protected":false},"author":341034,"featured_media":252401,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44696],"tags":[187],"class_list":["post-339535","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/339535"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=339535"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/339535\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/252401"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=339535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=339535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=339535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}