Bitcoin was on a tear. Last night it took a sharp turn down.
It wasn't a market downturn but a flash crash.
Shortly before 11 Eastern Time, the price of Bitcoin crashed to $6,395. This was a 15% drop. It sprung an immediate liquidity crisis globally that quickly reversed course.
There was no news or other evident catalyst.
There were 5,000 Bitcoin to travel through Bitstamp during that time crashing the price to $6,178 on that exchange.
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