Crypto News Today: Bitcoin Price Dropped $11,500!

Watch the video:

Early in the morning of 2/22/2021, the price of Bitcoin dropped from $58,500 to below $47,000. This brief video will look at the sudden price drop and the actions we took with our eToro copy trader account.

Transcript of the Video:

Hello and welcome. I hope that you are having a fantastic day today. But I’m sad to say Bitcoin is not. Bitcoin has had a really hard day. It lost $11,500 in price, just like that. Alright, so it took a little bit longer than the snap of fingers. But it happened this morning early on. Today is February 22, 2021. Let’s get into it. This is my little disclaimer, and I’m not a financial advisor. This is not financial advice. This is my opinion. And this paragraph is useful if you’re going to invest in cryptocurrency or any other kind of investment. Now it sounds like some legal mumbo jumbo, but it is there for your protection. More than anything, we want you to make money and not lose money. And if you heed the advice in this paragraph, it will help you make money and not lose money. Always Always. And this is not financial advice. But never risk money that will adversely impact your lifestyle. So this is our website, I hope you’ll come and visit it sometime soon. So let’s get into the news. Bitcoin drops defy loans liquidated, and FTS sell Bitcoin tumbled below $50,000. Now we had had an amazing run up to that point over the weekend, we hit a new high of around $58,500. It was spectacular. But we had a significant dip this morning. If you take a look at the chart, see this red bar, it drops down behind this little guy. It was over 11% drop in this one candle. And you can see that it had been this one candle represents one hour. But you can see that it had been dropping for several hours over the weekend from that previous high of around $58,000. On down to $47,617. So an absolutely huge drop. If you’re one of our eToro Coffee traders, I wanted to let you know what happened and why we changed the portfolio this morning. I decided because of this dramatic drop. Our algorithm only runs once a day. The trading program runs once a day. So it’s not set up to respond to these kinds of very sudden, very short, and quick drops in price, I decided to go ahead and pull some liquidate some of our holdings. Because we want to watch what’s going to happen over the next couple of days, this kind of event can trigger additional drops over the next few days, and it might go back up. We’re just going to kind of cool our jets a little bit, watch what happens, and find a good place to get back into the market. Now I didn’t completely liquidate the eToro portfolio. We only liquidated part of it. So anyway, we did enough to pull out some profits. And so we wanted to take profits and not risk any more losses than necessary. So how can I be of service to you? Do you have any questions? Do you have any thoughts? Do you have any comments? Do you disagree with anything that I’ve said or done? Let us know in the comments section on the YouTube channel or on the eToro platform. In the meantime, I hope that you’ll like subscribe and HODL and hey, do me a favor and have a fantastic day.

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