Bitcoin’s flash crash comes amid brutal sell-off in global markets

Bitcoin's flash crash comes amid brutal sell-off in global markets. Photo: AP

The flash crash has not deterred institutional investors. Photo: AP

Major cryptocurrencies were down on Wednesday morning as a flash crash in the price of bitcoin earlier this week wiped out over $200bn from the market.

Bitcoin (BTC-USD) was down 1.7% to trade at $42,223 (£30,913) at the time of writing and is trading at levels not seen since August, while ethereum (ETH-USD) fell 8.3% and was trading at $2,920.

“Over the last few days, bitcoin has been on a downward spiral after sentiment…


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