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Crypto

Bitcoin Price Crashes by Over 1,100 in Minutes Amid Hash Rate Drop

Guavy AI Editorial Team
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The price of Bitcoin plummeted recently, dropping from around $9,400 to $8,300 in just minutes, affecting other major cryptocurrencies like Ethereum and Ripple.

This sudden decline has raised concerns among investors and experts, with some speculating that the failure of Bakkt to drive up the Bitcoin price may have contributed to the downturn.

Additionally, the sudden drop in Bitcoin's hash rate by 40% from yesterday has sparked further worries about network security. The hash rate had reached an all-time high of over 100 EH/s on September 18 but dropped to around 57.7 EH/s before recovering to 67 EH/s.

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