Bitcoin Miners Foresaw Current BTC Plunge, Analyst Says - Here's What Happened

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Bitcoin Miners Foresaw Current BTC Plunge, Analyst Says - Here's What Happened
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BitcoinMiners dumped 3,835 $BTC within a week before the current plunge – did they expect a price drop? ali_charts

Bitcoin plummets 6% in one hour, here's reason

On March 2, Bitcoin took a deep nosedive, dropping approximately 6% in merely an hour and falling from $23,426 to the $22,273 price mark. This is a two-week low for BTC.The reason behind this massive price fall for not only Bitcoin but also Ethereum and the whole crypto market was the negative situation with crypto-friendly bank Silvergate.on Thursday. This was caused by Silvergate delaying the submission of its annual report, claiming that it needs revising with auditors before filing it.

Several crypto giants, including Coinbase, Bitstamp and Circle, have cut down their collaboration with Silvergate. Coinbase tweeted that it stops accepting payments from Silvergate.

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