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Some believe that the market dip was caused by one tweet from a Twitter account called “FXHedge”
A few minutes after this tweet, the maker began to lose billions, plummeting the value of Bitcoin from about $62000 to $53000.
While this may not be the only reason for the huge dip, this tells us that this market is highly volatile. The tiniest tweet could plummet the market by a few millions!
Altcoins, following BTC steps also took a big dip, some ever harsher than Bitcoin plummeting -30% for some.
The market is likely to recover during the next few days, but it could also drop even lower as some investors already lost a few millions.
