Tsunami hits Bitcoin, drops $2,000

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The world’s flagship crypto, Bitcoin, lost over $2,000 some minutes ago after reaching as high as $34,500 amid record selling pressure prevailing at the world’s flagship crypto market.

At the time of writing, Bitcoin traded at $32,523.75 on Bitstamp with a daily trading volume of $81.9 Billion. Bitcoin is down 0.70% for the day.

READ: Short term buyers beware! Bitcoin drops $3000 in a few mins

It’s key to note today marks the flagship crypto birthday, as it was this date on which Bitcoin over a decade ago officially came into existence in the practical sense and was mined for the very first time.

READ: 78% of Bitcoins in circulation not for sale

In an interview with BBC World News today, Galaxy Digital founder and CEO Mike Novogratz gave key notes on why bitcoin is relatively having a bullish run
Now we’re seeing places like PayPal — at 340 million customers — servicing Bitcoin and selling Bitcoin [along with] big insurance companies in the United States,” said Novogratz. “As the institutions move in, there just is not a lot of supply […] There are a lot more than 21 million millionaires out there.”

READ: Ethereum market value of $83.8 billion is now bigger than Nigerian Stock Exchange