In the early morning of May 19, 2021, the crypto market suddenly crashed in minutes. Prices dropped drastically, with Bitcoin falling from around $40,000 to $30,000 in a matter of minutes. Ethereum also experienced a sudden drop from around $2,700 to $1,900 in a matter of minutes.
So why did this happen? According to analysts, the sudden crash was the result of a large sell order on the Coinbase Pro exchange. A single trader sold a large amount of Bitcoin, which caused a chain reaction and resulted in a massive sell-off. This sudden crash caused panic among investors, and many rushed to sell their assets as prices started to plummet.
Fortunately, the markets have since recovered and prices have stabilized. But this sudden crash serves as an important reminder that the crypto market is still highly volatile, and investors should always be aware of the risks when trading in these markets.
