Why Bitcoin, Ethereum, and Dogecoin Dropped and Popped Early Today

There was a flash crash in the cryptocurrency market at around 7:30 ET Wednesday morning that sent most major cryptocurrencies lower in a matter of minutes. While Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) all plunged, they recovered quickly.

As of 11:15 a.m. ET, Bitcoin was down just 1% in the last 24 hours at $48,036 but hit a low of $46,648 early this morning. Ethereum is down 1.7% in the last 24 hours at $3,806 but hit a low of $3,716. The second-largest cryptocurrency is down from $4,123 as recently as midday Monday.

Dogecoin has had the rockiest day, trading around $0.1775 until about 5:00 a.m. and then dropping to $0.1695, a 4.5% drop, in around 2 hours. Values have recovered slightly, but Dogecoin is still down 1.6% over the last day.

Source Fool.com