On Monday 17 August Bitcoin price suddenly raises up to $12,200 as shown at Coin360. A subsequent correction managed to erase the gains and more, bouncing at $11,785 to recross the $12,000 mark — all within a matter of minutes.
At press time, Bitcoin circled $12,080, equating to 24-hour gains of 2.5% and the highest price for over a year.
Despite the psychological significance of $12,000, few appeared convinced that Monday’s move upwards was a legitimate watershed moment.
On BitMEX, the results of the few minutes’ volatility were plain to see — $22.1 million of shorts liquidated on Monday.