Seeking Alpha
2020-08-02 23:32:06

Wild weekend in crypto sees Bitcoin push through $12K and then crash; gold makes push for $2K

Bitcoin (BTC-USD) hit nearly a one-year high of $12.1K early Sunday and then shortly after "flash crashed" all the way down to $10.7K in the space of a few minutes. At current pixel time, Bitcoin is changing hands at $11.1K.The sudden price drop forced liquidation of nearly $1.4B worth of positions across major exchanges, reports Coindesk.Also caught up in the flash crash was red-hot Ethereum (ETH-USD), which plunged more than 20%.In Sunday evening precious metals action, gold (XAUUSD:CUR) is again making a push for $2K, earlier climbing as high as $1,994, before pulling back to the current $1,988, up 0.7% on the session. Silver (XAGUSD:CUR) is ahead 2% to $24.70.

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