Document Analysis NLP IA
FREQ, RAKE or TFIDF
Summary (IA Generated)
The price of Bitcoin (BTC) and Ethereum’s Ether (hereum-price-index” data-amp=”https://cointelegraph-com.cdn.ampproject.org/c/s/cointelegraph.com/ethereum-price-index” rel=”noopener noreferrer”>ETH) plunged by 13% and 21%, respectively, within minutes on Aug.
The move liquidated more than $1 billion worth of futures contracts as BTC/USD dropped from around $12,000 to as low as $10,550.
First, the volume in the cryptocurrency market tends to drop during weekends.
As hundreds of millions of dollars worth of long contracts began to get liquidated, Bitcoin and Ether dropped rapidly.
Similarly, right before the halving on May 11, the price of Bitcoin dropped to $8,100 resulting in mass liquidations.