Bitcoin Price Abruptly Drops 4%, 12 Hours after Fresh 2019 High at $5,450 – Here’s Why

On April 10, the bitcoin price achieved a new 2019 high at $5,450 in major markets including the U.S., accompanied by an increase in demand for bitcoin from accredited investors. Consequently, the premium of the Bitcoin Investment Trust (GBTC), a regulated bitcoin investment vehicle overseen by Grayscale, a cryptocurrency investment company with $1.2 billion under management, surged to 10 percent. However, within minutes, the bitcoin price slipped from over $5,400 to $5,200 and in less than 12 h