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A huge Bitcoin Flash crash has just created $ 1 billion in encrypted chaos



Bitcoin, after rising higher this week, suffered a sudden slump, losing around $ 1,500 from its price in minutes.

The bitcoin price broke $ 12,000 per bitcoin on the Luxembourg-based Bitstamp exchange early Sunday morning only to plummet 12% to $ 10,500 within an hour.

The price of bitcoin has now gone back, somehow pushing the wider cryptocurrency market with it, to trade at around $ 11,300, but not before more than $ 1 billion of bitcoin and cryptocurrency positions were liquidated through various exchanges.

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