How many bitcoin flash crashes in 2021?

Over the course of 2021, bitcoin's price experienced no less than six flash crashes. A cryptocurrency “flash crash” is a market event in which many holders of a particular crypto asset suddenly decide to sell, overwhelming buyers and forcing the price to fall sharply within a very short time period.

What happened to the crypto market in 2021?

The crypto markets are in turmoil, losing $600 billion dollars in a week. Bitcoin slumped below $30,000 for the first time since July 2021, which is less than half its November 2021 peak. TerraUSD and Terra have suffered the most, trading under $1 now. The crypto market has been moving in sync with the stock market for the past few months.

Did a crypto crash wipe out $1 trillion in market value?

On Wednesday, a broad crypto crash wiped out about $1 trillion in market value — a staggering drop from $2.5 trillion just a week ago. Bitcoin, which accounts for more than 40% of the global crypto market, nosedived 30% to $30,000 on Wednesday, its lowest point since January.

How serious is a crypto crash?

Financial markets fluctuate and cryptos are often very volatile, however, a crash, which is a rapid and unexpected price drop, is much more serious. This happened to cryptocurrencies in both 2018 and 2021, where a crash in the crypto market resulted in the loss of trillions of dollars.