Bitcoin plunges as exchange hacked – weekly crypto overview with David Jones


During May, weekly BTC volatility dropped to less than 3% – the lowest since May last year. However, due to the South Korean exchange Coinrail hack, volatility for cryptocurrencies has woken up.

Bitcoin plunged from $7,500 to around $6,600. The area from $5,900 to $6,500 is a very big support. If the lower level is broken, then we can expect a further fall.

Ethereum was hit hard as well. Watch the previous level of support at around $500.

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