Bitcoin's Price Flash Crashes $1,500 in 24 hours, Is $7,500 next?

Tuesday Sept. 24 - Bitcoin's price is retracing rapidly from over $9,800 to $8,150 in less than a day and for the first time in months.

The Bitcoin price flash crashed hard, dropping close to $800 in just a few minutes to show double-digit losses, down 11.4% while currently trading at $8,150 as of press time.

According to data from Coin360, Bitcoin investors are experiencing a painful Tuesday, with BTC/USD hovering close to $8,100 at press time.

Bitcoin's rapid drop below $9,800 was the latest move in what was otherwise a slow grind downwards, which began at the beginning of September.

Cointelegraph contributor Crypto Michaël recently said that the next Bitcoin price zone to watch lay immediately below the $9,800 trading levels.

"Break that and investors could look forward to a test of $7,500 support."

Bitcoin seems to be stabilizing itself around the $8,150 price mark, as of press time.

The overall cryptocurrency market cap stands at $222 billion at press time, having lost a whopping 20 billion in less than an hour.

Bitcoin's share sits at 69.2%.Keep track of top crypto markets in real time here.