Bitcoin’s Fast Crash to $22.2K and What’s Next: Market Watch Author: George Geor Bitcoin’s price crashed almost instantly to $22.2K, while the rest of the market also took a beating over the past 24 hours. Bitcoin’s price plunged toward $22K earlier today, and the entire market followed. Billions were wiped off the total capitalization as all the major cryptocurrencies are currently trading in the red. The move follows turmoil at Silvergate Bank – a financial institution that was heavily focused on servicing major crypto companies. Bitcoin’s Price Crashes Toward $22K As CryptoPotato reported earlier, the price crashed to about $22.2K on Binance but has since slightly recovered to where it currently trades. Many seem to believe that the reason for the crash is the turmoil that was revealed at Silvergate Bank.