Topic: [2017-11-29] Bitcoin Price Flash Crashes to $10,075 as Market Goes Berserk (Read 982 times)
November 30, 2017, 01:56:01 AM
This is nothing surprising at all and part and parcel of what Bitcoin is. Anybody familiar with the history of Bitcoin can tell us that crashes in the past had been more dramatic even going down as low as 30% or even more within days. This is just one of the most dramatic facets of Bitcoin and am sure those who are already in Bitcoin for years will just take it easy. Bitcoin can 'crash' and Bitcoin can get back on its feet and make big surges again and again. I would venture to say that this is not news anymore...it would be uncharacteristic for Bitcoin if a crash will never transpired after getting into an ATH level. A 'crash' can even be a big opportunity many have been waiting for so they can buy Bitcoin cheaper...and this in turn pushes back Bitcoin to a better position.
November 30, 2017, 01:27:33 AM
The bitcoin price plunged by more than $1,300 in minutes during a flash crash on bitcoin exchange Bitfinex but has since recovered above $10,800.
Bitcoin Price Flash Crashes to $10,075
At approximately 10:09 ET, the bitcoin jumped to a one-hour high of $11,399, which placed it just below the all-time high of $11,441 it had set at 9:13. Apparently — after observing resistance at $11,500 — a whale had set $11,400 as his or her target exit vector because at 10:11, the candle turned red, and three minutes later, this trader unleashed a massive market sell order.
This sell order caused the bitcoin price careen down to $10,075, representing a decline of $1,324 — or 12 percent of bitcoin’s total value — in just four minutes. For reference, the bitcoin price did not even reach $1,324 until May 1 of this year.
Following the flash crash, the bitcoin price quickly rebounded above $10,900, but it was unable to crack the $11,000 mark and quickly fell into decline. At 10:40, the bitcoin price reached a bottom at $10,262, at which point it began to recover. By the time of writing, the bitcoin price was once again trading near $11,000 on Bitfinex.
https://www.cryptocoinsnews.com/bitcoin-price-flash-crashes-10075-market-goes-berserk/
Bitcoin Price Flash Crashes to $10,075
At approximately 10:09 ET, the bitcoin jumped to a one-hour high of $11,399, which placed it just below the all-time high of $11,441 it had set at 9:13. Apparently — after observing resistance at $11,500 — a whale had set $11,400 as his or her target exit vector because at 10:11, the candle turned red, and three minutes later, this trader unleashed a massive market sell order.
This sell order caused the bitcoin price careen down to $10,075, representing a decline of $1,324 — or 12 percent of bitcoin’s total value — in just four minutes. For reference, the bitcoin price did not even reach $1,324 until May 1 of this year.
Following the flash crash, the bitcoin price quickly rebounded above $10,900, but it was unable to crack the $11,000 mark and quickly fell into decline. At 10:40, the bitcoin price reached a bottom at $10,262, at which point it began to recover. By the time of writing, the bitcoin price was once again trading near $11,000 on Bitfinex.
https://www.cryptocoinsnews.com/bitcoin-price-flash-crashes-10075-market-goes-berserk/
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