What causes sudden upward/downward price spikes? - page 2.

Cryptopher

legendary

Activity: 1789

Merit: 1008

Keep it dense, yeah?

Usually some news that is posted on Reddit, in some cases the change comes just before the news becomes available.

Least that is when the biggest swings come in.

Wipro

hero member

Activity: 924

Merit: 512

Quote from: Koinci on November 09, 2017, 02:36:55 PM

Hi,

I am relatively new to Bitcoin trading and there is something I would like to ask the opinion of experienced traders about.

I keep watching a few exchanges during the day and sometimes I notice a sudden upward or downward price spike. For example, let's say the BTC price is fluctuating mildly around 7340 in the range of 7330 - 7350, and all of a sudden, the price instantly jumps up to 7480, and then drops back to 7340 range pretty quickly. Same with downward spikes, for example the price instantly jumps down to 7210 and then goes back up quickly. This does not happen frequently but it grabbed my attention.

Any ideas what might be causing this behavior? A huge buy/sell order? Some manual manipulation on the exchange side?

Thanks.

Supply and demand is the main reason for the price bump and dump you see in the chart. If some failure in the uopdation will make you find the bitcoin price dropped.
If there is any adoption over blockchain technology in the sense you will find the better growth in the chart with in 2 days after that.

Koinci

member

Activity: 84

Merit: 10

No Bitcoin, no problem.

Hi,

Any ideas what might be causing this behavior? A huge buy/sell order? Some manual manipulation on the exchange side?

Thanks.

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