Bitcoin rose $ 300 in just a minute. Who is to blame for the manipulation of price?
Source:Today, the Bitcoin price jumped $ 300 in just one minute. It is noteworthy that the sharp rise coincided with a temporary drop in the largest crypto currency exchange BitMEX. The manipulation of the price of the crypts have tried to understand .
theThe rapid growth of Bitcoin
In the price chart cryptocurrency is clearly seen that large green candle coincided with the shutdown of BitMEX for routine maintenance. A temporary drop in the exchange lasted from 01:00 to 02:00 UTC. In the last hour spiked up to $ 6850, and then corrected to $ 6680.
In the official account of BitMEX on Twitter appeared information that the team exchanges have experienced problems entering the site and trading platform was subjected to a DDoS attack.
Login has stabilized. We encountered a large DDoS upon restarting web services. We will resume trading at 02:00 UTC (in 7 minutes).
— BitMEX (@BitMEXdotcom)
Earlier this month, the performance of futures contracts on the Chinese stock exchange OKEx caused alarm after the user exchanger reported the manipulation just before the date of closing. Forced liquidation of contracts worth about 416 million dollars coincided with the loss Bitcoin $ 500 of cost in a few hours.
The Suspicious circumstances already discussed on Twitter. An entrepreneur and an early Bitcoin investor Alistair Milne suggested that disabling BitMEX was done on purpose to eliminate a huge number of short positions on Bitcoin.
Massive Bitcoin short squeeze to coincide with BitMex downtime tomorrow?
Stranger things have happened …— Alistair Milne (@alistairmilne)
Economist Alex Krueger noted that today's incident reduces the chances of approval of the ETF to zero.
A Sharp jump in Bitcoin seven percent proves once again that the probability of approval of the ETF for the cryptocurrency tends to zero. Even if there are no manipulations (which is doubtful), recent events have proven the importance of BitMEX. The fall of the exchange with 40 percent daily turnover of the asset will lead to destabilization of the market.
There is good news. Sudden rise knocked the cryptocurrency from the channel it's been trading for a week. For seven days, the Bitcoin price went in the range from 6100 to 6450 dollars.
We Remind that the most significant price movement this summer on a short-term rally in mid-July. Then Bitcoin has increased above $ 8,000, but did hold several key support levels.
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