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posted by martyb on Wednesday April 03 2019, @02:33AM   Printer-friendly
from the sounds-a-bit-expensive dept.

Bitcoin jumps 20 percent, mystery order seen as catalyst

Bitcoin soared to its highest in almost five months on Tuesday, pulling smaller cryptocurrencies up with it, after a major order by an anonymous buyer set off a frenzy of computer-driven trading, analysts said.

The original cryptocurrency soared as much as 20 percent in Asian trading, breaking $5,000 for the first time since mid-November. By mid-afternoon, it had settled around $4,800, still up 16 percent in its biggest one-day gain since April last year.

[...] Today's gain was probably triggered by an order worth about $100 million spread across U.S.-based exchanges Coinbase and Kraken and Luxembourg's Bitstamp, said Oliver von Landsberg-Sadie, chief executive of cryptocurrency firm BCB Group.

"There has been a single order that has been algorithmically-managed across these three venues, of around 20,000 BTC," he said. "If you look at the volumes on each of those three exchanges – there were in-concert, synchronized, units of volume of around 7,000 BTC in an hour".

See also: Bitcoin (BTC) Prices Explode after Fool's Day with "Zero" Fundamentals


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  • (Score: 2, Interesting) by Anonymous Coward on Wednesday April 03 2019, @03:02AM (13 children)

    by Anonymous Coward on Wednesday April 03 2019, @03:02AM (#823934)

    Stocks going up too: https://www.tradingview.com/chart/?symbol=CME%3ASP1! [tradingview.com]

    It's the dollar losing value.

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  • (Score: 0) by Anonymous Coward on Wednesday April 03 2019, @03:28AM (4 children)

    by Anonymous Coward on Wednesday April 03 2019, @03:28AM (#823947)

    unregulated market being manipulated... Enjoy your profit and get out now. Or not. Not my problem.

    • (Score: 1) by khallow on Wednesday April 03 2019, @03:32AM (1 child)

      by khallow (3766) Subscriber Badge on Wednesday April 03 2019, @03:32AM (#823950) Journal
      Overconsumption of popcorn may be our collective problem.
      • (Score: 2) by Freeman on Wednesday April 03 2019, @02:30PM

        by Freeman (732) on Wednesday April 03 2019, @02:30PM (#824087) Journal

        The missed opportunity. Investing in Popcorn Futures.

        --
        Joshua 1:9 "Be strong and of a good courage; be not afraid, neither be thou dismayed: for the Lord thy God is with thee"
    • (Score: 0) by Anonymous Coward on Wednesday April 03 2019, @08:02AM

      by Anonymous Coward on Wednesday April 03 2019, @08:02AM (#824009)

      Get ready for the biggest head and shoulders the world has ever seen.

    • (Score: 0) by Anonymous Coward on Wednesday April 03 2019, @05:10PM

      by Anonymous Coward on Wednesday April 03 2019, @05:10PM (#824146)

      fuck you and your regulation, you statist slave.

  • (Score: 0) by Anonymous Coward on Wednesday April 03 2019, @03:30AM (4 children)

    by Anonymous Coward on Wednesday April 03 2019, @03:30AM (#823949)

    Just wait for it... Something smells fishy. There will probably be a huge selloff soon. I bought hundreds of tech penny stocks around 1990 and they shot up to $15 per share right before the stock market meltdown.

    • (Score: 0) by Anonymous Coward on Wednesday April 03 2019, @08:05AM (3 children)

      by Anonymous Coward on Wednesday April 03 2019, @08:05AM (#824010)

      BTC at 20k in one year? https://www.investopedia.com/terms/c/cupandhandle.asp [investopedia.com]

      • (Score: 1) by khallow on Wednesday April 03 2019, @01:21PM (2 children)

        by khallow (3766) Subscriber Badge on Wednesday April 03 2019, @01:21PM (#824059) Journal
        Why think small? Add a few zeros and shoot the Moon. It'll be 18 quintillion by Xmas. Bitcoin holders will be buying and selling planets. Heard it here first!
        • (Score: 0) by Anonymous Coward on Wednesday April 03 2019, @02:48PM

          by Anonymous Coward on Wednesday April 03 2019, @02:48PM (#824097)

          That isn't small. That is what needs to happen to form the cup and handle pattern. It has to take about as long to get back as it did to bottom.

        • (Score: 2) by aristarchus on Wednesday April 03 2019, @06:44PM

          by aristarchus (2645) on Wednesday April 03 2019, @06:44PM (#824194) Journal

          No! Don't buy now! You will only drive up the price! Instead, wait for the unveiling of "TulipCoin", the bestest blockchain currrency ever, especially the "Semper Augustus" [atlasobscura.com] edition! Get in early, and avoid the crash! Or was that "cause the crash"?

  • (Score: 2) by isostatic on Wednesday April 03 2019, @09:44AM (1 child)

    by isostatic (365) on Wednesday April 03 2019, @09:44AM (#824017) Journal

    I see no real change in the dollar compared to other currencies

    • (Score: 2, Informative) by Anonymous Coward on Wednesday April 03 2019, @09:56AM

      by Anonymous Coward on Wednesday April 03 2019, @09:56AM (#824019)

      All the central banks take their orders from the BIS, so comparing different currencies isn't really where to look. They are all losing value.

  • (Score: 2) by istartedi on Wednesday April 03 2019, @09:03PM

    by istartedi (123) on Wednesday April 03 2019, @09:03PM (#824240) Journal

    No it isn't, certainly not as fast as BTC has risen. Measuring the value of any currency is always tricky because it's relative. You have to pick a stationary value against which to measure. The pick is somewhat arbitrary, but plenty of people have put some serious thought into it and a basket of other currencies and goods [stlouisfed.org] is about as rational a choice as you'll get. The linked graph shows no major change in the USD's value over the time during which BTC has been rising. Anecdotally, gas at the pump is actually less than it was a few years ago. Many consumer goods are cheaper, and if the USD was dramatically falling against world currencies, we'd be seeing classic signs that pre-date BTC by many decades. We aren't seeing those signs. The rise in BTC has earmarks of speculative moves that are isolated to BTC, and not involving the USD or other major world currencies.

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