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Bitcoin Surges 20% Following Anonymous Order

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

takyon writes:

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: 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.