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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
(Score: 2) by julian on Wednesday April 03 2019, @04:35AM (7 children)
I bought 0.5 BTC for about $350.00 USD and now it's worth more than $2000. It has done pretty well, and it wasn't a lot of money for me. I have no idea what will happen to it in 5 or 10 years. I am not one of the libertarian BTC backers who are dogmatically against fiat currency and The Government. It could be a robust currency that coexists alongside the dollar for different uses. Right now, it's a curiosity that has netted me a small profit. I expect it will be that for some time, and then fizzle out. The real fortunes have already been made, I think. If it ever is worth enough to buy a new Tesla, I will cash out
(Score: 5, Insightful) by Anonymous Coward on Wednesday April 03 2019, @07:37AM
No profit until you cash out. Remember that.
(Score: 2) by All Your Lawn Are Belong To Us on Wednesday April 03 2019, @02:26PM (4 children)
I bought some BTC and BCH right around the peak in December, 2017. I didn't but it for investing, but to give away as cheap and novel Christmas gifts, which worked nicely after I got burned by BTC transaction fees on my first go. It left me with a tiny bit spare (under $20) and just let it sit on my trading wallet - I don't care about getting hacked, really, as it isn't an investment, or I'd shift it to a paper wallet as I did the Christmas gifts. I look at it for fun sometimes. It is as of this moment, even after this "amazing" spike, currently worth 15% of what I paid for it originally.
But I also have some Confederate money that my financial adviser assures me will come back and be a good investment after the South rises again.
This sig for rent.
(Score: 2) by Freeman on Wednesday April 03 2019, @02:34PM (3 children)
I tried getting in on Etherium, but noted that my internet connection sucked so bad that I couldn't even sync the chain the first time. Let alone start mining. Some fun play toys are reserved for those that can / want / do live in town.
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, @03:21PM
You shouldn't need to wait for a full chain sync unless you're mining it. You can use an API endpoint to get up to date information instantly, or if you really feel the need to sync the fast sync methods work extremely well and even on a crappy connection you can sync a full blockchain in a couple hours max.
(Score: 0) by Anonymous Coward on Wednesday April 03 2019, @03:39PM
Next Etherium is full gaming on the blockchain, eg: https://soccermanagerelite.com/ [soccermanagerelite.com]
(Score: 2) by All Your Lawn Are Belong To Us on Wednesday April 03 2019, @09:46PM
I read that large operations like to center themselves in remote areas with lower power costs, but ensuring high speed bandwidth is also a prerequisite.
This sig for rent.
(Score: -1, Troll) by Anonymous Coward on Wednesday April 03 2019, @05:31PM
this from the guy who trusts the government to steal more money and hand out a "no strings attached" allowance to people. yeah, ok. the people who steal, lie and kill for a living are going to be directly responsible for feeding you like a mother bird. lmao.