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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 opinionated_science on Wednesday April 03 2019, @01:53PM
of course a *really* big buyer, could pump the market with an order - and now sell at the inflated rate.
Of course, since bitcoin can be tracked, I am curious as to whether the origins will be found...