Bitcoin Forum

Minute Chart:
https://i.imgur.com/aGLIlnS.png

Daily Chart:
https://i.imgur.com/Wld6Rkf.png

Some similarities to BTC-e
https://i.imgur.com/WxfnslZ.png

These price jumps or dumps are kinda strange. Did somebody really post those orders or is there something more to it?

I guess it was just one single small trade.

when that trade came up on BTC-e I imagined someone missing a 0 when he typed his order.

his face when he realised the mistake must have been priceless..

the same happened at BTCe with the 103$ mistyping earlier this year as I suppose

People will try to dismiss it as a glitch, but it looks hooky as fuck to me.

When Bitfinex went to $10K, real people got burned, the exchange promised to refund them, don't how well they got on with that, but real people got burned and their system really did act like Bitcoin was at $10K with regards to traders with certain positions.

When BTC-e.com went to $100 and Bitfinex went to $100, real people got burned. Real stop long stop losses were triggered and real leveraged positions were wiped out. Plenty people who had low bid orders never got their orders filled, but the price on those exchanges' computers really did go down to $100 for many.

Huobi to $10K serves as an alarm bell to me about both the soundness and honesty of that exchange.

Seriously? You can't just fathom that there was a glitch? Its got to be a grand conspiracy? Ok, whatever floats your boat.

When Bitfinex went to $10K, they admitted they had been hacked.

When BTC-e and Bitfinex went to $100, they never admitted a hack, but the fact that both of these exchange simultaneously went to this price, whereas the perhaps much more secure Bitstamp never, would suggest to me some kind of co-ordinated attack. Indeed, this has happened with Gox on more than one occasion, and these events were reported as 'hacks'......

......so what the fuck are you talking about?

Edit: Bobby Lee seems to be a bit of a 'conspiracy' nut as well as he has also alluded to the fact that the other Chinese exchanges fake liquidity. I wouldn't be surprised if the Chinese exchanges serve largely as a pumping and dumping tool of a consortium of Chinese whales with access to Western exchanges and money markets.

For price to spike that high, a buy order would have to be so big that it cleared wall after wall and it would take slightly longer for sell orders to replenish. IMO, it has to be a glitch.

Or their auto-volume bot glitched and missed out the order book component of the program and shot right up to the max limit set?

Birfinex refunded the lost funds.

it would show up in volume, but of course it doesn't, so yes it's not a buy.

For every person that got burned, another person made out - two sides to every trade.

You, of all people, should know the laws of the jungle by now!

I read a number of Chinese forums and no one is crying for this incident. So I believe it's only a glitch

589btc... hehe! That's the real amount of btc you'd find on huobi  ::)
 ;D ;D ;D

I agree you don't see a price chart like that in regular trading unless someone made some sort of giant order got hacked or a glitch occurs in the system itself anyways unusual stuff.

what about snowballing short squeeze?

I think it was a glitch. It isn't there anymore...

Since one small trade can't clear the orderbook, it must have been a bug in reporting, where an erroneous trade at 10000 was entered - either via bug or injected etc etc. Happens even on wall street, no surprise that it can happen on young exchanges.

https://i.imgur.com/pLYJ5t0.png

Did huobi contact bitcoinwisdom to erase it? bitcoinity still has it. jejeje  ;D ;D ;D

Uhhh, What the hell?

Weird stuff... They erased it really fast from Bitcoinwisdom.
I remember checking Huobi's website and they didn't have it as a day highest either.

this was just an API error, correct? looking at bitcoin wisdom and trading view, it doesn't even appear to have ever happened. so i'm assuming it was just a glitch of some sort.

It sounds like Huobi sending bad data over the socket. Probably something dumb like a formatting error. But if two sites show(ed) it, then the first place I suspect is Huobi API.

There is no way that would've been real with such low volume. Com'on, guys!

LOL if huobi spiked there and we found ourselves right back at this current price level, i think that would appear pretty damn bearish, don't you? :P

Yes it seems like they erased it quicly, i wonder what will happen in the other charts.

So it's a "bungle in the jungle?"
Something had to cause the glitch, I wonder what actually happened with their software?
or... Was it a real spike and a preview of next months Rally?  ;D

The flash crash in stocks did come before they fell anyway but never actually went as far down as many recorded in error.    So its basically erroneous I think.  If you want details of a real spike, look at the takeover of VW by Porsche

Looks like Chinese Willy has behavioural difficulties.