Some people kept spamming the close position button (which is a terrible way to exit a trade in the first place, nevermind during high volatility but whatever) and bitfinex's engine fucked up and ended up selling and then buying and selling and buying the amount of their original position over and over.
Is this a fact that their trade engine has messed up or is this just someone's theory. If it's a fact, can I get a link with the proof please? This would explain though why no other exchange has followed Bitfinex.
But one panicky seller would also explain why the other exchanges didn't react. This has created huge arbitrage opportunities across the exchanges and has sent the price upwards.
it's not cuz their engine. The engine is what people complain about cuz they think because of that they lost money.
No, before the crash a large buywall was dumped in and the book was very thin and someone dumpd on that which caused a cascade. The crash is legitimate and not bitfinex fault. Their bad engine in such situations just starts to make trouble but doesn't cause them of course.
The market is thin/illiquid , that's what causes it.
