$1050 2min flash dump anomaly

[Vaccinus]

Because of the recent news, there was a flash dump anomaly earlier today, from over 1200 to 1050 then quick recovery.

Is this a sign of popping bubble or was it just a single whale dumping or bot anomaly?

What about technical analysis? Discussion.

can you post screen on which exchange this happened, i didn't see anything coming? but i can say that if it was not on all exchange, it was probably internal manipulation and nothing important

Sorry to say, but the lowest price was $1176 at Bitstamp and $1185 at Bitfinex. From where do you get $1050? Either way, it's just a large trader that most likely took profits. It's a fact that order books lack liquidity, and thus a large trader needs to sell the price significantly down in order to unload the amount he wanted to get rid of.

Coinbase.

still it was $1190

yeah but the volume was very low, it was indeed a stupid manipulation, to cause  panic dump, but investors aren't stupid

[ridery99]

Volume of that coinbase dump was 1690 btc, pretty intense.



https://cryptowat.ch/coinbase/btcusd

[coinling]

Volume of that coinbase dump was 1690 btc, pretty intense.

actually 1690btc to drop the price 200$ which is almost 20% is ridicolous low.
Lets assume other sites trade after this then they get screwed.
Marketcap is 20billion so 2million is nothing.

I wont make my decision after a 2 million $ drop.

The point is the orderbooks getting thinner as the ETF decsison is knocking and noone wants to have orders in the book in the wrong direction.

[swogerino]

It was $1277 when I went to bed and then when I woke to check the price it was $1050.
What the frick man!

[leowonderful]

It was $1277 when I went to bed and then when I woke to check the price it was $1050.
What the frick man!

It was only temporary and chances are you'll see that 1050 tomorrow for a short time if ETF is denied. I bought at the bottom and sold a bit at the recovery so I made a little bit, nothing to write home about.

[cryp24x]

Volume of that coinbase dump was 1690 btc, pretty intense.

actually 1690btc to drop the price 200$ which is almost 20% is ridicolous low.
Lets assume other sites trade after this then they get screwed.
Marketcap is 20billion so 2million is nothing.

I wont make my decision after a 2 million $ drop.

The point is the orderbooks getting thinner as the ETF decsison is knocking and noone wants to have orders in the book in the wrong direction.

I think this wont affect BTC overall price, a dump in a single exchange can easily be recovered once buyer from other exchanges realized this.  They will move their funds towards that exchange and buy them enjoying the profit.  And that is what actually happen when it quickly recover back to the real price.

Or probably a whale just messed up his buy order  (as stated of one of the earlier reply) clicking sell order instead LOL,

[aardvark15]

The more I think about it the more I think it is probably a massive whale or a small number of whales who may have some inside info about a potential ETF approval. Perfect way to get more coims before the approval & subsequent moon trip? Simple......dump a shit load of coins which makes morons panic sell......then buy up a load of cheap coins in tike for moon launch.

Yes whales will manipulate the price by pumping and dumping. The price could even be artificially high right now due to manipulation.

[ridery99]

It seems that someone had a clue about the future price trend and dumped before others. Bots probably made the price drop even further. Let's see how this thing develops.

[Zadicar]

It seems that someone had a clue about the future price trend and dumped before others. Bots probably made the price drop even further. Let's see how this thing develops.

We can say it might be a clue but sudden dump and rise up again is quiet confusing or these might be some another bug.correct me if im wrong.Price of bitcoin didnt touch on that price point and some say its just on coinbase which a whale sudden dump his coins.

[Farma]

I do not believe that prices will fall in the bitcoin very quick time. but, I might believe it, if it goes down in a long time. I think this has something to do with the discussions held by the ETF. I just hope that this issue settled quickly.

[Bitcoinsummoner]

I do not believe that prices will fall in the bitcoin very quick time. but, I might believe it, if it goes down in a long time. I think this has something to do with the discussions held by the ETF. I just hope that this issue settled quickly.

Ohh!!! i didn't notice that the price also down.. and i think this is because the news about ETF.. From 2 days ago the dump also happen but until now we see that 2 times dump happen and i think more dump price will happen. hope that ETF will not affect the bitcoin price. .

[numismatist]

What about technical analysis? Discussion.

Not much to discuss there, since it mostly failes on a situation like we got today. There are some news events pending!
I would advise placing a low buy order. Just to get some cheap, but if everybody tries the orderbooks depth will be to huge for the effect to bear some fruits.

[U2]

Ya I dumped 10% of my bitcoins so that's where the big wave came from. Watch out for us whales  

You shouldn't worry about every blip in the price. We had a 150% rise last year didn't we? Don't worry about it.

[Barbut]

If you call this anomaly, then most of the things that happens with bitcoin price are anomalies. Also I follow price movement everyday, and todays lowest price was 1,164.70 dollars, where did you saw that 1050 dollars?

It was $1277 when I went to bed and then when I woke to check the price it was $1050.
What the frick man!

Just you and OP saw that price, I`m looking around but I don`t see that anyone else noticed this drop, what ever happened looks like now everything is back to normal. I wouldn`t worry about this, anyway I expect some little drop in close future before we continue to 2000 dollars.