$176 Bitcoin on GDAX?

[le93baron]

Yesterday I was watching the Bitcoin price chart on GDAX at about 6PM EST.  All of a sudden I noticed this huge downward spike and quick re-scaling of the graph.  I quickly took a screen grab.  Then I saw that it looks like someone picked up Bitcoin for the low price of $176 per.  You can see it on the right.  What is that?  .... What a deal, huh?
https://i.imgur.com/dFV1Ptx.png

[silverstar43]

That seems like graphics glitch because of exchange delay.  A lot of activity during that time so if you refresh the page, it will correct the charts.  Although gdax has suffered from flash crashes with ETH.

[Red-Apple]

it is hard to tell with 100% certainty but this looks like a bug to me.
look at history at 17:56:35 the last order is filled at $10,xxx and then the next one after 2 seconds at 17:56:37 is filled at $176.14 and that is ~20 orders at that same time.

that doesn't seem natural. my guess is that some internal bug in their orderbooks caused the system to ignore all the other open orders above $176.14 and instead choose this one which got filled followed by some more orders at that range being filled!

(someone bought 7.04343xxxxBTC at $176.99 ROFL that is worth $70,980 now)

That seems like graphics glitch because of exchange delay.  A lot of activity during that time so if you refresh the page, it will correct the charts.  Although gdax has suffered from flash crashes with ETH.

if i am not mistaken during the ETH bug the orderbook was cleared and it stayed there for a while. this seems to have skipped everything while all the orders stayed  there above that price.

[chuckblocker]

That was Trump, they gave him the "real" price )

[Arngrim]

If it is a bug then they can trace the user who bought it and get it back?
If I were the one who did it then I better run and send it to another address before they have control of my account at gdax..
That is a lot of difference.
Looks like theyve lost a lot from just a simple website error.

[Anti-Cen]

Looks like a but but I know for a fact the charts are doctored and on the 7th December 2017 that BTC went to
$19,430 and was over $19,000 for half an hours but that peek got edited out of the charts

Watching GDAX just now and it's gone below the $10,200 glass floor and is now at $10,065
and if you look at the BTC price since fees shoot up then you can see that the price has been
falling. This casino is not being ran by the mafia and today the bouncers on the exit door
could well try to block them and you could see Coinbase having another technical glitch as
they front run trades

[BTCLovingDude]

If it is a bug then they can trace the user who bought it and get it back?
If I were the one who did it then I better run and send it to another address before they have control of my account at gdax..
That is a lot of difference.
Looks like theyve lost a lot from just a simple website error.

the person who bought this (which seems to be only one since the timestamps are all the same) has already withdrawn the nearly 10BTC that he bought at that ridiculous low price and is now holding it in paper wallet out of the reach of anyone

[teejaymuna]

That person is so lucky to buy at that price. I wish I had same luck too. Anyways, it doesn't happen like that always and I'm very sure it won't happen again. The person must have been targeting the recent market fluctuations.

[poptok1]

Someone got super rich  Or rather is was a glitch. Question usually is, was it accidental? ( probably yes, in this case)
You would be surprised how often those kind of bugs are being displayed on regulated/official market floors.
Sometimes it causes panic but usually nobody is treating such sudden spikes seriously.
It was 16 days ago that Nikkei 225 was showing charts from the past, software error mixed the dates from 2016.
What would happen if markets where open that day?

[le93baron]

Thanks for the input.
That's what I was mainly wondering... was it a real trade or not, even if it was a technical glitch.  And doesn't that mean someone had to sell it for $176?   

This recalls to my mind an incident I had on a different exchange.  I was trading an altcoin and wasn't careful.  It had so many zeroes after the decimal point, like 0.00005161 per Bitcoin, that when I placed my selling price I accidentally added an extra zero making it 0.00000516 instead.  A window even popped up warning me, something I ignored.  Only after I saw how little USD I yielded did I recollect the warning message was trying to tell me I was selling at a significant % less than market price.   I lost a lot of money on that trade - stupidly.