the lucky one who bought BTC at €1033 on Coinbase

[Husires]

Can anyone know what happened? Is this a bug, illegal transaction, or bad luck?
If not, how could it happen? limit buy filled with stop loss or market order?


I read most of the comments and couldn't find a convincing reason. It may be a bug, but you must pay attention when using coinbase. I hope for that lucky person to continue.

Source https://www.reddit.com/r/Bitcoin/comments/kvjmhk/congrats_to_the_lucky_one_who_bought_btc_at_1033/

[sunsilk]

This is literally buying at the dip. I think this is a bug, we've seen reports about this on Coinbase so they could stop and freeze its fund for the moment until the investigation will go.

And IIRC, I think that was yesterday in some other groups that someone keeps receiving an email from Coinbase that his orders and not pursuing and were cancelled many times. Maybe that's correlated to this bug incident.

[condoras]

This incident happened when exactly? Because neither today nor yesterday I see something.
Also on their blog, they don't have any related topic for something like this...

[boumalo]

Some traders set low limit buy orders in case there is a flash crash and a speedy recovery, I have not read on this particular case yet.

[condoras]

Some traders set low limit buy orders in case there is a flash crash and a speedy recovery, I have not read on this particular case yet.

Even if there is a crash for a minute, the graphs as well any historic/ time chart of Coinbase will show it. But I don't see anything.
@OP: Can you tell us the date of this event?

[TryNinja]

It's a visual bug. If you refresh the page, the drop will most likely be gone.

Lowest price was $22k: https://br.tradingview.com/chart/BLIFLuSS/

ETH was the one around €1033 on the 10th of January (shown on your picture). OP probably switched both coins quickly and the Coinbase interface fcked up somehow: https://br.tradingview.com/chart/BLIFLuSS/

[Bitcoin_Arena]

I believe it's just a bug. Coinbase had technical difficulties on which I presume is the date the screenshot was taken from, but the Bitcoin price did not drop that far in Coinbase. Basically what happened was people's buy orders were not being processed and this led to a difference in Bitcoin price in Coinbase by less than $350 as compared to other major exchanges as this tweet states

Nowhere else have I seen that the price in Coinbase dropped to the level seen in the picture.