Bitcoin Price Rebounds as Bitfinex Licks Wounds
It’s been quite a ride on the cryptocurrency rollercoaster this summer. The price of Bitcoin has rebounded after the Bitfinex theft caused price to plummet over 20%. It has now rebounded back to around $580 as the exchange has released details of reopening. Bitcoin Pares Losses, Bitfinex to Reopen. On August 2, Bitcoin exchange Bitfinex was breached for....
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On-chain data suggests there may have been a strong correlation between the Bitfinex Reserve and the Bitcoin price during the crash to $35k. Bitfinex Reserves Rose Sharply As BTC Price Plunged Down To $35k As pointed out by an an analyst in a CryptoQuant post, the movement in the Bitfinex reserve seems to have had […]
Matching our analysis, Bitcoin price plunged to near $500 BTC/USD today. That is if you were looking at the Bitstamp exchange price. BitFinex, on the other hand, saw $460 followed by a return to $500 only to slam down to $451 a few seconds later. Is this the result of some systemic error or perhaps manipulation being exercised via the BitFinex exchange? Could it be that some early adopters are cashing out, or perhaps the news? Far from it, as the following explanation will clarify. BitFinex is one of the few major exchanges that offers traders the option of margin-based trading. The others....
Comment added from Zane Tackett, BitFinex's director of community and product development. Bitcoin's price fell 14% in a period of just 30 minutes following a 'flash crash' on exchange Bitfinex yesterday night. The CoinDesk Bitcoin Price Index had been holding steady between $250 and $255, but dropped to a low of $214.36 just before midnight (UTC). In the same period, the Bitfinex price sunk 29% to $179.35. Bitfinex, which claims to be the most liquid exchange in the world, told CoinDesk the 'flash crash' was triggered when several leveraged positions were forcibly closed in close....
The price of Bitcoin has dropped quite a bit over the past 24 hours with the USD value plummeting to $480 per bitcoin. The price has partially rebounded however, hovering around $540 at press time. Meanwhile, much of the blame is being pointed at the compromised Hong Kong-based exchange Bitfinex. Bitfinex Breach Shakes Up The Community. On August 2nd,....
CoinDesk has added Bitfinex to the Bitcoin Price Index (BPI) today as of 16:00 GMT. Bitfinex, which is incorporated in Hong Kong, has been on CoinDesk's radar for possible inclusion in the BPI for some time now. Over the past several weeks, and particularly since the decline of Mt. Gox, we have observed that Bitfinex has been able to sustain a dramatic increase in its share of the total volume of US dollar-denominated bitcoins traded. CoinDesk has also verified that Bitfinex meets the CoinDesk BPI criteria, which include rules ranging from minimum trade size to maximum customer withdrawal....