(+) Acquiring Bitcoin: Profiting in a Flash Crash
We promised another article about peer-to-peer trading, but given the events of yesterday, when the Winklevoss Twins had their Bitcoin ETF denied and panic selling ensued, it’s a good time to talk about what to do when the prices drop sharply in a short period of time. Bitcoin was at a high of almost $1300 and within hours had dropped below $1000. It appears to have slowed down around there, now having climbed back up to over $1100. If you’re business-minded, you already see where the opportunity was here. If you had been able to get anyone to sell you bitcoins at around $1000 yesterday,....
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Cardano (ADA) has not been left out of the massive flash crash that just occurred throughout the market. What seemed to be a good day for bitcoin as El Salvador’s “Bitcoin Day” began has now turned to nothing short of a nightmarish market opening. The crash saw bitcoin drop $6K in only a matter of hours. While the general altcoin markets have recorded crashes as high as over 20% in the same timeframe. With altcoins following bitcoin closely, the price of the ADA shows similar movement patterns to BTC following the flash crash. The number 1 crypto coin fell to the mid-$40K, taking the whole....
Highly volatile cryptocurrencies like Bitcoin, Ethereum, and other altcoins can behave irrationally at any given moment, especially when turbulence strikes. But what happened this morning on the US branch of Binance, was shocking for even those who have seen flash crashes happen in real time. The result of a massive wick left on the BTCUSD chart was a violent trip to $8,000 where coins were potentially exchanged for prices that are currently 87% lower than where Bitcoin is trading at right now. Here is a closer look at what went down, and what might have happened as a result. Flash Crash....
Bitcoin underwent a mini flash crash on Wednesday as its price fell from $59,400 to nearly $57,000 in just five minutes of trading. Analysts blamed overleveraged long positions for the downside move, with the plunge liquidating about $600 million worth of extended bullish contracts across major futures exchanges. The wipeout followed up with a short […]
Bitcoin prices slumped over the weekend, falling to a low of $50,000 on Sunday before rebounding, as a flash crash impacted leading cryptoassets. Bitcoin, Ethereum and XRP, as well as most other major altcoins, were all hit by a sudden flash crash early Sunday morning, sending prices down sharply. Power outages in China, which consequently […]
Bitcoin is barely recovering from a bloody weekend. Trading at $56,767 with 2.8% profit in the daily chart and a 5.6% loss in the weekly chart, BTC’s price outlook might seem bearish. However, investor Nik Yaremchuck shared a fractal comparing Bitcoin’s worse period in 2020 and the weekend’s flash crash. As can be seen below, […]