Bitcoin Price May 17 The BitMEX flash dropped from around $ 7,800 to $ 6,700. Immediately thereafter, the price of Ethereum dropped from $ 240 to $ 190.
The sharp drop in Bitcoin's price led to a large sales order in Bitstamp and other important cryptographic exchanges that contracted the margin trading platforms, for example. BitMEX liquidated
Stop Stamping to Bitmex Liquidation.
– Light (@LightCrypto) 2019 May 17
A whale crashes the entire encryption market in 5 minutes with 20% when one sales order is sold in books, and people really think the ETF is coming? 19
by Eric Conner (@econoar) 2019. May 17
Conner argued that manipulation of a cryptographic market, possibly one whale could undermine exchange opportunities. -traded Foundation (ETF) approval in the near future
Bitcoin's wave accelerated?
5,000 BTC sells the Bitstamp border, which has sold Bitcoin and Ethereum to BitMEX's reduced crypt market valuation of $ 30 billion. Dollars overnight
Over the last seven days, however, the price of Bitcoin has risen from around $ 6,200 to $ 8,300, more than 26 percent.
Some analysts, including world market analyst Alex Krüger, said that 10 percent of all analysts in the world are in the lead. Overnight depreciation of most of the assets in the crypt could be evidence that the viability of the encryption assets in terms of safe shelter against global financial instability is wrong. :
"We can now postpone this unconscious bitcoin story as a hedging for the US-China trade wars. The transfer was caused by several parties, including this accident. Not so sexy, I know.
As the short-term action of Bitcoin and other major cryptographic asset prices penetrates the market, investors are still hoping that the market will maintain its positive attitude and trends in the coming months  Although many investors were hoping for a weak market for encryption, property has fallen, was unexpected for traders.
More reason why Bakkt is convincing
In some sense, the short-term correction was caused by whale exploitation of the current structure of the crypt market
If the market was more reliable, regulated and widely used, manipulation can be more difficult  Peter Brandt, respected dealer and technical analyst, May 13 said Bakkt, which is scheduled to take place in July CFTC) may have a long-term impact on the crypt market. Brandt said:
"This treaty will be the tide of death in ten and dozens of unscrupulous and ilfid exchanges around the world, as industry promotes a standardized price discovery with a custodian and trade settlement process."
Bitcoin and the rest of the cryptographic market dropped 10 percent fast , leaving a relief after the rapid negative price movement
Bitcoin, currently occupied at market price, is lower  9.27% in the last 24 hours. The market price of BTC is $ 129.19B, 24 hours – $ 30.39.
Chart by CryptoCompare
Filed Under: Bitcoin, BitMEX, Crypto Exchanges, Ethereum, Price Watch
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