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How Ethereum fell to $ 190 through an unexpected correction



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

  ethereum price increased 70% + end of year
Most encryption tools like ethereum is still more than 70 percent . Year (Origin: OnChainFX)

Eric Conner, Gnosis Creator : :] "For Bitstamp, someone sold 5,000 BTC, which BitMEX uses for 50% of the feed, and it seems to have turned off some

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 [19659002] 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 [19659002] 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 [1] 9.27% ​​ in the last 24 hours. The market price of BTC is $ 129.19B, 24 hours – $ 30.39.

Chart by CryptoCompare

Bitcoin dropped 9.27% ​​in the last 24 hours

Filed Under: Bitcoin, BitMEX, Crypto Exchanges, Ethereum, Price Watch

  Joseph Young

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