Here we go again. Bitcoin (and just about everything else) crashed 15% during a 7 minute period when a whale or whales unloaded their BTC. At around 5:26 PM PST, Coinbase went down as well, but service was restored by 6:14PM.
Apparently, whales started liquidating their BTC positions in $2 million chunks just as the clock struck 5 PM in California. Bitcoin dropped from $9561 to $8570 in just under 30 minutes, before perking up to $8770, where it appeared to level off as of this writing.
$2,685,542 worth of #bitcoin SHORTED @ $8,599.47 [10/05/20 00:56:58]
The crash was met with predictable reactions all the way around. New York University Economics professor Nouriel Roubini did his usual Dr. Doom thing: "Massive pump & dump, spoofing, front running, wash trading! Total scam!" BlockFi CEO Zac Prince tweeted that he had been eating dinner and "missed the pure bottom here..but still glad to pick up more under 9k." And CNBC Crypto Trader host Ran Neuner wryly tweeted, "Is it the end of Crypto again?"
Expect more thrills and chills and outlandish whalish behavior as we head into Bitcoin's halving next week.
Bitcoin crashes by 15% in 7 minutes on NO news: a rigged, totally manipulated, whales-controlled market where most transactions (90%) volumes are false as exchanges pretend to have liquidity they don't have. Massive pump & dump, spoofing, front running, wash trading! Total Scam!
Top college football prospect Matai Tagoa’i is set to join football stars like Russell Okung, Odell Beckham Jr., and Trevor Lawrence by receiving his compensation in Bitcoin.
The linebacker will be paid part of his earnings via the Strike app after signing a “name, image, and likeness” (NIL) deal with the University of Southern California (USC).
The exact details of his package are not known, but some college football players, such as Shedeur Sanders, have received estimated payouts of up to $4....
The world’s largest asset manager BlackRock just debuted a new advertisement proselytizing the virtues of Bitcoin, but rather than cheer on the Bitcoin ETF issuer for its efforts, Bitcoiners aren’t happy.
The video, which is housed on the iShares Bitcoin Trust (IBIT) ETF page on BlackRock’s website, spends three minutes walking viewers through the evolution of money and key fundamentals of Bitcoin.
One of those fundamentals is Bitcoin’s 21 million fixed token supply.
While the video explains t...
El Salvador may have reached a deal with the International Monetary Fund that will see the tiny country scale back its Bitcoin law—but it’s still going to “HODL.” And it might even step up its BTC buys.
That’s according to Stacy Herbert, the head of El Salvador’s National Bitcoin Office, who wrote on X (formerly known as Twitter) Thursday that the country may even continue buying the cryptocurrency at an “accelerated pace” going forward.
El Salvador in 2021 made Bitcoin legal tender along with...
