In the night of Wednesday, August 22, the price of the first cryptocurrency in one minute increased by more than $300, breaking the mark of $6700. It happened virtually simultaneously with the departure of the popular cryptocurrency exchange derivatives on technical work.
As seen in the chart below, the price surge happened at exactly 01:00 UTC, when BTC before that much of Tuesday traded around $6450, rose to $6745.
Moreover, during the next hour the first cryptocurrency made another attempt to go up and even touched on Bitstamp at $6906, but later corrected and at the time of publication is trading around $6700.
The fact that the price of bitcoin went up rapidly at the same time, as BitMEX began mehrabadi, drew the attention of many commentators in social networks.
the moment @BitMEXdotcom went offline pic.twitter.com/OxppDispgb
— CamelBusBananaWomp (@CamelBus_) 22 August 2018
Exchange BitMEX trading volume which in recent days has exceeded $3 billion, offers traders the ability to play on the drop in the exchange rate of bitcoin and other cryptocurrencies.
Note that three hours later, the platform announced the completion of the works, however, mentioned difficulties with access to the site, confirming also a large DDos attack, causing many users experiencing difficulties with sign-in accounts.
Login has stabilized. We encountered a large DDoS upon restarting web services. We will resume trading at 02:00 UTC (in 7 minutes).
— BitMEX (@BitMEXdotcom) 22 August 2018
Also pay attention to the fact that on the eve of the short positions on bitcoin at Bitfinex team at some point were only 3% below historical high.
So, as of 18:00 UTC on the Hong Kong stock exchange was open 39 591 active warrants reduction. Earlier, a similar situation was observed only once – on April 12, when the figure was 40 719 units.
At the same time, as noted by user @ArminVanBitcoin, then the price of bitcoin in a matter of minutes has increased from $6900 to $790.
“The majority is always left out to dry”, — he added.
The number of short positions on Bitfinex is once again approaching ATH, now 52% more than longs. Last time we had this, #bitcoin jumped $6,900 to $7,900 in a matter of minutes. Remember, the majority always gets rekt. 🤔 #hodl pic.twitter.com/gr2kNhyR09
— A v B ⚡ (@ArminVanBitcoin) 21 August 2018
Let us add that due to the recent jump in prices bitcoin is the first cryptocurrency market capitalization had risen to $115 billion, a similar figure of the total market digital assets on the background of simultaneous growth of altcoins increased to $218 billion.