The scope of the Binance.US error, however, was in a league of its own and did not go unnoticed by market participants.
But even this kind of pullback could not kill the inherent uptrend and in one of our previous reports, we mentioned that a breakout above $62,500 was required for BTC to resume strength.
.
Despite the concerning news and slight pullback in traditional markets, BTC and ETH prices rose, a dynamic that analysts such as Anthony Pompliano refer to as “asymmetric price action” where investors see a red hot stock market and unsustainable central bank monetary policymaking risk-on assets like Bitcoin as attractive investments and hedges against gold, the dollar and inflation.
Identifying the determinants of asset prices is one of the most important questions in finance. Traditional asset pricing theories are founded on the idea that equity prices should be determined by fundamentals such as earnings (Gordon 1959, Campbell and Shiller 1988). In contrast, the behavioral finance literature posits that prices do not always follow fundamentals due to investor sentiment trading (Shiller 1981, Baker and Wurgler 2006, Stambaugh et al. 2012). Eventually however, equity prices seem to trace their fundamentals (Pa´stor and Veronesi, 2003, 2006, Bartram and Grinblatt 2018).
LifestyleHomes and GardensFood and DrinkTravelStaycationsFamily and ParentingCarsTechOutdoors
Home / Markets / Cryptocurrency / Bitcoin appears to crash 87% in a flash on Binance’s US venue Bitcoin appears to crash 87% in a flash on Binance’s US venue Premium Volume on the exchange in that minute was 592.8 Bitcoins, which are worth just shy of $40 million at current prevailing prices. (REUTERS) 1 min read . Updated: 21 Oct 2021, 09:54 PM IST Bloomberg The price of Bitcoin appeared to rapidly — and only temporarily — plunge about 87% on Binance’s U.S. exchange Thursday morning, sinking to as low as $8,200 from around $65,000. The price did nothing like that on other venues, and on Binance the level almost immediately snapped back to where it had been. The plunge occurred at 7:34 a.m. New York time, according to Binance’s website. Volume on the exchange in that minute was 592.8 Bitcoins, which are worth just shy of $40 million at current prevailing prices. Mistakes like this happen throughout finance when, for instance, traders mess up details of their intended trades, entering the wrong price or order size. An erroneously large trade, as one example, can overwhelm an exchange’s order book, leading to a quick and massive decline. The entire U.S. stock market famously flash crashed back in May 2010, though equities have mostly avoided trouble since that era. This is the latest in a string of recent high-profile trading problems in crypto. Synthetify, a new decentralized exchange, was forced to shut down for a while earlier this month shortly after its debut because of bad data provided by the Pyth Network, a price feed backed by some of the world’s most well-known trading and exchange firms. Pyth malfunctioned another time in September, erroneously making it appear that Bitcoin had crashed 90%.
One investor who wasn’t deterred was Barstool Sports Inc. founder Dave Portnoy. In May, he announced to his 2.6 million followers on Twitter that he’d bought $40,000 worth, despite saying that SafeMoon could be a Ponzi scheme, a scam in which early investors’ returns are paid with funds coming from later buyers that collapses when new deposits dry up or too many people try to cash out.
DON’T MISS POLITICO’S SUSTAINABILITY SUMMIT: Join POLITICO's Sustainability Summit on Tuesday, Nov. 16 and hear leading voices from Washington, state houses, city halls, civil society and corporate America discuss the most viable policy and political solutions that balance economic, environmental and social interests. REGISTER HERE.
Product DirectoryASIC MinersBlockchain ExplorersCommunicationDApp BrowsersEOS DAppsEthereum DAppsGamesHard WalletsMining CardsPrice Tracking AppsTrading AppsWallet Apps
Cryptocurrencies are an alternative to traditional money. Today, some outlets accept cryptocurrencies as a form of payment. However, they bear little resemblance to other asset classes because they are intangible and extremely volatile. They are mainly used by traders for speculating on rises and falls in value.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102191
At each point information from neighbouring data is used. As the time series considered are finite, the areas at the start and end of the data (especially at higher period bands) will not have all the data required. One solution to make computation possible, chosen here, is to pad the time series with zeros where required. However, the zero padding will impact the reliability of the results. It is standard to use a cone of influence to represent this difference in reliability of results. Pale colours represent those areas outside the cone of influence with less reliable results (as seen on Fig 3). Higher period bands require more data for computation resulting in the cone shape.
Registering an account on Binance.US is a relatively straightforward affair and includes providing a user’s email address and password and interacting with a verification email.
Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC's Cathie Wood.
But before you look further make sure you’re aware of the risks when it comes to cryptocurrencies in general.
HomeNewsSportWeatheriPlayerSoundsCBBCCBeebiesFoodBitesizeArtsTasterLocalThreeMenu
Aston Villa FCGareth Southgate sends warning to Steven Gerrard following Rangers exitAston Villa have appointed Steven Gerrard as Dean Smith's successor as head coach