BTC-E Flash Crash August 18th 2014

BTC-E Bitcoin price hit a low of $309 in early morning trading today.

A little over 7500 coins have traded hands on BTC-E in the last 15 minutes, which is right around the exchange’s daily volume traded. What’s going on? Something smells fishy in Russia… or is it Romania?

The question remains — why would anyone dump on the BTC-E market? Perhaps an algo gone awry, but everyone knows BTC-E is worthless for FIAT, a true roach motel, so any trading activity would ultimately be consummated in a withdrawal of BTC or LTC back to the traders’ wallet. Was this a vapid attempt at market manipulation to drag the Chinese Dragon?

Other markets are reacting to the sell off, with both Bitstamp and Huobi seeing a collective 5,000 BTC sold off between themselves in parallel with BTC-E.

3 thoughts on “BTC-E Flash Crash August 18th 2014

  1. lebandit

    are they so lot of speculators, escrocs and criminals behind BTC?
    The questions remains… Why so much sells at a few times? Specials are saying nothing when users need explains. The transparency problem is a big problem in BTC system.

     /  Reply

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