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August 19 2014 11:03 p.m.;
On: 08/19/2014 11:06 p.m.
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The famous electronic currency plunged 35% in a few seconds on Monday. She then straightened.
Virtual currency encounter real problems.
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The bitcoin is reputed to be very volatile, twenty times more than the dollar, but he had never known a stall as marked as Monday. That day, he plummeted from 470 to 309 dollars (427-281 francs) in the space of a few seconds on the BTC-e platform. This loss in value of nearly 35% was quickly followed by a rebound to above $ 440. This is the first “flash crash”, or high-speed fall, affecting the electronic money.
This air pocket is apparently it was caused by no news or special conditions. “The only people who really know what happened are those who carried out the transactions. What we see here is only the tip of the iceberg, “responded the analyst Raffael Danielli, quoted by coindesk.com specialized site. Other experts see it as the hand of speculators who have panicked when he saw the fall of the currency when they had bet on a rise, according to “Les Echos”.
The assumption of price manipulation using algorithms of high-frequency trading can not be ruled out, continues to highlight the French business daily. The company believes Coinometrics anyway that some players were able to make substantial profits on this occasion.
Platforms exchange bitcoins are not as regulated as conventional exchanges, where circuit breakers are involved. These tools were installed in response to the “flash crash” of the index feature of Wall Street, the Dow Jones, which had lost more than 9% in ten minutes May 6, 2010, a first. They prevent sales series and plummeting prices.
(reg)
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