Yesterday evening brought really unexpected situation on BTC-e – cryptocurrency exchange. Price plummeted to as low as 309USD (-36% in no more than 10 minutes). The drop appears to have been caused by a huge sell quantity of 7300 Bitcoins (worth about 3.4 mln USD). Currently price recovered and hovers around $447.
We can find more detailed information on DCMagnates:
“The price has now recovered to $447, and rising.
Other exchanges did not experience the same drop. On Bitstamp and Bitfinex, the price declined by about 5% as traders became unnerved by the price action on BTC-e.
It is possible that the dump originated from a trader looking for a quick exit as crypto markets have undergone one of their roughest stretches in recent memory.”
