Bitcoin Crashes $500 in Minutes, Profit Taking, Short Making or What?
has suddenly dived from $4,100 to a brief low of $3,600 before some recovery to $3,800 all within about 15 minutes.
Other cryptos have likewise fallen. Eth dropped some 12% from $160 to $140 while XRP dived to 30 cent from 33 cent.
What happened is unclear at this stage with no obvious trigger as far as we can currently see.
It may thus simply be some profit taking after considerable recent gains, with crypto shorts and longs not really moving much although perhaps shorts in eth were a bit volatile during this period while longs in XRP were decimated.
Likewise in bitcoin it looks like 3,000 BTC in longs, worth circa $11 million, closed. Meaning that much was sold today. Shorts, however, have fallen too by 2,000 BTC, meaning that much was bought.
, Feb 2019.
Bitmex futures appear to be about $100 lower than ’s spot price at the time of writing.
It is not clear whether Bitmex was first to move down and whether the selling volume came from there, but it may well be some fat finger as whales perhaps are getting a bit nervous or excited.
CME’s futures are currently at a premium of about $100 at $3,900, so it looks unlikely this is Wall Street shenanigans, but there hasn’t opened for today.
CME’s contract usually closes on the last Friday of the month, which was this Friday. So this price crash may well be due that contract closing, with a new one now to open later today.
Crypto prices usually fall for some reason around the time CME’s futures close. Whether this is just a repeat of that ritual is not clear, but we’ll update if anything relevant comes in.
Much has been said about ICOs during the course of 2017. Are ICOs key to a successful startup journey? Yes, ICOs are now a huge part of the fundraising landscape, with a similar impact as Venture capital funding. While some beg to differ about the future of the crowdfunding phenomena, one can’t deny the impact it has had on many startups this year.
A successful ICO can say much about the innovative nature of a startup. For instance, a majority of presale participants are industry professionals and seasoned industry investors. This means the product is valuable at face value and can find mainstream applications. That’s seriously easy math.
Case in point is blockchain based , which announced its token sale on December 10, 2017, and set to end on December 31, 2017. Earlier, the gaming ecosystem successfully closed its presale with over $2 million worth of investment in BTC, ETH, USD, and EUR to successfully gaining recognition as one of the most promising blockchain projects in the gaming industry. The success can be attributed to the implementation of a unique investment system called SICS (Special Investment Control System), which is a personal escrow plan for every person who invests $500 thousand. The plan is a key stepping stone to ensure that all funds collected during the ICO round are correctly applied in accordance with the initial agreement.
FLUX’ concept revolves around creating a unique global gaming ecosystem where players, developers, traders, and the gaming community can convert time spent into gaming token FLUX COIN. The platform also creates a competitive gaming atmosphere that offers a marketplace for games, online streaming, and trading in-game items. Using blockchain technology, gamers, developers and investors will get rewards for matchmaking competitions, trading items on the marketplace and even crowdfunding their own ideas within the platform, in a transparent and automated way. This makes FLUX a good extension to the over $105 billion annual revenue – gaming industry.
The foundation of the FLUX ecosystem is based on introducing support platform which will allow players to compete in games from a list of available games, and earn opponent’s money after a successful win. With the use of smart contracts, the system will be capable of supporting a secure and transparent matchmaking process. Players can use BTC, ETH, LTC, EUR, or Visa/MasterCard payments etc to finance their gaming endeavors online. This will in turn guarantee the player descent earnings, given his/her gaming skills on a safe platform backed by a decentralized system. The platform will be available for Windows, MacOS, Linux, Windows Phone, iOS, and Android.
The 1st stage of the token sale is currently underway, while the 2nd stage will take place during the 1st quarter of 2018. The 1st stage started with a 25% bonus during the first hour, followed by 20% for the remaining part of the day. The bonus gradually reduced to 15% on the first week, 10% during the second week and 5% in the final week. The tokens will be available for purchase against payments in ETH (Ethereum), BTC (bitcoin), USDT, DASH, ETC, LTC, ZEC, VISA, MasterCard, USD, EUR, and SHAPESHIFT. Of the total amount raised, the FLUX team will control only 15% of the amount to give room for SICS plan holders.
More information about the platform and ongoing token sale is available at –
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