Bitcoin Soars 20 Percent, Mystery Buyer Seen as Catalyst
April 2nd, 2019Via: Reuters:
Bitcoin burst to its highest level in almost five months on Tuesday, sending smaller cryptocurrencies up, with analysts ascribing the move to a major order by an anonymous buyer that triggered a frenzy of computer-driven trading.
…
Oliver von Landsberg-Sadie, chief executive of London-based cryptocurrency firm BCB Group, said the move was likely triggered by an algorithmic order worth about $100 million spread across major exchanges – U.S.-based Coinbase and Kraken, and Luxembourg-based Bitstamp.
“There has been a single order that has been algorithmically-managed across these three venues, of around 20,000 BTC,” he said.
“If you look at the volumes on each of those three exchanges – there were in-concert, synchronized, units of volume of around 7,000 BTC in an hour”.
