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Boasting a community of over eight million people, eToro is one of the leading global trading and investment platform and it specialises in cryptocurrencies. Although there are more than 1,200 assets to trade on eToro, which was founded in 2007, it is in the crypto space that it is particularly popular. The innovative platform began offering Bitcoin in 2014, and at the time of writing mid 2018 eToro has 10 cryptos available to buy outright. These are as follows: Bitcoin; Bitcoin Cash; Ethereum; Ethereum Classic; Dash; Ripple; Litecoin; Stellar; NEO; and EOS. The motto at eToro is Cryptos Neednt Be Cryptic and the team are always trying to educate users about cryptocurrencies, through blogs, videos and other helpful resources. And to make trading even more straightforward eToro has two pioneering tools CopyTrader and CopyFund that are game-changers for crypto investors of all levels. The first, CopyTrader, allows users to match top traders automatically, and is perfect for those users who are unsure about what cryptos to invest in. Over time, and by monitoring the top traders strategies, eToro clients can build up their trading experience and confidence. The second allows users to diversify their portfolio

Reading:Huobi To Start Tether Trading For Important Turkey Lira By End Of…

Osato Avan-Nomayo@3rdPesinSingulaMay 17, 201903:01

Osato Avan-Nomayo@3rdPesinSingulaMay 17, 201903:01

A 5,000 BTC dump on Bitstamp likely caused the bitcoin price flash crash that occurred during the early hours (UTC) of Friday (May 17, 2019). Bitcoin plunged to as low as $6,100 on the exchange but has since recovered over $7,000 over the past few hours.

A trader on the Bitstamp exchange reportedly put up a sell order of 5,000 BTC at an oddly low price of $6,200. This move caused a massive price plunge on the exchange, setting up a temporary arbitrage opportunity.

The effect soon spread across the market to other exchanges with the BTC market average falling to about $7,100. As at press time, Bitcoin had rallied to $7,300 on most of the popular BTC exchange platforms.

Details are still hazy at this point but there are three likely theories for what happened awhale dump, fat finger error, or a bot glitch. However, given the lack of significant volume variance at the time of the crash, it seems unlikely that the crash was as a result of a deliberate dump.

On the flip side, looking at the chart from Bitstamp, the dump occurred over a 10 to 12-minute period with the orders being continuously executing at consecutively lower levels than the market price.

Such a pattern reeks ofmanipulationbut the tradeoff seems counterproductive unless they held high leverage short bets on another exchange, say BitMEX. Theoretically, the dump would cause massive liquidation of long positions thus ensuring profits for the trader.

As NO ONE will simply keep 5000 BTC on exchange, this is deliberately planned dump scheme, aka manipulation imo

That dumper can on one hand dumping on stamp with poor liquidity move the Bmx contract 100x short on Bmx to take huge advantage in stacking cheap BTC

Dovey Wan 🗝 🦖 (@DoveyWan)May 17, 2019

Again, these are still speculative explanations, butBitcoinistwill continue to monitor the situation and provide updates as they emerge.

Fridays flash crash halted BTC/USD parabolic advance and confirmed predictions of a possible retrace. Bitcoin is currently down more than ten percent.

Tuur Demeester (@TuurDemeester)May 17, 2019

The crash also occurred at the tail end of what looked to be price fatigue for BTC with the parabolic advance losing a bit of momentum. With fundamentals largely unchanged, this slight blip might not be enough to stop the bull market completely.

On Thursday (May 16, 2019),Bitcoinistdidanticipatethat Bitcoin could be due a retracement, perhaps down to the mid-$6,000 level.

Elsewhere in the market, altcoins have also suffered significant 24-hour trading day losses after animpressive rallyover the week. XRP is down about 15 percent with only a handful of the top-100 cryptos showing any positive price changes at the end of the week.

Do you think what happened on Bitstamp was a mistake or a deliberate whale dump? Let us know in the comments below.

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