will list this product signals that it will likely become a mainstream financial instrument sooner rather than later. That spike in demand drove prices. Nasdaq Announcement Buttresses The Market, part of the reason for bitcoins resilience even as some traders have clearly begun to take profits from this weeks parabolic movement could be the news that Nasdaq, the worlds second-largest stock exchange, intends to list bitcoin futures contracts. It pretty quickly went to about 8,600, then went back above 10,000. At approximately 10:09 ET, the bitcoin jumped to a one-hour high of 11,399, which placed it just below the all-time high of 11,441 it had set at 9:13. Featured image from Shutterstock.
Bitcoin crash 29.11
Higher prices attract sellers, and when there are more sellers than there are people willing to buy at the higher price, then the prices have to start going down again. The bitcoin price plunged by more than 1,300 in minutes during a flash crash on bitcoin exchange Bitfinex but has since recovered above 10,800. The currency has led some on Wall Street to call its rise a bubble, as it is up more than 858 this year, and was up more than 2,000 since the Thanksgiving holiday. 1, today, the only thing backing up the dollar is the confidence of the people using it that has 1 worth of value. These factors are true whether youre talking about stocks, fiat (government-backed) currency, commodities, bonds, futures, or bitcoin - or anything else that people trade on an exchange.
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Source: BitcoinWisdom, following the flash crash, the bitcoin price quickly rebounded above 10,900, but it was unable to crack the 11,000 mark and quickly fell into decline. The so-called flash crash happened because it took place soon after a spike in demand that couldnt be sustained. Apparently after observing resistance at 11,500 a whale had set 11,400 as his or her target exit vector because at 10:11, the candle turned red, and three minutes later, this trader unleashed a massive market sell order. Markets Insider, bitcoin fell below 10,000 for the first time on Wednesday, after crossing the milestone just a day earlier. See Also: SEE also: Nvidia is getting hit harder than the rest of the tech sector.
Bitcoin had already been trading up in anticipation of the launch of bitcoin futures on Chicago-based CME, the worlds largest derivatives exchange. Keep in mind that prices like 10,000 and 11,000 attract sellers.
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