Bitcoin fell over $100 from the highs after service disruption at a major USD exchange. While BTC/USD is still in an uptrend, the same can’t be said for its little brother Litecoin. But let’s start with BTC and we’ll get back to LTC/USD later on.
Bitcoin Falls $100 Dollars
Bitcoin fell $100 dollars in the past 17 hours alone after the outage of major BTC/USD exchange Bitfinex. Prices on Fxopen were trading around $722 dollars per coin when the whole fiasco started last night. Just 30 minutes ago a low of $623.00 was hit.
Bitfinex migrated its data center recently and according to their twitter account, seems to be experiencing networking issues. This resulted in a long 8 hour outage last night, during which BTC/USD prices crashed over $50 dollars. Only few hours later, trading was halted yet again with BTC prices trading around $713 on that exchange. This caused a second round of selling with prices tumbling to a low of $623 on Fopen and $655 on other exchanges. Bitcoin prices are more stable on Chinese exchanges, fetching a premium of over $25 dollars to their USD counterparts.
Read More https://blog.fxopen.com/bitcoin-falls-after-exchange-outage/