Crypto Cereal

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Category: Trading

China stock exchange closure causes Bitcoin price surge

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China has halted trading on its stock exchange just 15 minutes into the days trading. Stocks initially fell by 5% which triggered an automated closure, stocks then fell a further 2% when the exchange reopened which forced the exchange to close for the remainder of the day to prevent further losses. This is China’s second stock market closure in 3 days due to plummeting share prices.

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Suspected fake volume manipulates Bitcoin price

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After the last price pump climaxing on November 4th, globally the price of Bitcoin was undergoing a heavy correction to the down side. The price had stabilised at just over 2000 CNY but it was looking likely to further correct when a suspected fake volume pump on the Chinese Bitcoin Exchange; OKCoin, caused the market to begin to rise again prematurely.

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BTC-E Margin Call Cascade

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Yesterday BTC-E traders were stung by yet another margin call cascade which occurred on the Russian based Bitcoin Exchange. Prices swung wildly between USD$280 and USD$150 in the space of two minutes with around 2000 Bitcoins changing hands in this short period.

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