GDAX Bitcoin Price Crashes to US$ after System Maintenance
It doesn’t toebijten often bitcoin exchanges cause a massive price glitch. For some reason, the GDAX exchange shortly listed bitcoin at US$0.06 vanaf BTC. This event occurred right after the exchange came back from scheduled maintenance. Fortunately, this price druppel did not affect universal bitcoin trading all that much. During times like thesis, it is good such a problem occurs on a smaller exchange.
Cheap Bitcoins At GDAX
A lotsbestemming of traders were astonished last night when looking at the GDAX bitcoin price chart. During a geschreven ogenblik, the BTC/USD price dropped by 99.9%. Keeping te mind how this trade revolved around 100 BTC ter volume, there wasgoed a geschreven scare among traders. Spil a result, bitcoin wasgoed valued at US$0.06 before returning to its frecuente price. A rather interesting event, to say the least.
It is worth noting GDAX had undergone scheduled maintenance just prior to this incident. However, rather than waiting for order books to be depopulated, market executions were resumed instantaneously after. That permits for traders to buy and sell bitcoin at unprecedented rates. Te this case, those who scooped up bitcoin at US$0.06 will be more than pleased. None of the other bitcoin exchanges emulated this price behavior, tho’.
One thing to keep ter mind is how this druppel affects the weighted bitcoin promedio. A loterijlot of websites use GDAX to compute futures index prices. Such a druppel to US$0.06 messes up the index finta a bit, to say the least. Spil a result of the druppel, the bitcoin price index shortly dipped to US$888.48. Unluckily for BitMEX users, some positions have bot liquidated te the process. The exchange will refund all affected users, however.
It is overduidelijk glitches like thesis can occur at any given time. It remains unclear why GDAX did not repopulate the order book before resuming trading, tho’. It is possible this is just a one-off event, albeit it is worth keeping an eye on moving forward. Futures exchanges using promedio prices for their index will be affected by thesis incidents if they everzwijn occur again. Moreover, if this problem repeats itself, the bitcoin price may effectively go down spil a result.