A single buy order of $2.5 million just bolstered Bitcoin by 2.7%

02 Jan, 2019 | Updated: 02 Jan, 2019
by Will Heasman
Price Action
A single buy order of $2.5 million just bolstered Bitcoin by 2.7%

As the entire crypto market enjoys a moderate boost most people are left scratching their heads as to what just happened…

Bitcoin was the first to jump, with an impressive increase of around 2.7% in less than 30 minutes.

It appears that the boost can be tracked back by a single buy order on the crypto exchange, Bitfinex. It was noted that 661 BTC was purchased by one account, amounting to a USD equivalent of $2.5 million. 

661 BTC ($2.5 million) purchased in 1 minute on Bitfinex from r/CryptoMarkets

It seems that this singular buy order was enough to push not only BTC up but the entire crypto market along with it rising by a modest $3 billion overall. 

The boost, and it's catylst didn’t go unnoticed by the community, who took to reddit to speculate upon the rise: 

Some even suggested recreating it:

It's unclear why such a large amount was purchased through Bitfinex and not an OTC market. Some point to a malfunctioning trading bot and others have postulated that it may have been Bitfinex buying the BTC themselves.

What do you think of this pump? Let us know in the comments!

Read more: Bitfinex plans major maintenance, with 7 hours downtime

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Read more about:Bitcoin (BTC)Bitfinex

Poll

Who bought the BTC?

(33 votes)

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Bitfinex holds a great amount off BTC so that boost just happened eventually, however still not enough to pump a market
02 Jan, 2019 - 14:01
such a wealthy traders bitfinex got
02 Jan, 2019 - 20:27
indeed I' m surprised also could be bigger, till it's Bitfinex
06 Jan, 2019 - 06:01
Oh, it is not so big a,ount to make such manipulations.
It may be a whale, why is Bitfinex guilty?
07 Jan, 2019 - 08:10
Nice to see such the clever users
you are absolutely right
13 Jan, 2019 - 19:57
Are there few those people who can invest such a large amount of money in crypto? I think Bitfinex has nothing to do with this
03 Jan, 2019 - 19:10
Ofc, Bitfinex is not involved in manipulations
08 Jan, 2019 - 05:10
There are enough speculators in the crypto industry but I think Bitfinex wouldn't do that to don’t damage its reputation.
03 Jan, 2019 - 20:27
Of course Bitfinex will newer do it. it is not their choice
09 Jan, 2019 - 21:45
Bitfinex has great volumes for the professional traders so I don't know the better place for the trading.
03 Jan, 2019 - 20:42
There is no better please for the traders now. Most of the pro traders choose Bitfinex
12 Jan, 2019 - 02:57
I don’t believe in these rumors. Bitfinex is reliable and transparency. It isn’t involved in pumping
03 Jan, 2019 - 20:54
i don`t want to believe that bitfinex can do such shit
09 Feb, 2019 - 09:07
Bitfinex as for me is one of the best exchanges nowadays. I can strongly recommend this exchange for the trading.
03 Jan, 2019 - 21:22
I agree that it is a good exchange.
I don`t believe that it is a planned manipulation
18 Jan, 2019 - 09:16
I don't think it was a pump. Bitfinex is one of exchange which I can trust and it can't be involved in wash trading
03 Jan, 2019 - 23:05
It is definitely strange situation but I think it is randomness. I haven't noticed before that Bitfinex was providing pumping
03 Jan, 2019 - 23:33
Of course, Did not surprise me much
bitfinex had the best pair bitcoin/us$
05 Jan, 2019 - 20:12
I don`t think that Bitfinex is involved in the manipulations
09 Jan, 2019 - 16:14
They have newer manipulated the market. Bitfinex is too clever for it
13 Jan, 2019 - 06:45
While the whales are sleeping everything will remain in their places. Bitfinex offers excellent trading conditions so such deals happen sometimes
22 Jan, 2019 - 20:53
I doubt that these could be speculations of Bitfinex, there may have been a glitch
23 Jan, 2019 - 20:23

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