{"id":384579,"date":"2019-05-31T19:11:07","date_gmt":"2019-05-31T19:11:07","guid":{"rendered":"https:\/\/wncen.com\/?p=384579"},"modified":"2019-05-31T19:11:07","modified_gmt":"2019-05-31T19:11:07","slug":"bitcoin-price-flash-crashes-btc","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-flash-crashes-btc\/","title":{"rendered":"Bitcoin to Zero: Bitcoin Price Flash Crashes 99% on BTC\/CAD Trading Pair"},"content":{"rendered":"

Over the last two months, Bitcoin price<\/a> has rallied from the depths of the bear market to a well over a 100% gain for crypto investors who bought when there was \u201cblood in the streets.\u201d Those who did catch the bottom<\/a> have watched at their investment in Bitcoin double in short order, with little to no corrections throughout, expect for a flash crash that saw Bitcoin filling gaps<\/a> left on the chart during after hours futures trading.<\/span><\/p>\n

However, last night, another flash crash occurred on the price charts for BTC\/CAD \u2013 a flash crash that eliminated 99% of Bitcoin price in the matter of seconds, filling orders as low as just over $100 Canadian.<\/span><\/p>\n

BTC\/CAD Pair Flash Crashes 99% on Kraken<\/span><\/h2>\n

Bitcoin is going to zero<\/a>. We\u2019ve all heard the repeated doom and gloom predictions from pundits and critics of digital assets. As recently as last week, the New York Post published an article<\/a> that was barely a few sentences of useless counterarguments against Bitcoin\u2019s recent rally, asserting the cryptocurrency would soon reach zero.<\/span><\/p>\n

But have you ever watched Bitcoin almost hit zero right before your very eyes? That\u2019s what happened overnight last night on the Kraken<\/a> cryptocurrency exchange during trading sessions of the BTC\/CAD pair. BTC as you know is the \u201ccashtag\u201d or trading symbol of Bitcoin, and CAD is the symbol for the Canadian dollar.<\/span><\/p>\n

\"\"
Chart courtesy of TradingView<\/a><\/em><\/figcaption><\/figure>\n

During the flash crash, the price of Bitcoin in Canadian dollars fell from its trading range around $11,250, to a low of $101.20. Clever Kraken traders with orders at $100 were missed by just over a buck before the price of the cryptocurrency rocketed back into the range, leaving the longest wick this writer has ever witnessed on a price chart.<\/span><\/p>\n

Related Reading | Bitcoin Price Recaptures 50% of All-Time High, But Google Search Remains Stagnant<\/a><\/strong><\/em><\/p>\n

Some lucky trader had their orders filled for $101 Bitcoin. But there\u2019s a seller for every buyer, and some poor investor on the other side of the trade took a massive loss on their Bitcoin sale.<\/span><\/p>\n

The fall represented a 99% drop in price, essentially eliminating all value from Bitcoin and bringing it as close to zero that the asset has been since the early days of the asset and before the public knew what a cryptocurrency was.<\/span><\/p>\n

\"\"<\/p>\n

In traditional markets, failsafes called circuit breakers<\/a> are put in place on exchanges like NYSE by regulators to avoid flash crashes, or other rapid declines due to panic-induced selloffs. These measures were put in place following October 19, 1987 when the Dow Jones Industrial Average fell over 22% in one day. The flash crash that prompted the placement of circuit breaker was later dubbed \u201cBlack Monday.\u201d<\/span><\/p>\n

Crypto traders who keep a small amount of fiat on reserve with bid orders for crypto assets placed extremely low in case of a flash crash, may get filled and experience the most profitable trade of their lives in a matter of seconds.<\/span><\/p>\n

Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"
Over the last two months, Bitcoin price has rallied from the depths of the bear market to a well over a 100% gain for crypto investors who bought when there was \u201cblood in the streets.\u201d Those who did catch the bottom have watched at their investment in Bitcoin double in short order, with little to no corrections throughout, expect for a flash crash that saw Bitcoin filling gaps left on the chart during after hours futures trading. However, last night, another flash crash occurred on the price charts for BTC\/CAD \u2013 a flash crash that eliminated 99% of Bitcoin price in the matter of seconds, filling orders as low as just over $100 Canadian. BTC\/CAD Pair Flash Crashes 99% on Kraken Bitcoin is going to zero. We\u2019ve all heard the repeated doom and gloom predictions from pundits and critics of digital assets. As recently as last week, the New York Post published an article that was barely a few sentences of useless counterarguments against Bitcoin\u2019s recent rally, asserting the cryptocurrency would soon reach zero. But have you ever watched Bitcoin almost hit zero right before your very eyes? That\u2019s what happened overnight last night on the Kraken cryptocurrency exchange during trading sessions of the BTC\/CAD pair. BTC as you know is the \u201ccashtag\u201d or trading symbol of Bitcoin, and CAD is the symbol for the Canadian dollar. During the flash crash, the price of Bitcoin in Canadian dollars fell from its trading range around $11,250, to a low of $101.20. Clever Kraken traders with orders at $100 were missed by just over a buck before the price of the cryptocurrency rocketed back into the range, leaving the longest wick this writer has ever witnessed on a price chart. Related Reading | Bitcoin Price Recaptures 50% of All-Time High, But Google Search Remains Stagnant Some lucky trader had their orders filled for $101 Bitcoin. But there\u2019s a seller for every buyer, and some poor investor on the other side of the trade took a massive loss on their Bitcoin sale. The fall represented a 99% drop in price, essentially eliminating all value from Bitcoin and bringing it as close to zero that the asset has been since the early days of the asset and before the public knew what a cryptocurrency was. In traditional markets, failsafes called circuit breakers are put in place on exchanges like NYSE by regulators to avoid flash crashes, or other rapid declines due to panic-induced selloffs. These measures were put in place following October 19, 1987 when the Dow Jones Industrial Average fell over 22% in one day. The flash crash that prompted the placement of circuit breaker was later dubbed \u201cBlack Monday.\u201d Crypto traders who keep a small amount of fiat on reserve with bid orders for crypto assets placed extremely low in case of a flash crash, may get filled and experience the most profitable trade of their lives in a matter of seconds. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":384582,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,679,42310,42309,11266,2676],"class_list":["post-384579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc-cad","tag-canadian-dollar","tag-flash-crash","tag-kraken"],"acf":[],"yoast_head":"\nBitcoin to Zero: Bitcoin Price Flash Crashes 99% | NewsBTC<\/title>\n<meta name=\"description\" content=\"During the flash crash, Bitcoin price in Canadian dollars fell from its trading range around $11,250, to a low of $101.20.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin to Zero: Bitcoin Price Flash Crashes 99% on BTC\/CAD Trading Pair","url":"http:\/\/wncen.com\/news\/bitcoin-price-flash-crashes-btc\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-flash-crashes-btc\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/bitcoin-price-flash-crash-btc-shutterstock_323772509.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/bitcoin-price-flash-crash-btc-shutterstock_323772509.jpg?fit=7000%2C5000"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btc\/cad","canadian dollar","flash crash","kraken"],"dateCreated":"2019-05-31T19:11:07Z","datePublished":"2019-05-31T19:11:07Z","dateModified":"2019-05-31T19:11:07Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin to Zero: Bitcoin Price Flash Crashes 99% on BTC\\\/CAD Trading Pair\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-flash-crashes-btc\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-flash-crashes-btc\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/05\\\/bitcoin-price-flash-crash-btc-shutterstock_323772509.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2019\\\/05\\\/bitcoin-price-flash-crash-btc-shutterstock_323772509.jpg?fit=7000%2C5000\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btc\\\/cad\",\"canadian dollar\",\"flash crash\",\"kraken\"],\"dateCreated\":\"2019-05-31T19:11:07Z\",\"datePublished\":\"2019-05-31T19:11:07Z\",\"dateModified\":\"2019-05-31T19:11:07Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2019\/05\/bitcoin-price-flash-crash-btc-shutterstock_323772509.jpg?fit=7000%2C5000","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/384579"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=384579"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/384579\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/384582"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=384579"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=384579"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=384579"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}