On Friday, Asia time, the price of BTC was smashed lower:
At the time I commented I had not seen any speicifc noews.
Over the weekend the info came out (Greg reported here) that it was the old reliable ‘more sellers than buyers’. Specifically:
- 5000 BTC order on Bitstamp (about $39M at the time of the order when the price was trading around $7800), sent the price of bitcoin tumbling lower as the broker scrambled to fill the order
The price rebounded and spent the weekend around 8000USD: