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Weekend bitcoin update

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:

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