Hacker attack on Coinrail has nothing to do with the fall of Bitcoin prices

The current fall of the stock market most news publications associated with the hacking of a South Korean exchange Coinrail. In fact, however, a problem occurred due to manipulation and panic sinks cryptocurrency inexperienced investors. It is reported Bitcoinist.

Exchange Coinrail nothing to do with it

After a long lull, market makers finally began to be active. Last week the capitalization of the stock market fell by $ 42 billion. The Bitcoin lost more than half of its value last year at this time.

Multiple publications on the Internet were quick to tie the drain of the crypt with the hacking on the South Korean stock exchange Coinrail. However, the marketplace has little or no impact on the market – it is on the 90th place in terms of trading. In an interview with Bloomberg head of Asia Pacific at Oanda Corp Stephen Innes blames penitsillinov.

People follow the logic of “if just happened And then it just happens B” and so on. They freaked out because someone is selling the cryptocurrency. The number of such traders is very easy to “round up” their positions. Trading volume on the market is so small that for sharp price movement it is not so much money.

Low liquidity is actually a long-standing problem of the stock market. Thanks to her, even a trader with a capital of 1000 bitcoins can significantly influence the mood of all the players. Inexperienced investors catch the wave of panic, thinking that plums are hiding some fundamental factors.

Thus the manipulation of the market does not always cause discharges. In this we have seen 12 April, when the Bitcoin price suddenly shot up to $ 1,000 in just a few tens of minutes.

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0 Comments on “Hacker attack on Coinrail has nothing to do with the fall of Bitcoin prices”

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