Bitcoin Suffers Mystery Flash Crash On Popular Index

It looks like Bitcoin had it’s own flash crash Tuesday morning after falling over $600 in a few minutes, yet only one index was able to log the price move.

The cryptocurrency had hit a high of $4,867 a day before, according to CoinDesk.  The same index showed it dropping $600 to a low of $4,200 at around 9:00 AM GMT.

Even though it was down approx 12% for the session, it recovered within moments and by the time of the close it was trading at $4,787.

The CoinDesk bitcoin price index is made up of the average price from four exchanges: Bitstamp, Coinbase, itBit, and OKCoin. Other indexes like Brave New Coin’s bitcoin liquid index showed no flash crash. Nor did CryptoCompare.com.

CNBC checked the four exchanges that make up the CoinDesk bitcoin price index, but none showed any sign of a flash crash. CNBC has reached out to CoinDesk to see whether it may have been a problem with its own index.

Read the rest at CNBC.com

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