Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

Bitcoin Crashed – Panic Sell Button Pressed

1 min read

February 14 Update

Bitcoin Today again lost its weight and tested a low of 311 BTC/USD. And the charts look like the melting iceberg.

Bitcoin Update

[wp_ad_camp_5]

 

Bitcoin 5min charts
Bitcoin 5 min charts

Bitcoin the Virtual Crypto currency in the last two days falled heavily from 900 levels to sub 700 levels and looks like some one had pressed the panic sell button. Mt. Gox, one of the world’s biggest Bitcoin trading exchanges, has temporarily suspended all Bitcoin withdrawals with immediate effect as the team seeks to resolve technical issues experienced by many users while withdrawing Bitcoin.

Information from MT Gox site reads,

Dear MtGox Customers,

In our efforts to resolve the issue being encountered by various bitcoin withdrawals, it was determined that the increase in the flow of withdrawal requests has hindered our efforts on a technical level. To understand the issue thoroughly, the system needs to be in a static state.

In order for our team to resolve the withdrawal issue it is necessary for a temporarily pause on all withdrawal requests to obtain a clear technical view of the current processes.

We apologize for the sudden short notice. All bitcoin withdrawal requests will be on pause, and the withdrawals in the system will be returned to your MtGox wallet and can be reinitiated once the issue is resolved. The trading platform will perform as usual for the needs of our customers. 



Our team will resolve this problem as soon as possible and will provide an update on Monday, February 10, 2014 (JST).


We deeply apologize for the inconvenience caused, and thank you for your kind support and considerations. 


Sincerely,

The MtGox Team

It should be noted that Mt. Gox is a popular Bitcoin Exchange that allows Internet users to trade real-world currency for Bitcoin and vice-versa.Bitcoin EOD charts suggests more downfall as the panic kicks in and the current fall is more of a vertical one

Bitcoin Daily Charts
Bitcoin Bubble

Rajandran R Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in)

ChatGPT4 Interpretation About USDINR Price Action Analysis

I'm impressed by the analytical and reasoning capabilities of ChatGPT4, which inspired me to evaluate its image-processing skills, specifically in interpreting basic candlestick charts....
Rajandran R
2 min read

Simplifying Money Transfers: The New IMPS Rule

In today's fast-paced world, the ease of online money transfers has become an indispensable part of our financial lives. Whether it's paying bills, sending...
Rajandran R
2 min read

Technical Analysis: USDINR Trading Range Breakout and RBI’s Monetary…

Since October 2022, the USDINR currency pair has exhibited a notable compression in its trading range, with a significant resistance level observed around 83....
Rajandran R
1 min read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More