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Bug or Mistake? Trader Pays $82,000 for One Bitcoin


Bug or Mistake? Trader Pays $82,000 for One Bitcoin Blockchain, Featured, Home CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

An anonymous bitcoin trader paid $82,000 for a single bitcoin, momentarily spiking the price of BTC on the cryptocurrency exchange Binance. 

According to a report by Decrypt, an unknown bitcoin trader has created a stir in the investment community after paying nearly five times the average market price for a single BTC. The trade, which community members are attributing to either a bug or unfortunate user error, momentarily caused the price of bitcoin to surge as high as $82,000. 

Binance’s BTC/TUSD chart shows the anomalous trade occurring at 1am EST on November 17, when the price of bitcoin was trading for $16,600. A single trading wick sprouted to $82,000 over the course of the 60-minute window, returning to its original price at the conclusion. 

Other trading pairs for bitcoin, including USDC, DAI and USDT were unaffected by the sudden spike in market price. 

The report claims the trade was likely the result of an error, as evidenced by the stable trading volume when the transaction was executed.

Real traders would have been forced to sort through a steady row of market orders before causing the price to surge by 400 percent. Binance has logged similar blips in the past that were also attributed to a computing error or glitch. 

The cryptocurrency exchange declined to comment on the nature of the trade. 

Featured Image Credit: Photo via Pixabay.com

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