Bitcoin 'BearWhale' rattles cryptocurrency world

[KillTheNoise]

https://www.cnbc.com/id/102070437

In an epic battle, bitcoin believers slayed a $9 million BearWhale on Monday morning.

If none of that made sense, here's the skinny: Someone posted a limit order to sell 30,000 bitcoins at $300 each—well below the mid-300s price level the cryptocurrency had been trading at throughout the weekend. In the still-nascent market, an order of that size spooked the market, sending prices plummeting to levels not seen since last November.

Since the incident, bitcoin has risen about 25 percent to $375, according to CoinDesk.

Bitcoin traders almost immediately named the seller "BearWhale," and the name proliferated quickly throughout social media.

[w4ssup]

Man, bitcoin are useless as hell. It's only good if you're doing some illegal shit.

[Youtro]

Man, bitcoin are useless as hell. It's only good if you're doing some illegal shit.

You shouldn't have just screamed out "I DON'T HAVE A CLUE!"

[Gray]

I'm not quite following.
Someone sold a lot of coins very cheap and thusly made the currency plummet causing the so called bearwhale?

[`Rejected]

I'm not quite following.
Someone sold a lot of coins very cheap and thusly made the currency plummet causing the so called bearwhale?

No it actually raised the price of the bitcoin by 25%

[Gray]

No it actually raised the price of the bitcoin by 25%

So what was the giant drop then?

[`Rejected]

So what was the giant drop then?

It doesn't say But it says since the incident it has gone up by 25% so idk.

[Gray]

See that is why I'm confused, I figured the whale would be the giant hole.

[Tsuchiro]

That aint no fkin bearwhale. That is a hairy otter WTF and where the fk did bitcoin defender find a huge fkin rock in the middle of the ocean.

[KillTheNoise]

I'm not quite following.
Someone sold a lot of coins very cheap and thusly made the currency plummet causing the so called bearwhale?

What heppended exactly is the "BearWhale" was someone trying to crash the Bitcoin market by selling a fuck lot of coins very cheap and therefore to prevent the market from crashing there was a scramble to buy him out and stop him before the market crashed completely, After he was bought out the price rose 25% above what he was selling his coins for. The market is still not recovered completely from this.