Torrent Website Offers Users Rewards for Cryptocurrency Mining

Tue Oct 10 2017
Jim Andrews (525 articles)
Torrent Website Offers Users Rewards for Cryptocurrency Mining

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.

 

Many people rightly pointing out that dip in #Bitcoin only on CoinDesk. Brave New Coin and CryptoCompare both showing no ‘flash crash’ $ BTC pic.twitter.com/bHzKI0a5jT

 

Jim Andrews

Jim Andrews

Jim Andrews is Desk Correspondent for Global Stock, Currencies, Commodities & Bonds Market . He has been reporting about Global Markets for last 5+ years. He is based in New York