Bitcoin News

Why Bitcoin price abruptly dropped 3% in 30 minutes on OKEx freeze

The news of the sudden drop in the price of the currency has caused an unprecedented reaction with traders across the globe rushing to sell the currency and make quick profits. This sudden drop caused by a technical glitch has caused many to panic in order to prevent themselves from losing their hard earned money. For those who are new to this trade, this article is designed for you to learn why it occurred and how you can prevent it from happening again in the future.

One has recently suffered from a technical glitch, wherein a trading robot, named “Aurora”, began sending signals to a market trader, when it noticed that the price of the currency was about to fall. This caused a chain reaction within the market; and due to the fact that it was a mechanical process, all the information about the market was sent to the trading robots on the other side. This caused the prices to plummet. However, this only happened for one second at a time, and in this time, the currency was never actually taken down.

Although, all trading robots have an edge over the market, some of them have greater capabilities than others. Due to this, a trader might find that their trading robot suddenly stopped working and they need to find out why they experienced a sudden drop in the price of the currency. This is why it is important for a trader to look for signs of technical flaws in the system; these flaws will only be seen when a system stops responding to real time signals.

Since “Aurora” is the trading robot used on OkEx, many traders are trying to find out the cause behind the sudden price drop. One of the most popular theories being offered is that it might be due to the failure of the trading system’s software. Another explanation that many traders believe is that it is because of the loss of several thousand dollars on the market, since many of the accounts involved had more than their fair share of losses. Whatever the case may be, a successful trader is always aware of what is happening on the market and knows what to do when they see an opportunity to make good money.

Although, trading on the market on OkEx is still profitable, it has not been made easier by the sudden drops in the price of the currency. This means that traders should now start making their move right away and not allow the situation to get any worse. before they lose everything.

It is advisable that traders avoid trading on the exchange if possible, since this sudden drop has caused traders to panic and lose their money. To prevent this from happening, they should first analyze the market and find out what is causing this particular glitch, so that they can easily detect it and avoid making the same mistake again.