16 Aug '12, 1pm

Trading Bot Runs Amok on MtGox #bitcoin #trading #bot #mtgox

Trading Bot Runs Amok on MtGox #bitcoin #trading #bot #mtgox

Several weeks ago, there was a large one-day spike in Bitcoin’s price volatility, as a series of sudden sell-offs sent the MtGox price oscillating within a range of $7.3 to $9.5, an event which pirateat40, operator of the Bitcoin Savings & Trust high-yield investment scheme, eagerly took credit for at the time. Now, it appears that there has been a less dramatic, but much more sudden, spike in volatility on MtGox, jerking the price between $12.64 to $13.84 over the course of twenty minutes. Volume spiked from an average of 14 BTC per minute to a high of over 1000 BTC per minute, and the top price of $13.84 that the volatility brought provided the Bitcoin price charts with a new high, the likes of which it has not seen since July 31 last year. In the world of traditional finance, trading bot malfunctions are nothing new. Two weeks ago, a malfunction in a trading algorithm o...

Full article: http://bitcoinmagazine.net/trading-bot-runs-amok-on-mtgox/

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