​BTC price grows by 4 percent while BitMEX goes offline

​BTC price grows by 4 percent while BitMEX goes offline
Aug 22, 2018 by Rico Wise

During the day, BTC price has grown by over 4%, earning 300 USD within a short span of time and reaching the level of 6,700 USD.

Specialists have connected such a sudden price growth to a brief offline period expreienced by the BitMEX cryptoexchange, which is famous for enabling its customers to trade both BTC and ETH with leverage against the USD currency. While financiers were unable to authorize on BitMEX and interact with their trade orders, Bitcoin short contracts were able to pull the price of the world’s dominant digital currency up by nearly 4 percent.

Recently, an August 19, the cryptoexchange has warned its customers of a scheduled system maintenance, which was to be performed on August 21. It was performed according to plans, rendering the system offline for a few hours and making traders unable to log into the network and trade.

The system could not resume without a necessary delay, which lasted a couple of minutes. However, customers complained about having troubles to log in successfully after the operations were resumed. Apart from that, the cryptoexchange reports that all maintenance works have been performed successfully and the delays were not too long.

The trading network of BitMEX was completely up and running in a few hours after the maintenance was completed, re-enabling the customers’ abilities to trade and order.

Still, specialists claim that the exchange’s offline period was exploited by large-scale retail traders to boost the BTC price. This confirms the concerns existing with the US SEC concerning the manipulation of the cryptomarket.

Previously, the US SEC has refused approval of the ETF, applied for by the Winklevoss brothers, explaining the decision by the dependence of the fund from the Gemini cryptoexchange.