Bitcoin hit new highs and then tanked by over $3k on Kraken

Did bitcoin hit new all time highs on your exchange today?

It probably did, but then did it crash by over $3k within minutes?

It probably did not, well unless you are using Kraken:

(Source: https://cointelegraph.com/news/classic-top-setup-bitcoin-price-flash-crashes-on-kraken-after-all-time-high)

This is one of the anomalies that can happen from time to time with all kinds of different exchanges having different trading volumes.

For example, if there are enough sell orders on one exchange, they could pull the price down on that exchange even if there weren't nearly as many sell orders at that price on other exchanges.

This is a short term event though as money eventually flows in from other exchanges to counteract the selling.

For a brief moment though you can get things like this where the selling wipes out the order book for a brief minute before it's immediately bought right back up.

If you are on Kraken, did you buy the dip?

Probably not, but it's fun to dream!