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BitMEX has again problems – cryptocurrency market is showing short-term upward trend

BitMEX has again problems – cryptocurrency market is showing short-term upward trend

Home News BitMEX has again problems – cryptocurrency market is showing short-term upward trend

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Marcus Misiak –
09.10.2018

The crypto currency stock exchange BitMEX has yesterday have again to report a technical problem. BitMEX said on Twitter that the stock market has problems in the connection with the WebSocket. As a result, it can happen that the users of the platform will show a balance of zero. As already in August, the crypto-currency market reacted positively to the failure of BitMEX. Altcoins, such as IOTA, Tron, and Ripple was able to record price gains of about 5%.

Within two months, this is the second failure of BitMEX. Although the WebSocket Problem could be solved relatively quickly. By re-connecting with the WebSocket users had, however, over a longer period of time problems. Many users have reported on Twitter about various restrictions, such as the hold display of orders, the reduction of liquidity or to difficulties, the Live data feed open.

Already in August BitMEX was for some time completely down, as a planned maintenance carried out at the same time the victim of a Distributed Denial-of-Service attack (DDoS) that prevented Logging in, and Retrieving data. At that time, the Bitcoin price shot up at the beginning of the maintenance, within 5 minutes of 6.466 on 6.866 USD. The Bitcoin price jumped almost immediately to more than 7%. Hunter Horsely, the CEO of Bitwise, said at the time that the halt had caused a wide-spread trade to buy to a standstill. BitMEX is currently probably the most popular Margin stock market, the leveraged positions with crypto-currencies gehandeln.

The “BitMEX-Effect”

In the last few weeks, most of the crypto tended to currencies sideways. After the BitMEX-problems were known, rose to some crypto-currencies by more than 5%. Bitcoin broke through broke through the resistance of 6650 USD and recorded an increase of 1.3%. Currently, Bitcoin has a price of $6.660 dollars.

In addition to Bitcoin, the Altcoins significant rate have seen increases of over 5% as a result of the incident. At the time of writing have revised these growth rates but partially. Ethereum is 229USD (+2,2%), XRP at $ 0.48 (+0 %), IOTA 0.59 USD (+2.8%) and EOS at 5.91 USD (+3,3%).

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