According to Coinmarketcap, Bitcoin just had a 35% increase in value in just a few seconds. Literally, I just refreshed the page and it went from $1,190 to $1,500. Of course, it’s just a visual bug and nothing more – as Preev shows the exact price – which now is about $1,194.
However, this rumor was enough for the people on Poloniex to go crazy about it. This issue however should be solved soon, as I’m sure Coinmarketcap.com has a great technical team which will focus on this pretty fast. However, is it just a mistake or coinmarketcap.com can see the future? Will Bitcoin grow so much in the future or will fade against Ethereum and Litecoin?
And also, if something like this happens again, what will the traders do? As we can see right now, the all of the top 10 cryptocurrencies are down while the bitcoin is the only one up. Can Coinmarketcap.com influence the traders so that the market will have a severe drop in prices? If all the traders will transfer their altcoins into bitcoin and the bitcoin will reach a market dominance of 90%, what will happend to the cryptocurrency market?
A few of the questions to think about next time this happens. Invest properly.
Later Edit: The issue has been solved on coinmarketcap.com, however – all the top 10 altcoins are down. Also, check TheGCCcoin – some people got crazy rich with it now. And also, don’t panic but think which altcoin can you purchase with a reduced price right now which can went a lot bigger in the future. Profit from the fact that ETH,LTE,XRP and a lot of other great cryptocurrencies are down.