Two months ago, a trader placed an order to buy Bitcoin at $11.1 thousand on the trading platform. On October 21, thisthe order was triggered as a result of an algorithm error on the site.
The crypto investor reported on Reddit that on October 21he managed to buy one bitcoin for $ 11,100. The trader explained that two months ago he placed a limit order to buy one bitcoin for $ 11,100 on the Binance US exchange.
On October 21, there was a failure on the trading platform,due to which the Bitcoin rate dropped to $8.2 thousand. At this moment, an order to buy an asset that was placed by a crypto investor was triggered. After this, the price of the first cryptocurrency returned to its previous values. On October 22, Bitcoin is trading at $63.6 thousand.
Later, Binance US explained that the reason for the sharp decline in Bitcoin by almost 90% was an algorithm error. The failure was reported to representatives of the trading platform by one of the institutional traders.
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