On the daily XBTEUR chart, we can notice an insane candle jumping up to 20k EUR. Seems there is a high high shadow on the XBTUSD that day too.
doesn't look crazy that day.
Would some be able to explain me what would that mean? Any mistake from a retail trader, like mistyping, or something like that?
You should discard that day from your TA since it is not relevant at all.
Ah, ok, my guess was that it was the day Kraken went online again, but I didn't remember the exact dates... and that it was maybe an accidental buy.
Huh, I guess buyer got mad after that… How could the market price be 20K€ at that time? Even at the highest high in December, the all-time upper top was around 16k€?!
Yes, there were a few unsatisfied people that filed a complaint, I believe.
Market price is determined by exchange as the best price currently offered (buy and sell). So at some point in time there were not other sell offers but 20k which someone bought at. The name "market price" can be a bit confusing since it does make you believe this is the average of assets valuation but in reality it is just the best offer at a certain exchange.
You can read up on it here: https://www.investopedia.com/terms/m/market-price.asp
Ow, BTW, there is something else I do not understand.
1) Since Kraken was offline for a few days before that day (13th), why can we see some trading volume even while Kraken was supposed to be offline?
2) And, is it possible that Kraken itself, or some staff members, set those selling offers to 20K€ just before re-opening, so the "buy at market price" orders get liquidated as soon as they re-open (yeah I know, it sounds like a conspiracy theory… but well… who knows)
1) If you inspect the dates of candles on the chart, you will notice that 12. 1. 2018 is missing.
2) It certainly is possible but I can't provide you with any opinion on the matter since I haven't researched it nor did I come across anyone posting anything about it.
1) ah yes, that's right (y)
2) ok copy that :)
thanks again for your insights!