The "reason" 
XMRUSD RIPPED to $339 overnight was because of a hack:
Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M)
Theft address
bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g
Shortly after the funds began to be laundered via 6+ instant exchanges and was swapped for XMR causing the XMR price to spike 50%.
Apparently it was an OG Bitcoiner that had funds on a CEX (Centralized Exchange). The hacker spent upwards of 7 figured in fees across different exchanges to convert the Bitcoin into Monero.
This event is in line with Bullish thesis:
Very public arrests of the Bitfinex and Silk Road hackers from tracing their surveillance chain (Bitcoin) makes it obvious that privacy is of highest value.
Monero has low liquidity: expect more random god candles.
The relative outperformance of Monero versus Bitcoin
XMRBTC continues this year:
XMRUSD RIPPED to $339 overnight was because of a hack:Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M)
Theft address
bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g
Shortly after the funds began to be laundered via 6+ instant exchanges and was swapped for XMR causing the XMR price to spike 50%.
Apparently it was an OG Bitcoiner that had funds on a CEX (Centralized Exchange). The hacker spent upwards of 7 figured in fees across different exchanges to convert the Bitcoin into Monero.
This event is in line with Bullish thesis:
Very public arrests of the Bitfinex and Silk Road hackers from tracing their surveillance chain (Bitcoin) makes it obvious that privacy is of highest value.
Monero has low liquidity: expect more random god candles.
The relative outperformance of Monero versus Bitcoin
XMRBTC continues this year:
"Be to others the person you needed to meet 10 years ago"
Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
"Be to others the person you needed to meet 10 years ago"
Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Discord Trading Community: discord.gg/eDfhKvS5AC
Youtube: youtube.com/c/NoroksNotepad
Twitter: twitter.com/noroktrade
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.