Quote from: BitcoinXio on October 29, 2016, 01:07:46 PM

Why does it seem whenever there is a rally there is some bad news that happens. At least the exchange isn't to big to cause too much damage.

It's because everything is put in action to push Bitcoin back. It's no coincidence anymore that everytime the price is about to rocket up, that exchanges get "hacked" with a lot stolen coins as result. It's a solid game plan from some very wealthy traders that are making millions of profit each time.

Price pumps up to high levels, they sell, hacked exchanges will cause the price to tank heavily again, they buy back, and basically repeat this same method numerous times. I don't look at this as a bad thing anymore (from a traders point of view) as I anticipate on this to happen where I also sell at nearly the peak, and buy back at the time the price does get dumped down.

2300BTC were lost from an exchange that wasn't really an exchange people were adding much value to. So yes, in that regard we should be happy that this didn't cause a break into the (what seems to be) bull run that we are experiencing.

But in general, another hacked exchange is not something that we like Bitcoin to have in its portfolio, but it did happen. Undecided