[Daily Discussion] Tuesday, November 28, 2017 Bitcoin Markets |
- [Daily Discussion] Tuesday, November 28, 2017
- Bitcoin could 'easily' reach $40,000 by the end of 2018, hedge fund legend Novogratz says
- Our free tool is finished stage one of development. What do you all think? Drag us over the coals we wanna know what we can do better and what you would like to see included.
- Bitcoin almost at $10,000. What's the trade?
- Bitflyer launches Bitcoin Exchange in US
- Blockfolio dead. Successor apps tips?
- Useful bitcoin tools for Google Sheets
- Bitcoin Reaches 5 Figures on CoinMarketCap - 10K Baby! Where to next?
- Exchange differences
- Have you ever been liquidated at kraken?
- Are there any tools that provide the combined price of all of the Bitcoin forks?
- Buy now or wait?
- What's the cheapest way to sweep my wallet in Electrum?
- Im Canadian. Where can i sell my btc?
- Which market should I️ be using to buy bitcoins?
- Bitcoin Gold Faces New Attacks Users Warned For possibilities of Losing Funds from their Wallets
- Anyone here doing the arb game?
- Screwed by Bittrex's random withdrawal limit decrease
- Who trades on the exchanges?
- Ripple haters 101: Food for thoughts
- Is it possible to trade BTC/USD as a European?
- Excel spreadsheet for projecting your crypto profits and your residual holdings
- Tradingview question
| [Daily Discussion] Tuesday, November 28, 2017 Posted: 27 Nov 2017 08:05 PM PST Thread topics include, but are not limited to:
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| Bitcoin could 'easily' reach $40,000 by the end of 2018, hedge fund legend Novogratz says Posted: 28 Nov 2017 04:31 AM PST https://www.cnbc.com/2017/11/27/bitcoin-could-easily-reach-40000-by-the-end-of-2018-novogratz.html The masses are taking notice. [link] [comments]  |
| Posted: 27 Nov 2017 11:48 PM PST Link to our dashboard: https://coinloop.io We set out with the goal of creating an all in 1 cryptocurrency dashboard. I know that I personally open 19 tabs in the morning to look through to catch up and get ontop of what is happening. Granted a few of those are similar for example, 3 or 4 slack channels and 3 or 4 trading view accounts and twitter feeds but we thought there should be a better way. We basically are just looking for any and all feedback! 1) What do you love 2) What do you hate 3) What tool do you NEED integrated to make you use it Thanks Reddit, our developer lives on constructive criticism so by feeding this post your are keeping him alive. [link] [comments]  |
| Bitcoin almost at $10,000. What's the trade? Posted: 28 Nov 2017 09:14 AM PST Bitcoin's been on quite the run since the rough weekend 2 weeks ago, and even since just the other day after taking a slight pause last week. It looks toppy, many longs are sitting on profits, probably getting itchy to start taking some off the table. Normally, I would be thinking the same thing after such a run but just before a huge psychological barrier like $10k, but something makes me think there's still a bit of room to run. I like to look at the margin long/short positions to help me with my trade decisions. Something I've noticed in the last runup over the past few days: shorts have actually increased significantly in the face of the rising price. This in itself isn't entirely surprising, as when prices rise, they tend to look expensive relative to the recent past, and thus, traders will short. But the size of the increasing short position is what's interesting to me. If you look here, note the total shorts and the price from Saturday, just before the recent rally started https://www.bfxdata.com/positions/btcusd Price was around $8200, while outstanding shorts sat at around 15,500. Fast forward to today, and we see that while price has risen to the current $9900, shorts are now sitting at around 25,500, almost 10,000 shorts added. This is significant for two reasons: one, think about what happens when a short is placed. It's a sale in the market. That means that price has risen about 20% in 3 days even IN THE FACE of 10,000 coins sold short. This suggest tremendous buying pressure. To put this in perspective, look at the part of the page that tells how many buys and how many sells happened in specific time periods (1 hour, 24 hours, 7 days, 30 days). Look at 7 days. The last 7 days, there have been 172,000 coins bought at the ask and 161,000 sold at the bid. Now look at the price from 7 days ago, which is around the high $7000's. So all it took to get price from around $7800 to $9900 in 7 days was around 11,000 more buys then sells. Now remember, since we added 10,000 shorts in the past few days, those are 10,000 coins that MUST be bought at some point. And since those shorts are all underwater, you've got 10,000 coins held by some very nervous traders right now, watching the price very carefully with their fingers quivering over the "buy" button. This is setting up for a massive short squeeze before this rally is done. So what does this mean for the trade? It all depends on if Bitcoin breaks $10,000. Every trader has a pain point where they can't take anymore, and often times, traders will place their stops just above resistance (if they're short) and just below support (if they're long). The logic being, if I'm short, and I consider $10,000 to be a strong resistance band (a reasonable assumption) then I'm not going to put my stop at, say, $9995, because I'm expecting resistance to hold. That said, if resistance at $10k breaks, the sky is open, and this thing could run a lot more, and I'm probably closing my short at, say, $10,050 or something. Every trader is going to have their own stop losses, but that said, I've been trading for many years. That experience tells me a large chunk of the shorts that are currently getting squeezed by this rally has their stops just past $10,000. So IF $10,000 breaks, I would expect a large short squeeze to begin in earnest. Remember, all it took for Bitcoin to jump $2000 in a week was 10,000 more buys then sells over that time period. Just think about what that might mean for price if, say, 3000 of those shorts all close in a few hours? You could easily be looking at $500, $600, $700 jump over that time period. THAT SAID.....these type of capitulation events (on the upside or downside) on heavy volume generally tend to signify reversals of short and medium term trends, and I would fully expect the same here. Since corrections are directly correlated to how big the rally was (or how steep the drop) I would look for this one to be a big one. I wouldn't personally be looking to go long again until it hits at least $9000 So TL;DR: Watch the $10,000 level. If that breaks, expect a short squeeze that takes us to the mid $10,000 in a very brief time. At that point, you might think very strongly about going short, or at least taking some profits off the table. IF on the other hand, price tries a few times and cannot break through $10,000 the large short position still comes into play. If that happens, we look for a much smaller correction (maybe down to $9500 to $9600) before the market catches a breath and starts the next leg up. The reason being, most of these shorts underwater would likely not let it go too far down before closing. At this point, if they get a chance to just break even, they'll likely take it. They're now worried more about return OF capital then return ON capital. 10,000 coins that must be bought back provides an awful lot of support for a falling price. [link] [comments]  |
| Bitflyer launches Bitcoin Exchange in US Posted: 28 Nov 2017 09:19 AM PST https://www.coindesk.com/japans-bitflyer-launches-bitcoin-exchange-us-market/ Pretty exciting. About time another major bitcoin exchange opened its door in the USA. [link] [comments]  |
| Blockfolio dead. Successor apps tips? Posted: 28 Nov 2017 12:30 AM PST Blockfolio seems to have given up the gasp. Any suggestions for comparable user friendly apps? [link] [comments]  |
| Useful bitcoin tools for Google Sheets Posted: 28 Nov 2017 09:06 AM PST If you use Google Sheets to keep track of various bitcoin-related things, you will find the following Google Script functions useful. They allow you, for instance, to keep track of the balance of a bitcoin address and the price on various exchanges. [link] [comments]  |
| Bitcoin Reaches 5 Figures on CoinMarketCap - 10K Baby! Where to next? Posted: 28 Nov 2017 03:58 AM PST Check it out for yourselves! I think we're up for some exciting times ahead. With all of the mainstream coverage and the fervour here on Reddit we could very well continue to moon in the short term. On the flip side of that coin (see what I did there?) I'm confident just like a lot of people here that this bubble will burst in the next little while. The question is when? What are you predictions? [link] [comments]  |
| Posted: 28 Nov 2017 09:45 AM PST Why does GDAX typically have a higher price than other exchanges? I thought arbitrage bots pretty much keep this type of thing in check. For example, right now I'm showing 9950 on GDAX and 9872 on Bitfinex. Is this not enough of a price difference for arbitrage profit? And even if that is the case, it still seems odd to me that GDAX is always higher (as opposed to just always different) [link] [comments]  |
| Have you ever been liquidated at kraken? Posted: 28 Nov 2017 09:29 AM PST If you don't want to post about it please message me what happened, and the date you were liquidated. If you're willing to post and talk about it please do. Explain what happened, would kraken let you close your order? Were you forced to take liquidation? Did you add more money to avoid liquidation? And lastly anyone that got liquidated before July 28 2017 definitely message me. If you know anyone that has been liquidated please send them here. Thanks. [link] [comments]  |
| Are there any tools that provide the combined price of all of the Bitcoin forks? Posted: 28 Nov 2017 05:21 AM PST A chart, or something, that gives the sum price of all bitcoin forks over time. With the multitude of Bitcoin forks, I thought this would be a helpful tool. Does one exist, yet? [link] [comments]  |
| Posted: 28 Nov 2017 10:11 AM PST I've been wanting to buy more for a couple weeks now but waiting for it to drop has resulted in saying goodbye to more and more profits. I have been hodling and mining since Dec 2016. Any opinions are appreciated, not sure if I should wait longer or just buy in. I have money to invest, would prob drop 250$-500$. Thanks! [link] [comments]  |
| What's the cheapest way to sweep my wallet in Electrum? Posted: 28 Nov 2017 02:24 AM PST I want to try to redeem and sell my Bitcoin Diamond before they drop to decimals. I'm using Electrum. Is it safer to create a new wallet altogether or just sweeping the private keys will be enough? [link] [comments]  |
| Im Canadian. Where can i sell my btc? Posted: 28 Nov 2017 03:37 AM PST Coinbase doesn't have the feature available up here yet, so I'm looking for a few options as far as selling Eth/BTC/LTC. Very much appreciate it! [link] [comments]  |
| Which market should I️ be using to buy bitcoins? Posted: 28 Nov 2017 09:31 AM PST If I'm only buying bitcoins at $100 each couple of days which market should I be using I started with coinbase but I feel like there might be a better wallet for me. If someone could link me a guide on the different wallets and sites that would be awesome. [link] [comments]  |
| Bitcoin Gold Faces New Attacks Users Warned For possibilities of Losing Funds from their Wallets Posted: 28 Nov 2017 02:34 AM PST |
| Anyone here doing the arb game? Posted: 28 Nov 2017 07:08 AM PST BTC is trading at wildly different prices across the exchanges. https://coinmarketcap.com/currencies/bitcoin/#markets Right now it is $9,949 on GDAX and $10,721 on Bithumb. Anyone have an account with both and just going back and forth? That's a fucking 7% spread! [link] [comments]  |
| Screwed by Bittrex's random withdrawal limit decrease Posted: 27 Nov 2017 12:00 PM PST Thank god my account didn't get randomly downgraded to 0, it now says 0.4 but I still can't withdraw. I haven't had any withdrawals at all since way more than 24 hours. I am trying to withdraw less than 0.2 bitcoin equivalent and I get a message: "Basic account withdraw limit has been reached. Please try again in 24 hours. To increase your limits, please verify your account to the Enhanced level. See this link for more details." This should be considered theft from these insufferable crooks. [link] [comments]  |
| Posted: 28 Nov 2017 04:26 AM PST Is it mainly individual traders or is it dominated by bots and rich organizations? [link] [comments]  |
| Ripple haters 101: Food for thoughts Posted: 28 Nov 2017 04:25 AM PST |
| Is it possible to trade BTC/USD as a European? Posted: 28 Nov 2017 04:05 AM PST I would like to trade both BTC/EUR and BTC/USD, and am wondering whether this is possible on any exchange? [link] [comments]  |
| Excel spreadsheet for projecting your crypto profits and your residual holdings Posted: 27 Nov 2017 07:08 PM PST Long Term Hodler here. I enjoy reading the daily, but I don't trade. I figure there are others like me out there, and thought I'd share something I made to help me plan what dollar values I'll make sales at and forecast how much fiat / crypto I would end up with if I stick to that plan. The spreadsheet allows you to input your hodlings of various Cryptos and input price points and quantities you plan to sell. You can then adjust the "maximum price" that those cryptos may reach and see what you end up with. For example, maybe you have 5 Bitcoin and plan to sell 1 at $10,000; 1 at $25,000; and 1 at $50,000. However, Bitcoin only reaches $27,000 on the time horizon you're operating on. The sale at $50,000 won't be reflected in the realized profits or on the final crypto holdings. And no, these aren't my holdings or my plan in the version of the spreadsheet I posted. Enjoy! [link] [comments]  |
| Posted: 27 Nov 2017 11:22 PM PST In Cryptowat.ch when you draw a trendline in Logarithmic scale, it still holds true when you switch to Linear scale. On Tradingview, if you draw a line in Log scale, it becomes messed up (still straight and doesn't grow exponentially) when you switch to Linear scale, and vice versa. How do I draw lines in Tradingview and have them show accurately in both linear and log scales? [link] [comments]  |
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