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    Wednesday, March 7, 2018

    [Daily Discussion] Wednesday, March 07, 2018 Bitcoin Markets

    [Daily Discussion] Wednesday, March 07, 2018 Bitcoin Markets


    [Daily Discussion] Wednesday, March 07, 2018

    Posted: 06 Mar 2018 08:05 PM PST

    Thread topics include, but are not limited to:

    • General discussion related to the day's events
    • Technical analysis, trading ideas & strategies
    • Quick questions that do not warrant a separate post

    Thread guidelines:

    • Be excellent to each other.
    • Do not make posts outside of the daily thread for the topics mentioned above.

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    submitted by /u/AutoModerator
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    It is extremely likely that the Mt. Gox trustee selling is responsible for the market crash.

    Posted: 07 Mar 2018 07:00 AM PST

    https://www.trustnodes.com/2018/03/07/mt-gox-trustee-sold-half-billion-dollars-worth-bitcoin-bitcoin-cash

    https://www.trustnodes.com/2018/03/07/mt-gox-crashed-bitcoin-trustee-sold-bottom-blockchain-data-reveals

    On December the 22nd, the trustee moved 6,000 bitcoin. That's the big red daily candle above labeled 2, sending price from nearly $16,000 to a brief low of $10,800.

    It appears he gave some time for the market to recover, then on the 17th of January at 3AM he sold 8,000 bitcoins. Crashing the market again.

    He then sells another 6,000 on the 31st of January, but the vast majority was sold on the 5th of February, 18,000 in total. Sending the price to its recent bottom from which it then went on to recover and nearly double as the selling finally stopped.

    This suggests the trustee has sold it all on exchanges, rather than Off The Counter (OTC), sending price down some 75% by perhaps placing market orders.

    The fucking asshole places market orders no less.

    submitted by /u/intertron
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    SEC Divisions of Enforcement and Trading and Markets - Statement on Potentially Unlawful Online Platforms for Trading Digital Assets

    Posted: 07 Mar 2018 08:39 AM PST

    The SEC's Divisions of Enforcement and Trading and Markets published today, 7th of March 2018, a public statement on Statement on Potentially Unlawful Online Platforms for Trading Digital Assets Divisions of Enforcement and Trading and Markets (archived: https://archive.is/HolfD). From the statement:

    March 7, 2018

    Online trading platforms have become a popular way investors can buy and sell digital assets, including coins and tokens offered and sold in so-called Initial Coin Offerings ("ICOs"). The platforms often claim to give investors the ability to quickly buy and sell digital assets. Many of these platforms bring buyers and sellers together in one place and offer investors access to automated systems that display priced orders, execute trades, and provide transaction data.

    A number of these platforms provide a mechanism for trading assets that meet the definition of a "security" under the federal securities laws. If a platform offers trading of digital assets that are securities and operates as an "exchange," as defined by the federal securities laws, then the platform must register with the SEC as a national securities exchange or be exempt from registration. The federal regulatory framework governing registered national securities exchanges and exempt markets is designed to protect investors and prevent against fraudulent and manipulative trading practices.

    submitted by /u/dnivi3
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    Does anyone understand the BitMEX perpetual contract?

    Posted: 07 Mar 2018 08:14 AM PST

    Is there some good resource (video, blog post, ...) that explains the bitMEX XBTUSD perpetual contract? I find it quite complicated with all the fees: funding fee, interest rate fees, premium discount, ...

    How is the contract price linked to the spot price?

    submitted by /u/johnturtle
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    bitcoinity market charts are only showing gdax

    Posted: 07 Mar 2018 09:42 AM PST

    Is anyone else seeing that? I wonder what's going on?

    Reddit is complaining about my post not having enough characters, so filler filler filler filler. Just because a question is simple doesn't mean it's spam, jeez

    You'd think my 6+ year old account with great standing would be exempt from some of the dumber spam controls...

    submitted by /u/Eric578
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    Coinbase Launches Crypto Index Fund

    Posted: 06 Mar 2018 11:46 PM PST

    https://blog.coinbase.com/announcing-coinbase-index-fund-3925fbf548db

    In a turbulent market being acted on by numerous, seemingly-chaotic sources, this seems like a brilliant tactic to convince ordinary folks to ride/speculate on the crypto wave. Realistically, how popular do you think this becomes? Will the investors mainly consist of current traders seeking to diversify a bit, or will they be new traders who wouldn't otherwise have invested as much (or at all)? All hot takes welcome

    submitted by /u/BembridgeScholars420
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    Anyone here using a bitcoin bot in this bear market and making real gains?

    Posted: 07 Mar 2018 06:10 AM PST

    Let us know how things our working out for you and if you have any tips for a fellow trader? Thanks!

    submitted by /u/Tarek360
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    Bitcoin Daily Confirmed Transactions at 2-Year Low

    Posted: 07 Mar 2018 09:08 AM PST

    The height of the cryptocurrency craze in December of last year saw prices soar, causing both aggressive and conservative investors alike to take note. During this rapid growth period, there were whispers of an eventual "crypto bubble" that grew louder as prices increased. While there has been no "burst", cryptos certainly seem to have lost some of their luster. This came to a head in February and can be seen in the frontrunner of the cryptocurrency markets, Bitcoin. Not only has the price of Bitcoin dipped significantly, but so too has the number of daily transactions revolving around it. Average daily transaction figures are one of the key metrics for valuing cryptocurrencies, so large scale movements are worth monitoring.

    At its peak, Bitcoin had a price of nearly $20,000 and reached an all-time high volume of 350,000 daily transactions on December 16th. Bitcoin's performance since then has been less than optimal. Bitcoin's price briefly slid below $6000 and although it has since recovered, the current price point of $11,526 (according to Coin Market Cap) is significantly off of the currency's highs. What is also worth considering is the number of transactions conducted involving Bitcoin. In February, Bitcoin transaction volume averaged 150,000 transactions daily, less than half of what took place two months prior. In combination, these factors certainly seem concerning for Bitcoin's prospects. The question now becomes whether this is truly a bubble, or simply a bear crypto market?

    A qualitative analysis would point to the latter being the case. Prices during the end of last year seemed to be reaching unsustainable levels, causing the market to quickly overheat as Bitcoin prices escaped the reach of the average investor. A price correction, given how rapidly prices rose, was an outcome many elite investors foresaw. As prices fell, more capital poor investors were once again able to invest, creating a foundation of support for Bitcoin. Bitcoin's utility as a benchmark cryptocurrency as well as the blockchain technology underlying Bitcoin are also encouraging factors. Blockchain technology is still in its infancy and yet has been adopted by numerous sizable organizations. This bodes well for the long-term sustainability of many cryptocurrencies, not just Bitcoin.

    submitted by /u/QuantalyticsResearch
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    Miners selling Bitcoins at a discount?

    Posted: 07 Mar 2018 08:53 AM PST

    I've recently heard that miners are selling bitcoin OTC at a 6% discount. Quite curious if that is actually the case and why would they do that instead of selling at exchanges at spot price.

    submitted by /u/allhailneuveville
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    Quantamize Machine Learning 3-Day Forecast for Bitcoin: Buy

    Posted: 07 Mar 2018 06:09 AM PST

    Quantamize has run its proprietary cryptocurrency machine learning algorithms for a basket of cryptocurrencies. Our 3-day forecast "Buy/Don't Own" signals have been updated for recent price, volume and transaction data. For transparency purposes, these signals have an accuracy rate over 60%. This month, we will be releasing a cryptocurrency product on our website for 25+ cryptos allocated into 4+ portfolios. The formal release will include performance data as well the statistics supporting the conclusions of the models.

    submitted by /u/QuantalyticsResearch
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    Exchange issues when traveling to China?

    Posted: 07 Mar 2018 12:01 AM PST

    I'm leaving from the US for Hong Kong tomorrow and was concerned about accessing exchanges. I currently use GDAX but I know you can lose access to your account if they see you log in with a foreign IP address. (This guy was locked out of his GDAX account because he was using a VPN https://www.reddit.com/r/BitcoinMarkets/comments/8119bu/warning_do_not_use_vpn_with_coinbasegdax/)

    Should I consider using a VPN in China to route back to the US to access GDAX? Or are there other exchanges that would allow me to make transactions in both the US and in China? Thanks!

    submitted by /u/Stchiken
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    Crypto Recap March 6: BTC Sellers Take Control, Support at $10k Back in Focus

    Posted: 06 Mar 2018 04:41 PM PST

    Market Summary

    As seen in CoinLive News Terminal.

    A reality check for crypto traders, as the return of Bitcoin sellers sent a reminder of the state of affairs in the market. An environment dominated by unconvincingly feeble buy-side interest as we've been flagging up in recent times, with Google searches for Bitcoin and other related keywords at depressed levels, where a Bitcoin transaction takes one block to confirm and with a network value assigned to Bitcoin incongruent to the number of transactions through the network.

    It looks as though the damage done to the multitude of retail accounts buying into the hype of the irrational exuberance in December has forced many to jump ship on the idea of re-engaging in buying cryptos even at current discounted prices. Throw into the mix the unclear regulatory landscape, and the absence of sufficient institutional capital flows, not yet coming in the amounts to make a distinctive difference, and it's easier to understand why the overall interest in cryptos has been on the decline.

    Scanning through the top cryptos, as repeatedly mentioned, Bitcoin remains the magnet the rest of the Alts complex follows, and as a result, the 6% drop in BTC value led to similar negative percentage moves, with the exception of Vechain, up 4%. The total market value saw a slide from near $470b to currently stand at $440b. Despite the reduction in Bitcoin prices, the asset's dominance holds steady above the 40%, highest in 2018, which firms up the notion of a Bitcoin cycle phase.

    * Headlines below are listed in chronological order, as seen in CoinLive News Terminal

    Top Headlines Industry / Regulations

    Top Headlines Crypto-Asset Fundamentals

    Key Events on Top Cryptos for Mar 7 (Wed)

    • Aion (AION) - Meetup in Cape Town
    • Binance Coin (BNB) - Vietnam Blockchain Week in Ho Chi Minh City
    • BitConnect (BCC) - Livecoin Trading Platform Delisting
    • Cardano (ADA) - Vietnam Blockchain Week in Ho Chi Minh City
    • Ethereum (ETH) - Airdrop Registration for ETH Holders Ends
    • INS Ecosystem (INS) - Retail Week Live in London
    • Nebulas (NAS) - Meetup in Ithaca
    • NEM (XEM) - Vietnam Blockchain Week in Ho Chi Minh City
    • SIRIN LABS Token (SRN) - Commercial Filming in Barcelona
    • WaBi (WABI) - AMA on YouTube
    • Waves (WAVES) - Bitcoin Wednesday in Amsterdam
    submitted by /u/Ivo333
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    Wondering what the mentality of a bitcoin perma bear is.

    Posted: 07 Mar 2018 01:56 AM PST

    Knowing the tech side from a dev point of view and seeing in the end how this can free up so many people and that it forces society to finally outlaw slavery no matter how subtle and collective it may be I wonder who really or rather what type of individual would oppose it and trade against it habitually.

    Honestly perma bears.. I hope you find your way soon cause that path is ugly.

    submitted by /u/vroomDotClub
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    Greenaddress wallet keep founds frozen of people who lost their 2FA, hundred of them

    Posted: 06 Mar 2018 06:04 PM PST

    Bitcoin - Target $28,000 by the summer?

    Posted: 06 Mar 2018 12:44 PM PST

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