[Daily Discussion] Tuesday, April 03, 2018 Bitcoin Markets |
- [Daily Discussion] Tuesday, April 03, 2018
- GBTC sold off 172k Bitcoin Gold
- Moon Math Update
- Cryto hedege funds shakeout...
- Reduced Bitcoin Futures "fee" on CME through 5/31/18 (or 3/31/18)
- Do you lose your maintenance margin if you get liquidated or does Bitfinex gives you back the difference between bankruptcy price the execution price of the liquidation ? Who pays if you you the liquidation order doesn't get filled ?
- Bought the Nadex Bitcoin Calls {Weeklies} 5 contracts.
- The Big Divergence?
- GBTC Bitcoin Gold Distribution
- How High can we bounce?
- Technical analysis: Legit or astrology?
- Bitcoin Price Surges 6% to $7,350 as Cryptocurrency Market Gains $10 Billion
| [Daily Discussion] Tuesday, April 03, 2018 Posted: 02 Apr 2018 09:05 PM PDT Thread topics include, but are not limited to:
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| GBTC sold off 172k Bitcoin Gold Posted: 03 Apr 2018 06:23 AM PDT
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| Posted: 02 Apr 2018 03:38 PM PDT Moon Math UpdateGoing longI'm 10x long. 8x stake @7,001. We're in a position where the scenario bears have been trading off of is in jeopardy of being invalidated and we're near the bottom of the range where a move like that would trigger. Not planning on being able to sleep, but I'm probably going to have to leave this open longer than I want. This is a high risk high reward trade. If bear TA is invalidated we're going to see a lot of traders, as a whole, exit the market. That almost certainly changes market composition. A large bulk of traders are probably net bearish on BTC and will stay out of the market until there is a framework they can use to trade against. That should take a long time to work up to. Fundamentals are signalling that BTC is oversold. Moon Math is indicating that the time is right for the market to reverse back up. Rainbow Chart ModificationsThere's been some drift from Azop's original rainbow charts that I corrected today. This happens from time to time. We should be much closer and the charts should be easier to read. I also tightened the 2017 trend chart. We're solidly in the green quadrant of Moon Math charts. It's a struggle to hold back the noob DCA recommendation. Still too volatile, though. the rainbow needed to be moved up to keep it consistent with /u/azop's vision. Azop ran his rainbows from a fixed date using a fixed CDPR of around 0.333%. Sometimes he would change the CDPR. Moon Math introduced a dynamic rate based on observed price performance that pretty much always stays in that range. However, the rainbow will drift up and down from Azop's charts because it's not fixed. I'll correct the rainbow so it more accurately represents his latest chart when major drift becomes obvious or on request. COMPARE Moderate "Buy" RecommendationMeasures for volatility have not improved. I've considered downgrading the moderate buy recommendation to a hold recommendation, but you should be looking at these recommendations when you're considering your own DCA strategy. Volatility hasn't increased that much and we're still holding in a pattern that has a 65% chance of breaking down. If you're goal is to DCA through a potential dip, and your comfortable with taking initial losses, then this remains a good place to slowly add to a position without leverage. Unpublished Noob DCA strategyThe noob DCA strategy has not been issued because volatility is still too high. If your grandmother has been asking about when it's time to buy bitcoin, this is not the time. There's too much risk that the floor will drop out from under us while weekly BBands are this wide in a bear market. The goal is to make noobs feel good about their investments for months, not scare them away with dwindling fiat value, or the constant looming threat of dwindling fiat value. LBC Weekly Global VolumeLocal Bitcoin global weekly volume is continuing to keep pace with long-term trends. 1 billion USD a week by the end of 2019 is an unbelievable projection, but that's moderate to conservative based on these data. We'll probably see these rates of adoption drop as more established and regulated platforms for exchange establish themselves internationally.
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| Cryto hedege funds shakeout... Posted: 03 Apr 2018 07:39 AM PDT Had to to expected - reported huge performance gains in forth quarter last year - but then came first quarter this year :-0 [link] [comments]  | |||||||||||||||||||||||||||||||||||||||
| Reduced Bitcoin Futures "fee" on CME through 5/31/18 (or 3/31/18) Posted: 03 Apr 2018 06:26 AM PDT
http://www.cmegroup.com/education/cme-bitcoin-futures-frequently-asked-questions.html or http://www.cmegroup.com/company/files/cme-fee-schedule-2018-01-01.pdf [link] [comments]  | |||||||||||||||||||||||||||||||||||||||
| Posted: 03 Apr 2018 08:16 AM PDT 15% seems to be A LOT. I know that with BitMEX they take all your maintenance margin in order to send aggressive liquidation orders but the maintenance margin is only 0.5%. If your liquidation is executed at a better price than your bankruptcy price the leftover money is sent to the insurance fund and you don't see it back. With Bitfinex, the maintenance margin is 15% ... what happens if you get liquidated and the executed price is better than the banruptcy price ? With 15% to play with, i assume that most of the time the liquidation engine doesn't need the whole 15% in order to get filled ... Then what does it do with the rest of the money ? Do you get it back it or does Bitfinex keep it for themselves ? And even though it is unlikely with 15% leeway, who pays if the liquidation engine can't get the order at the bankruptcy price filled ? The one providing funding ? Or Bitfinex ? [link] [comments]  | |||||||||||||||||||||||||||||||||||||||
| Bought the Nadex Bitcoin Calls {Weeklies} 5 contracts. Posted: 03 Apr 2018 07:31 AM PDT Thinking BTC will stay above the 7300 EoW. Trade image on stocktwits @avede 09:28:53 GMT-0500 (Central Daylight Time) [link] [comments]  | |||||||||||||||||||||||||||||||||||||||
| Posted: 03 Apr 2018 03:35 AM PDT I have to admit, I like what I'm seeing despite all the carnage going on because: 1) I'm dead on the inside ... but most importantly... 2) a lot of crap is being flushed out of the system When it comes to #2, it's worth pointing out that we've fallen to near the February panic sale low BUT with one important difference... the BTC market cap dominance rate has gone up quite a bit. Don't know about you guys but this, to me, is a very good sign, 32-33% to 45.5% says a lot and in my opinion, this might be a "big divergence" situation, ESPECIALLY if a global financial crisis or another exogenous shock manifests itself. With all the bulltard craziness, it's easy to lose sight of the fact that back in 2009, bitcoin appeared in no small part as a solution to people's growing frustration with the status quo. Banking system, central banks, you name it. Essentially, it was at least partly meant to be a hedge against shtf situations and with that in mind, you'd think that the next global financial crisis will be a good thing for bitcoin. An opportunity for it to prove itself as a safe haven asset. BUT ... and there's a big BUT here. Most altcoins (99%+) don't belong in this scenario. A banking panic, for example, may very well prove to be just what the doctor ordered for bitcoin. But for dentacoin? Or friggin tron? I don't think so. Again guys, the big divergence I'm thinking about: markets down, bitcoin (and maybe 3-5 of the best alts) up, most altcoins way down. Dunno why but in today's environment, I'm thinking more and more about this. [link] [comments]  | |||||||||||||||||||||||||||||||||||||||
| GBTC Bitcoin Gold Distribution Posted: 02 Apr 2018 11:23 PM PDT So the good news is that GBTC will distribute Bitcoin Gold funds sometime soon, but the bad news is that Segwit2x distribution has instead been abandoned. Folks who had GBTC on December 4th will receive $0.056478 per share. PR release https://grayscale.co/bitcoin-investment-trust/#resources [link] [comments]  | |||||||||||||||||||||||||||||||||||||||
| Posted: 03 Apr 2018 01:34 AM PDT Hi traders, I have my first selling targets set at $7500, still biased towards a bearish market though. Here's why: https://steemit.com/cryptocurrency/@tradealert/bitcoin-market-how-high-can-we-bounce Do you think this bounce is the beginning of a reversal? Cheers, Dan. [link] [comments]  | |||||||||||||||||||||||||||||||||||||||
| Technical analysis: Legit or astrology? Posted: 03 Apr 2018 12:18 AM PDT | |||||||||||||||||||||||||||||||||||||||
| Bitcoin Price Surges 6% to $7,350 as Cryptocurrency Market Gains $10 Billion Posted: 02 Apr 2018 11:45 PM PDT After recording a rebound from $6,500 to $7,000 on April 2, the price of bitcoin has surged 6 percent again today, on April 4, as the entire cryptocurrency market recorded a daily gain of $10 billion. While several smaller cryptocurrencies like Steem and VeChain have outperformed bitcoin with a 50% and 25% increase in value, major cryptocurrencies including bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, and EOS have performed generally well over the past few days. [link] [comments]  |
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