[Daily Discussion] Tuesday, April 10, 2018 Bitcoin Markets |
- [Daily Discussion] Tuesday, April 10, 2018
- How I learned to short, the legend of LiveFreeOrDie
- A warning about /r/bitcoin and why the market runs the way it does.
- To all successful shorters here, a cautionary tale.
- Keep an eye on your crypto stats with a hidden mobile notification, read more about it!
- OTC affect spot price?
- Trading BTC/USD on Bitstamp rather than BTC/EUR on GDAX
- Looking for Advice, Bitcoin trades sites?
- Bitcoin, the Biggest Bubble in History, Is Popping
| [Daily Discussion] Tuesday, April 10, 2018 Posted: 09 Apr 2018 09:05 PM PDT Thread topics include, but are not limited to:
Thread guidelines:
Other ways to interact:
[link] [comments]  |
| How I learned to short, the legend of LiveFreeOrDie Posted: 10 Apr 2018 07:46 AM PDT |
| A warning about /r/bitcoin and why the market runs the way it does. Posted: 09 Apr 2018 10:25 AM PDT My name is yum_kaax and while I do not have a long comment history for you to review, you will see that I have enough years and karma with Reddit to prove that I've been a contributing member. The reason why I delete my comment and post history every week is that I've had psychos try to dox me and threaten me online and I like my privacy. If you have any questions about my validity as a Reddit user, try asking over in /r/whatsthisplant, /r/mycology, /r/rush, and even my nemesis, /r/conspiracy, a community of which I no longer go to. I was a bitcoin miner at the end of 2013 and have worked in IT for 20 years. That's enough introduction for now. My point is to explain two issues that affect the bitcoin markets and what is happening right now. First-off, I don't know how many people are aware of this but there is a LOT of active censoring going on in /r/bitcoin. From my own perspective, posts that are negative towards bitcoin (other than some crappy memes), are often removed on the grounds that they don't allow discussion on market price or trends. (That is the excuse provided to me by the mods). However, posts of the exact same caliber, but with a positive HODL outlook, never seem to get removed. So it is important to understand that /r/bitcoin is a biased and censored platform and also gets the most bitcoin user traffic. My point is that users are being fed a false narrative. I'm calling them out after too much back and forth and lame excuses as to why my posts have been recently consistently removed even though they adhere to the rules and provide lengthy and meaningful content. Edit: Look at this link where I prove a top /r/bitcoin mod is lying in this thread about my posts being removed before they can be reviewed and lying about me in general. The second issue is to look at the 7 day line chart on GDAX. You will see something rather interesting happened. The price dropped abruptly to about $6600 and then hovered there for nearly 18 hours without making any wild swings. This is highly unusual for bitcoin. There has been no time in the past 3 months when it had ever been that stable in price. It then shot-up a bit and still remained very stable for about another 12 hours, although not quite as stable. It finally returned to it's standard volatility where we are now, which is surprisingly not very volatile. The insight here, with these periods of stability, tell us that there are two kinds of markets going on: The first market I will call the "background noise", that is, lots of small transactions that occur on a regular basis. These are the people who do bitcoin-for-goods transactions as well as the long term hodlers who are adding a small amount of bitcoin every week into their wallets. This represents that natural volatility, which is pretty minor and not far off from what we see in the stock markets. The second market is the whale market. Persons with large amounts of bitcoin who either sell-off large amounts, buy large amounts, or are moving large amounts back and forth to manipulate the market. They account for the wild mood swings of the bitcoin market over-all and the over-all high volatility that we've gotten used to. The analysis from this is that we have a few good takeaways: First, we got a glimpse of what it looks like to see bitcoin become stable. This is important because we need to know what to expect if it ever heads towards long term stability. It may be a clue down the road for when we hit bottom of this downturn. Second, the whale movements should not be ignored or gotten used to. It tells us that the "background noise" is significantly less than the whale movements. So much so that it barely registers. That means that even if all the good non-whales kept doing what they're doing and supporting bitcoin, they really don't even register. Meaning they do not have enough influence right now to sway the market except for a very long term. That's not meant to disrespect them but for everyone to be aware that the 1% still very much exists in the bitcoin market. Third, it seems that FUD, FOMO, and other social media influences seem to be very strong. We see significantly larger dips and peaks caused by social media than we do by the natural influence of investors. All it takes is one bad article, real or fake, to affect market prices. So everyone must remain vigilant against social media trying to manipulate you. (hint: /r/bitcoin is compromised) Finally, the fact that we got to see these moments of tranquility might mean that we are nearing the end of short term whales who had sold-out in stages. Simply put, there may be less whales now than there were 2 months ago. And that's probably a good thing as I expect more of these moments of tranquility as we near the end of the dip. It doesn't quite mean we are there yet, but it's a sign to look for. It means the whales are mostly fighting among themselves now. Their influence is becoming less and less in the over-all market. What I expect to see is a few more big sell-offs before we hit bottom, but once that happens, it will be tranquil for likely years unless there some crazy new hype that evolves. So that's what I think is happening. I saw this exact same thing unfold, more or less, at the end of 2013 when I stopped being a miner and cashed-out before the fall. I may be wrong, but I think the GDAX chart gives away a lot more information than people have caught onto. As far as me pointing the finger at /r/bitcoin, I hope the mods here permit it because I believe it's a relevant factor in bitcoin price due to the bias there only allowing pro-bitcoin commentary and spreading FOMO. [link] [comments]  |
| To all successful shorters here, a cautionary tale. Posted: 10 Apr 2018 09:45 AM PDT Two months ago, somebody made this post : https://www.reddit.com/r/BitcoinMarkets/comments/7s8umm/how_i_lost_nearly_200_btc_trading_this_past_month/ While you cannot claim this is the bottom with certainty (although it isn't unlikely at all), the behavior of the community reminds me a lot of the run up to 20k but inverted. Of course i'm biased as a long term holder that does not trade that much. So, you know, stay safe, and lock in profits now instead of being too greedy. For a more concrete advice i would suggest to stay on bitcoin and/or fiat, no leverage and look what the market does when it gets to move. [link] [comments]  |
| Keep an eye on your crypto stats with a hidden mobile notification, read more about it! Posted: 09 Apr 2018 11:40 AM PDT CMC Alert app is the name of the mobile app that I developed, it's design to keep the users informed about different crypto stats and to see price alerts - all in a simple way.
The app is using the official API from coinmarketcap.com, and here is why you should at least try it:
Most of the times people thanks for sharing the app because they didn't knew about it, so why would you downvote this? It helps me and other users everyday, why not try it yourself. Thanks!
Here is the Google Play link: https://play.google.com/store/apps/details?id=com.companyname.CMCAlert
Demo screenshots: https://imgur.com/a/mUiPQ - see more in the store [link] [comments]  |
| Posted: 09 Apr 2018 04:27 PM PDT I've read a lot of different opinions on the extent to which OTC trading affects the spot price of an asset, but it's still really unclear to me. Can anyone point me to studies that provide evidence on the extent to which OTC affects spot? Thanks in advance. [link] [comments]  |
| Trading BTC/USD on Bitstamp rather than BTC/EUR on GDAX Posted: 09 Apr 2018 01:30 PM PDT Hello I've had limited success recently trading BTC/EUR on GDAX, often minutes go by without any trade activity at all. Compared to Bitstamp where there are several trades per second on BTC/USD I do wonder if it's worth transferring my dwindling funds there and attempting to trade that instead. I've also found that BTC/EUR appears to be reactive SOME of the time to BTC/USD, in a way that makes some TA unusable. Does anyone have any views on this? [link] [comments]  |
| Looking for Advice, Bitcoin trades sites? Posted: 09 Apr 2018 11:21 AM PDT Hello, I've been finding great use in sites like Localbitcoin and Paxful and was looking for other sites that are working in a similar way, wanted to know if anyone knows something? Any help will be appreciate. Thank you [link] [comments]  |
| Bitcoin, the Biggest Bubble in History, Is Popping Posted: 09 Apr 2018 08:42 PM PDT |
| You are subscribed to email updates from Sharing of ideas, tips, and strategies for increasing your Bitcoin trading profits. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment