[Daily Discussion] Wednesday, September 05, 2018 Bitcoin Markets |
- [Daily Discussion] Wednesday, September 05, 2018
- [Altcoin Discussion] Wednesday, September 05, 2018
- Goldman Sachs is ditching near-term plans to open a bitcoin trading desk, instead focusing on a key business for driving Wall Street investment in crypto
- Can somebody explain the 415 million USD liquidation on OkEX to me in plain english?
- Has anyone made money using Technical Analysis (TA) ? Does TA actually work ?
| [Daily Discussion] Wednesday, September 05, 2018 Posted: 04 Sep 2018 09:06 PM PDT Thread topics include, but are not limited to:
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| [Altcoin Discussion] Wednesday, September 05, 2018 Posted: 04 Sep 2018 09:06 PM PDT Thread topics include, but are not limited to:
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| Posted: 05 Sep 2018 06:36 AM PDT Business Insider is reporting that "Goldman Sachs is putting on hold plans to open a desk to trade cryptocurrencies, including bitcoin, according to people familiar with the matter." Article URL: https://www.businessinsider.com/goldman-sachs-retreats-from-launching-crypto-trading-desk-2018-9 From the article:
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| Can somebody explain the 415 million USD liquidation on OkEX to me in plain english? Posted: 05 Sep 2018 01:26 AM PDT Hello - I am trying to understand what happened exactly on the 31st of July when a position worth of 415 million USD got liquidated on OkEX. Can somebody please explain to me in plain english? What I understand is that this person had 4,15 million long contracts on Bitcoin, each worth $100, making the total value 415 million dollar. My first question is: what did he buy? Did he buy contracts that settle on a certain date for the given price (futures)? Or did he simply buy Bitcoin? My second question is: I assume there was leverage in play? What was his leverage in this position, x10, x20? x20 seems to be the highest leverage available on OkEX so I then conclude that his bet was at least privately funded for about 20 million usd? From what I understand, the price sank afterwards. I guess it sank 5% and therefore triggered liquidation if he used a leverage of x20. OkEX now tries to sell everything he longed in order to take the borrowed amount for the leverage back. But the market is not liquid enough to completely fill this order. Im still not sure what we are talking about at this point, Bitcoins or future contracts, so I don't know what the market looks like. If its Bitcoin, I guess they can just market sell the rest and the losses will be limited and their insurance fund can cover for it. If its future contracts, idk, who the * buys that stuff anyway? I guess you need to sell those future contracts at the liquidated price, meaning other people would bet at that point that the price from that moment on until expiration will increase. We're probably talking futures, because that would make sense if the counterparty of the contracts will eventually pay for this 'social loss' by sacrificing an amount of profit. So what about the theories circling around right now? I guess a huge 'future contract sell wall' has appeared on OkEX at that time. OkEX tries to get rid of lets say 380 million contracts at a price of 6,000 USD per Bitcoin. But if the price continues to drop nobody will obviously be interested in these contracts as they will probably sell with a loss on expiration date. Am I right about this? And if yes, how does this influence market prices, and how can somebody use this to push the market into one specific direction? Would be nice to see someone explain, trying to learn here! :) [link] [comments]  |
| Has anyone made money using Technical Analysis (TA) ? Does TA actually work ? Posted: 05 Sep 2018 03:41 AM PDT Share your experience of using Technical Analysis. Does it really work ? If not, what can we learn from each other ?My personal use of technical analysis….my first step is studying the fundamentals like technical development, team, marketing, and others. Then, I use technical analysis as my entry point. For example, when the market is overbought as indicated by RSI and MACD, I will be patient and wait for the next entry point. But I am still bullish based on the fundamental analysis. I am still learning more TA. Hope we can learn from each other. What is your experience ? [link] [comments]  |
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