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    [Daily Discussion] Tuesday, June 02, 2020 Bitcoin Markets

    June 02, 2020

    [Daily Discussion] Tuesday, June 02, 2020 Bitcoin Markets

    [Daily Discussion] Tuesday, June 02, 2020

    Posted: 01 Jun 2020 09:04 PM PDT

    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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    [Altcoin Discussion] Tuesday, June 02, 2020

    Posted: 01 Jun 2020 09:05 PM PDT

    Thread topics include, but are not limited to:

    • Discussion related to recent events
    • Technical analysis, trading ideas & strategies
    • General questions about altcoins

    Thread guidelines:

    • Be excellent to each other.
    • All regular rules for this subreddit apply, except for number 2. This, and only this, thread is exempt from the requirement that all discussion must relate to bitcoin trading.
    • This is for high quality discussion of altcoins. All shilling or obvious pumping/dumping behavior will result in an immediate one day ban. This is your only warning.
    • No discussion about specific ICOs. Established coins only.

    If you're not sure what kind of discussion belongs in this thread, here are some example posts. News, TA, and sentiment analysis are great, too.

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    submitted by /u/AutoModerator
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    2nd June Bitcoin price analysis

    Posted: 02 Jun 2020 01:23 AM PDT

    MASSIVE liquidations

    Posted: 02 Jun 2020 06:10 AM PDT

    MASSIVE shorts liquidation. 132$ million shorts got liquidated yesterday! On BitMEX alone. That's a record... Overall, $350 million shorts got liquidated.

    https://coinalyze.net/bitcoin/usd/bitmex/liquidation-chart/btcusd_perp_lq/

    https://coinalyze.net/futures-data/global-charts/bitcoin/

    submitted by /u/coinalyze
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    Please critique my idea (relies on liquidity)

    Posted: 02 Jun 2020 01:24 AM PDT

    I'm mulling over an idea that would require me to buy and sell USDC/Tether for fiat (USD, Euro, GBP).

    Transferwise currently charges around $50 per 10k transferred with them.

    I was thinking about utilizing the Ethereum blockchain to cut down on fees and offering this as a service to retail customers.

    1. Customer in NZ wants to send 10k NZD to Britain. He'd get around 4.8k GBP at mid market rates.

    2. I take his NZD, buy Tether with it, sell it in the UK for GBP and give him the GBP into his bank, while charging a fee ~$40 or so.

    Issues:

    Lack of liquidity. Exchange fees. Profit comes from volume. Counterparty risk.

    Is this even worth pursuing? I'd like to have it torn apart. Thanks.

    submitted by /u/Elbow_Provisions
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    Bitcoin hits $10,000

    Posted: 02 Jun 2020 07:43 AM PDT

    One of the advantages of cryptocurrency is its independence from political and economical events. However, from time to time we can witness some correlation between BTC price change and things that happen in the world.

    For example, on the 1st of July Bitcoin price hit $10k. This price was expected by a lot of Bitcoin enthusiasts since we saw it once after the New Year. And if the first time corresponded with the beginning of the pandemic crisis, this time we see a clear link between Trump's actions of police mobilization and the price of Bitcoin.

    submitted by /u/SimpleSwapExchange
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