If people were doing the same things with stocks, a lot of it would be illegal.
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Who had that Bitcoin target price prediction?
- Thread starter Subway
- Start date
Okay I guess the Bitcoin seppuku through 20k was absolutely haram a topic for page 222.
What say Page 223? Anyone have any input on what the drop from ~$20,300 to ~$19,400 between 6:50UTC and 6:55UTC was caused by? A bunch of algorithms dumping? One whale dumping? The Gamestop hedge fund dumping?
What say Page 223? Anyone have any input on what the drop from ~$20,300 to ~$19,400 between 6:50UTC and 6:55UTC was caused by? A bunch of algorithms dumping? One whale dumping? The Gamestop hedge fund dumping?
The ledge-like drop was probably a liquidation cascade. Because BTC and ETH are considered blue chip assets, lending protocols will allow them to be used as collateral to borrow other digital assets. There is a shitload of leverage unwinding at the moment in the crypto sphere, especially among large VCs that have borrowed on short term scales and are lending on locked long term scales - Celsius, 3AC, etc. Those institutional players have massive debt positions denominated in BTC/ETH from which they have borrowed other assets like USDC, stETH, etc that they cannot easily unwind. When the price of their collateral hits their liquidation point, it gets sold and dumped on the market, lowering the price further, which can then hit other liquidation prices, etc.
Those of you that have been in the market a while remember the June or July 2017 GDAX flash crash, in which a whale set extremely low bids to buy ETH, then market dumped it to intentionally crater the price through liquidations. ETH went from the $300s to $0.10 and back within seconds, the whale made millions of dollars, and crypto exchanges added margin failsafes to prevent a recurrence.
Those of you that have been in the market a while remember the June or July 2017 GDAX flash crash, in which a whale set extremely low bids to buy ETH, then market dumped it to intentionally crater the price through liquidations. ETH went from the $300s to $0.10 and back within seconds, the whale made millions of dollars, and crypto exchanges added margin failsafes to prevent a recurrence.
wtf do you mean what happened? The market happened. You realize it goes up, down, and sideways right?Take a look at this BTC daily chart. We spent very little time in the zone between 19.9 and 28.3. 14 days to be exact. Price moved so fast through this zone, there was not much time for people and bots to buy and sell this area. This area is considered an area of low liquidity.
14 days, BTC went up 42%.
When this area of low liquidity is created, quite often we end up flying through the same zone again on the way back down, and in less time. Now look at same zone again.
7 days, BTC went down 30%.
No support in this area so it's relatively easy for a whale/institution to come in and dump it lower. They do this by opening large short positions with BTC they borrowed from exchanges. They'll market sell (going short) large orders to dump the price like this. They know there is almost no support and can more easily control the price move.
Just because it was 20k which is a psych level does not mean it was major support. Looking back on the chart you can see there was very little liquidity in that area and whales capitalized on the opportunity.
tl;dr for everyone else (I read it several times)
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WTF u takbao, tardbitchcuck? u 2 dum 4 lrn 2 abc's?
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Here is my precise answer to exactly the question you asked, Sharkbiscuit, along with helpful graphical examples. Good day to you, sir.
First line:
WTF u takbao, tardbitchcuck? u 2 dum 4 lrn 2 abc's?
Paragraphs and images:
Here is my precise answer to exactly the question you asked, Sharkbiscuit, along with helpful graphical examples. Good day to you, sir.
Here are more examples of low liquidity zones.
Note how fast we moved through the zone on the way down and on the way up.
Crazy triple / quadruple depending on how you count the last one.
Here's a double, kind of stacked on top of each other.
Sometimes they happen on an angle as well, although less common and harder to ID before the second move happens.
Note how fast we moved through the zone on the way down and on the way up.
Crazy triple / quadruple depending on how you count the last one.
Here's a double, kind of stacked on top of each other.
Sometimes they happen on an angle as well, although less common and harder to ID before the second move happens.
My God, it’s finally happening…r32, he’s …he’s become SENTIENT!
welcome, my new AI overlord. I await your command
welcome, my new AI overlord. I await your command
That cliff drop gotta be 3AC getting liquidated. Celsius moved their liq number down to 13, if we get there it's gonna take a major dump. Deleting my 15-16K bids. Putting bids in at 13, 12, 9, 8, 7. Not interested in shorting it.
typical of someone like youIf this crypto thing goes the other way eventually, I'm loading up on dogecoin next round
you can learn to trade and buy coins with actual utility or invest in
like thatdidn't you learn holding the Tomb/Based bags already?
It's been obvious for a while that 3AC are bad actors, but the sh!t coming out about what they've been pulling on the way down is egregious.
I thought the 3AC bullshit on the way down was memes, psyops and trolling but wow they really did some of that stuff. WILD.
You are the living version of kuno's famous surfing hattypical of someone like you
you can learn to trade and buy coins with actual utility or invest in
didn't you learn holding the Tomb/Based bags already?
this is what you look like when watching other grown men chase objects around in an enclosed space
this is what you look like when watching other grown men chase objects around in an enclosed space
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You're embarrassing yourself
not really, a sensitive softie like yourself might feel embarrassed. I on the other hand couldn't give a fook less
you have no idea of me as a person, quite different from the kinds of people you associate with
and to tell someone how they should be feeling is a typical type of toxic person response
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not really, a sensitive softie like yourself might feel embarrassed. I on the other hand couldn't give a fook less
you have know idea of me as a person, quite different from the kinds of people you associate with
and to tell someone how they should be feeling is a typical type of toxic person response
Your mom just liked my Instagram post from two years ago in Puerto Vallarta. Tell her I’ll put my swim trunks on for her any time she likes
clever quips are not your forte, swing and a miss again
you haven't left CA in years, who you trying to fool
