By now , you should know that much of the crypto media out there is biased. It can be hard to know what the truth really is.
When something like Bitcoin is going up , horrible predictions are repeated , and astronomical projections are offered when it is going down.
I was watching an order book yesterday (this is part of how I learned,) and on the exchange I was using , there was obvious price manipulation. Lets use XRP as an example - the buy section towards evening on Americas east coast became flooded with insignificant buy orders. There were plenty of real buy orders, which outweighed the sell orders , but above , or in between were descending value orders for 5.00 usd increments, tiny differences so as to flood the book. The effect? A buy order for 210,000 XRP is pushed way down - a large sell order comes up and when the two points meet it wipes out the spammed buy orders , reducing the bid price. More spammed micro orders were then added. I have seen it on the other side as well. Upward price manipulation is done in a similar fashion , only in increasing prices, not descending.
Within an exchange this exerts a limited influence , however it is my belief that John Doe up there likely has another whale for a friend doing the same thing on other exchanges. This is only one of the several blatant and obvious attempts at price manipulation.
I have also mentioned before the Asian session effect , now that mining is unviable for most and ASIC's are being sold for scrap. Those sessions have not been kind to Bitcoin , and that is understandable , yet the effect spills over into pre-mined and non-mined currencies , blockchain and not.
The community obsession with BITCOIN is not healthy either. Bitcoin is a marvel of mathematical genius , but it was the FIRST crypto. It hold the most in terms of Market Cap and as such resides atop the list. Yet it can take an hour for a Bitcoin transaction to be processed. Who processes these? Miners. How are they doing mining Bitcoin at these prices??
Remember Blockbuster video rental? How I envied the creator of that company , which was a behemoth at one point. Technology improved however , and people began to stop using Blockbuster. They didn't stop watching films or shows , they switched to more convenient technology. The end of Blockbuster is not the end of media.
If Bitcoin declines for similar reasons , why would the entire market fold? There are decidedly more useful crypto's. Something smells fishy.
When Bitcoin goes down it drags the whole market down. Decoupling would help. Looking at these as an investment , one does not see on the stock exchange Amazon/Apple. They see Amazon/fiat. Decoupling and a maker/taker post model could offset the cost of having to go to fiat to another crypto. And, for those of us paying taxes , you might notice fee's out of proportion in inter crypto trades anyway.
Caveat Emptor.
When something like Bitcoin is going up , horrible predictions are repeated , and astronomical projections are offered when it is going down.
I was watching an order book yesterday (this is part of how I learned,) and on the exchange I was using , there was obvious price manipulation. Lets use XRP as an example - the buy section towards evening on Americas east coast became flooded with insignificant buy orders. There were plenty of real buy orders, which outweighed the sell orders , but above , or in between were descending value orders for 5.00 usd increments, tiny differences so as to flood the book. The effect? A buy order for 210,000 XRP is pushed way down - a large sell order comes up and when the two points meet it wipes out the spammed buy orders , reducing the bid price. More spammed micro orders were then added. I have seen it on the other side as well. Upward price manipulation is done in a similar fashion , only in increasing prices, not descending.
Within an exchange this exerts a limited influence , however it is my belief that John Doe up there likely has another whale for a friend doing the same thing on other exchanges. This is only one of the several blatant and obvious attempts at price manipulation.
I have also mentioned before the Asian session effect , now that mining is unviable for most and ASIC's are being sold for scrap. Those sessions have not been kind to Bitcoin , and that is understandable , yet the effect spills over into pre-mined and non-mined currencies , blockchain and not.
The community obsession with BITCOIN is not healthy either. Bitcoin is a marvel of mathematical genius , but it was the FIRST crypto. It hold the most in terms of Market Cap and as such resides atop the list. Yet it can take an hour for a Bitcoin transaction to be processed. Who processes these? Miners. How are they doing mining Bitcoin at these prices??
Remember Blockbuster video rental? How I envied the creator of that company , which was a behemoth at one point. Technology improved however , and people began to stop using Blockbuster. They didn't stop watching films or shows , they switched to more convenient technology. The end of Blockbuster is not the end of media.
If Bitcoin declines for similar reasons , why would the entire market fold? There are decidedly more useful crypto's. Something smells fishy.
When Bitcoin goes down it drags the whole market down. Decoupling would help. Looking at these as an investment , one does not see on the stock exchange Amazon/Apple. They see Amazon/fiat. Decoupling and a maker/taker post model could offset the cost of having to go to fiat to another crypto. And, for those of us paying taxes , you might notice fee's out of proportion in inter crypto trades anyway.
Caveat Emptor.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.