Daily: What the FUD China, Giveaways Part #1
Boxmining Daily Sept 10:
1:10 Market Recap
2:05 Ethereum Sets New Throughput Record
3:00 China Spotlight:
What the FUD
Past PBoC announcements
Winter is Coming.
Live with Ivan on Tech - IOTA, crypto around the world
9:00 Giveaway!
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Even if it is true this is irrelevant pric action. BTC is still the product it has always been and the Chinese Gov cannot change that. This is just a market shake up and the weak hands will lose.
Hi @boxmining and everyone. Many thanks to the author again. I am just watching this channel every day - very informative and saves me a lot of time.
Speaking about the current FUD. There is one thing which is not clear to me. I have not seen anything like that before (though I am not a crypto day-trader, so do not watch crypto charts often enough). But it is just interesting , whether the gap I noticed (explained below) appeared just recently because of so many upward and downward fluctuations in a pretty short period of time... Or it happens from time to time and I was not just attentive enough before. I am glad to hear from anyone who knows what is going on, guys! So let's get to my question...
I found this situation a few hours ago:
Why there is such a difference between Bittrex and Poloniex (Steem coin)? Why can't I just buy Steem coin at $1.09 at Poloniex and immediately sell at $1.26 at Bittrex? I know there is no "free money", so should be something I am missing here... :)
There are lots of inefficiencies in the cryptocurrency markets when you have big swings up or down. Gaps like this happen and typically close within a couple of days. It really is "free money" but you have to be quick to capitalize before the gap closes.
Thanks @lucidsenses Sounds really good. Have you ever tried to get profit out of Bittrex/Poloniex gaps yourself? I have not ever used Poloniex as I found some negative reviews on the internet, so I am just interested whether someone tried to earn on this kind of situations already.
I was studying arbitrage situations in some other industries, for example on sports betting markets, etc. I came to a conclusion that it usually has a number of technical/business hidden issues, even with 1-2% of margin. Here we have much much higher potential margin. Can't even believe it is possible :)
I am just going to hold what I got, but if it drops a lot I am going to scoop some more up! Do you think they do insider trading using the rumors and announcements?
Keep calm and buy the dip.
good post
Don't people release that the drop in price is mainly people who trade? If I read the news I know to sell at the current high and then wait until it reaches a low and buy again. The main reason for the drops is people trying to flip a profit rather than panic due to the news.
This was my thought too, many people came late to the cryptomania and there are many cryptoexperts that teach us when to buy and when to sell, so it think it is possible to manipulate the market like that. FUD is also a huge reason for the bear trend, but a lot of us want to make a profit from the trends. We are still in the early phase of the crypto world so this behaviour is just normal.
Btw, love @boxmining videos! Thanks for your work!
I agree with you @adamicelli
You have right, the Chinese government has less impact on cryptocurrency over time to spread those FUD!
EXCL giveaway - awesome :)
Aloha! My only regret for this shakeup is not enough cash to get in on the lows. Hang in there folks...nothing to see here,