Bitcoin Thread - 2018

SaiyanZ

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Interesting. About 10k BTC of shorts were closed without going into the orderbook on Bitfinex. Looks like the imminent short squeeze is not going to happen.



Edit: It managed to spook some people:

 
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John Tempus

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If they calculate the crypto withdrawals converted to $ then of course its very possible to have less crypto withdrawals but at higher USD value due to the pump over the last month so the article is kinda silly if you ask me.

ie. 1 BTC would be worth $5400 so if the same person withdraw 0.7BTC today in $ value it will look like more $ is withdrawn than deposited even though there is less BTC withdrawn than deposited.
 

Countcrypto

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If they calculate the crypto withdrawals converted to $ then of course its very possible to have less crypto withdrawals but at higher USD value due to the pump over the last month so the article is kinda silly if you ask me.

ie. 1 BTC would be worth $5400 so if the same person withdraw 0.7BTC today in $ value it will look like more $ is withdrawn than deposited even though there is less BTC withdrawn than deposited.
Very good point.
 

SaiyanZ

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If they calculate the crypto withdrawals converted to $ then of course its very possible to have less crypto withdrawals but at higher USD value due to the pump over the last month so the article is kinda silly if you ask me.

ie. 1 BTC would be worth $5400 so if the same person withdraw 0.7BTC today in $ value it will look like more $ is withdrawn than deposited even though there is less BTC withdrawn than deposited.
It says there in the article. Inflow vs outflow in USD over the last 5 days. $622mill was the net outflow. Does this happen in a bullish market?
 

Countcrypto

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It says there in the article. Inflow vs outflow in USD over the last 5 days. $622mill was the net outflow. Does this happen in a bullish market?
It would seem it does, as the market is extremely bullish.

See 8k was broken again now at the start of the west coast volatility hours. Ominous for those in short positions.
 

Countcrypto

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Dude I wont be responding to your posts as you're just a 2017 FOMO noob from your posts. So don't bother quoting me.
Salty. No need to get personal. I mostly hold alt coins and only bought into btc when it broke 4200. I always followed btc thought as the alts I hold are so tethered to it.
 

John Tempus

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It says there in the article. Inflow vs outflow in USD over the last 5 days. $622mill was the net outflow. Does this happen in a bullish market?
Fair enough I didn't read the full article. They didn't mention which exchanges had the bulk of the outflow but looking at the last 5 days how Bitmex had a massive premium over bitfinex,binance,bitstamp the article point is still rather moot because it could be Bitmex withdrawals that is pushed to Bitfinex/kraken/bitstamp in order to do arbitrage where btc and other altcoins were priced proportionally lower.

That said they only mention that USD withdrawals is more than the USD value of deposits in the last 5 days which would still happen if deposit of 1BTC were made on May 11 for $6300 then on May 16 withdrawal of 0.9BTC at rate of $8000 would be worth $7200 . The point I was making is that from a crypto movement the outflow is less than the inflow but when converting the USD value it looks like there is more outflow than inflow just cause if the rally. So as you can see in my example for last 5 days the withdrawal in crypto is 10% less but the USD value difference is 12% more withdrawal in USD. Even if you average out the daily price over the last 5 days this would still apply due to the constant higher price each day.

If they provided a breakdown of value that moved out from each exchange it would be a bit more informative.

As much as everything looks bullish right now I am also not about to get blindsided and one wrong bit of news in this crazy market can plummet the price in an hour down to $7k. I think the moment the pump pressure cools down and we start seeing real sideways down movement there will be a sudden big dump bar hitting the market.
 
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Swa

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It would seem it does, as the market is extremely bullish.

See 8k was broken again now at the start of the west coast volatility hours. Ominous for those in short positions.
Or it's just BTC being manipulated as the market has shown no signs of bullish behaviour and is still in the red for most crypto investors. Seems to me like you're very much part of the crowd trying to pump this to the detriment of most people.
 

SaiyanZ

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@SaiyanZ

I hope you managed to hit those shorts to get out of danger with the super dump that occurred.

When I saw it I thought here comes your life saving dump. :)

Yeah, this will save me even if we go to like $10k now. Two accounts closed in profit but the other three didn't get hit. Though with this I can long to hedge and add margin if I get close to liquidation.

Was hoping to long as well from $6500 once those shorts closed though which I couldn't as was asleep. So just making a small long from here ($7300), in case the worst case scenario plays out and it goes straight to $9k from here.

What app do you use for alerts? I use Bitcoin Checker but for the last few months the alarms haven't been going off instantly when a price is hit. If it went off instantly I might have been able to long at $6500.

Also..wtf is going on.. :ROFL:


 

John Tempus

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Yeah, this will save me even if we go to like $10k now. Two accounts closed in profit but the other three didn't get hit. Though with this I can long to hedge and add margin if I get close to liquidation.

Was hoping to long as well from $6500 once those shorts closed though which I couldn't as was asleep. So just making a small long from here ($7300), in case the worst case scenario plays out and it goes straight to $9k from here.

What app do you use for alerts? I use Bitcoin Checker but for the last few months the alarms haven't been going off instantly when a price is hit.

Also..wtf is going on.. :ROFL:



I use tradingview alerts for my static signals and some dynamic ones for my trading strategies.

I think it was just a belated correction that was building up. I thought it might correct between 7000-7200 but also as I noted earlier if it breaks 7000 it is likely to crash through to 6000 which it nearly did down to 6300 on bitmex.

That red 30minute candle of close to $1billion LMAO.

Total will be a big day to determine renewed direction so I won't be surprised if we enter <$7k today and drop down to $6k before a stalemate.
 
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