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Question of the Day: What is the ultimate French toast topping?
The Bitcoin Thread
- Thread starter Keeper
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So I had a buy order at R235K which I didn't think much of the last couple of days with the price rolling around the high 200's. Last night just after getting in bed I get a buy notification and think WTF last I checked it was still over R270K. I open the app and see the price is R282K, so in the space of a minut or so the price on Luno dropped from wherever it was down below R235K and back up again to over R280K.
Glitch in the matrix much...
Glitch in the matrix much...
Never mind a few hours, more like R50K in around a minut last night while I was on the app it jumped around like crazy. For a change I profited.
so basically you lucked out to the tune of 30%
SaiyanZ
Executive Member
A few people scored big but there must be loads more that made losses selling when it went down below R280k and then were unable to buy back for cheaper than they sold when it shot back up instantly from R235k. There must have been at least 100 BTC sold on the way down but there was less than 10 BTC or so for purchase all the way back to R280k, which is why is shot back up instantly when people started buying.
Tabac
Honorary Master
It's just plain stoopid to sell lower that what you've bought for 
SaiyanZ
Executive Member
It's just plain stoopid to sell lower that what you've bought for
Yeah it's quite dangerous which is why I didn't sell when it went down to R235k. Anything could have happened after selling for a loss:
- Someone could place an order to buy 10 BTC and hold the price, triggering the rebound once a few jump in front.
- The rebound could start at any moment regardless
- Luno could go down from the traffic so you'll be unable to buy while the price goes back up.
Too much risk. However I new it would bounce around after coming back so I sold/bought at R290k/R275k and then R285k/R280k on the 1st and 2nd bounce. Those bounces are a lot more predictable than the initial drop as we never know how far it will drop.
Dimpie (JIGSAW)
Honorary Master
BCH also crazy high again.
SaiyanZ
Executive Member
Yeah another thing to complicate the trading game. BCH was quite for a few weeks around $1500. Now we have to watch forex plus BCH in addition to normal BTC USD movements. When there are big increases in BCH, BTC usually goes down at the same time as people switch over for gains.
Edit: Looks like the Ripple increase is also playing a part.
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handyman007
Expert Member
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Hodling takes the guesswork out of it...
JerryMungo
Honorary Master
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SaiyanZ
Executive Member
Doesn't seem like. Looking at the depth chart on Bitfinex, all it would take is someone to buy 150 BTC to push the price up $1000. There's way more buy orders than sell orders. The price could bounce back fast at any moment.
Edit: The shape has changed now. Moves so fast.
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MrGray
Honorary Master
Bitpay added BCH to their platform yesterday - they process a chunk of online BTC payments.
SaiyanZ
Executive Member
Both BTC and BCH dropped. Which altcoin is the money going into?
Tabac
Honorary Master
SaiyanZ
Executive Member
Hard to tell from that. It looks like something that's affecting all big cryptos as they all dropped to some extent.
Interesting to see almost all altcoins showing huge gains in the last 7 days. Only 10 out 100 coins have a return below 20% and most are way higher. BTC only had 6.7% growth in comparison.
Vox Populi Vox Dei
High Tory
Cryptowat.ch seems stuck...
$17884 for BTC, 810.91 fo ETH.
$17884 for BTC, 810.91 fo ETH.
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