Jump to content

What's happening?

Recommended Posts

Today’s (yesterdays) gain was probably triggered by an order worth about $100 million spread across U.S.-based exchanges Coinbase and Kraken and Luxembourg’s Bitstamp, said Oliver von Landsberg-Sadie, chief executive of cryptocurrency firm BCB Group.

“There has been a single order that has been algorithmically-managed across these three venues, of around 20,000 BTC,” he said.

“If you look at the volumes on each of those three exchanges – there were in-concert, synchronized, units of volume of around 7,000 BTC in an hour”

Edited by MKH613
Link to post
Share on other sites

Technically (to me anyway) we were running out of time for sideways consolidation in BTC, and it needed to break either up or down. Until that massive buy, I was guessing it'd be DOWN. 

But blowing through $4200 resistance on high volume was a sign the market has been looking for for months. It might not matter that much that there was some possible shady action. For some of us, it was the confirmation we were looking for that BTC had bottomed.

Link to post
Share on other sites

I just came across this: 


12 hours ago 

For those who still think this move is a simple pump and dump (a manipulation). Some data according to https://coinmarketcap.com/charts/

Over the past two days Market Cap has increased from 145B to 171B USD. The volume traded in these two days is huge.

In fact, we have a new record in terms of volume traded in 24 hours: 

In the past, the highest volume traded in 24 hours was on January 5, 2018 (Bitcoin was at ATH). That day the volume traded was 65B USD.
Today, April 3 marks a record high in the volume traded in 24 hours: 82 B USD.

This data says a lot. This is a healthy growth of the Crypto Market. Such huge volumes are only recorded when there are trend backs. A lot of money has entered this market over the past two days. Big boys have seen cheap prices and have decided to get massive buying. Of course, in the coming days, there may be some corrections for some swing traders or day traders to sell some of their holdings. 

Many of you were wondering where the money was? Here's the money! This massive move will help change the market sentiment and help shape the future bull market. So far we have begun the consolidation period, and this will take a few months, probably by autumn or winter this year. 

Follow the news feeds in the past 24 hours and see that more professionals say the bottom line was hit on Bitcoin (3150) and yesterday is the first day I left the bear market. I will return in the afternoon with new conclusions. In short: these record volumes traded over the past two days confirm a reversal of the trend. Good things come."

Link to post
Share on other sites
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.