Have you tried capturing the web socket feed to see if it’s just a UI issue?
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More likely to be positive price upon Fleming, whether substantial, hype, or both. Much less likely to be a dip; even if there was one after something goes wrong, the confidence of Maidsafe willing to put Fleming out marks an incredible milestone, generating a potentially huge spark in people being interested in the project again, me included, therefore more awareness, press, and education on the matter.
(Crypto going up again in 2020 also seems helpful, as an aside.)
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My guess is this is bots trading in the millisecond range in the following way (exaggerated numbers for clarity):
- Spread is 1000 to 2000
- A buy is placed at 1700 so is not immediately matched to a sell
- Some bot sells into it very quickly and consumes all that order but no more, spread is back to 1000 to 2000
- Another buy is very quickly placed at 1800 but due to spread is also not immediately matched to a sell
- Some bot sells into it very quickly again, so now there’s two sells very close together at 1700 then 1800, which seems backwards in the order but is correct by the chronological placement of trades.
- Repeat to get any arbitrary ordering of prices and buy/sell trades.
I think it’s fairly common for bots to operate in the spread and try to get some tiny advantage there, especially when the spread is wide which it often is on these thin order books.
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High 30k volume on Bittrex but also very strange orders, could this be some form of manipulation?
But also the depth on the orderbook sell side looks a little thin, maybe it is some market maker robot.
Price seems been pushed down on Bittrex. But also HitBTC should give 80-85% in weight on the price.
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Anyone have a clue what is happening on
HitBTC, looks like someone or something is looking to buy alot of cheap MAID’s. Wonder if this attempt have something to do with the low price. @andyypants I think the whale/whales might have been found.
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I am a bit skeptical of hitBTC volume being real. But if so, glad to see they still want to play!
To me it seems strange that if you look at coingecko exchange ranking, HitBTC only shows about 10% real volume of total volume, but if you look att Maid HitBTC volume it seems to show 100% volume and not discounted to 10%.
If 90% are fake then it seems like they might could play with the price?
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@andyypants
Continuing from the other thread, you say polo trading was not that high @1500, that was my point in saying that
And just because I wont sell certainly does not mean I should buy. I’m over invested, does not bother me or cause me to lose sleep, I made my bed and am happy to lay in it.
If I had more available funds I probably would invest more, but I have not.
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Its never good to be overinvested. I used to make that mistake often as a newbie trader. Just like oh man it keeps going down so I will just keep doubling down until we find the floor. Sometimes it works but its high risk at that point. It’s often easier to justify “sleeping in the bed you made” then it is to say ok I made a mistake and now I am gonna take a step back so I can later take two steps forward. These days I always keep a stop loss where I would be sad but not totally rekt. That way at least I get more tries to play again.
As for the ChainRift market I don’t think we are seeing the true supply. It’s not all people HODLing because they are in the red anyways. On polo there seemed to be no limit like that to how low it could go; there would always be liquidity on the sell side. If it’s really a supply/demand thing we should see people scrambling to buy what there is. Its not that though; its that the whole market is smaller. That’s why I am saying we need to bait the whales back. I would actually predict a higher long term price just cause the market is much bigger with them involved.
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I get what your saying, but whales will play where they want when they want, maybe its having no stable coin to move into, or lack of trust for new ish exchanges, probably multiple reasons for each whale.
As for trading, I nvr use stop loss, purely because I’m happy to hold btc or maid long term, so theres no point putting a stop loss on my maid, to change it to btc as I’d just need to rebuy maid, possibly rebuying for more than my stop loss sold at.
As for being over invested, I started with 5k that I put into butterfly labs asics, that 5k has multiplied over and over, I’ve cashed out many multiples of that and still hold a smallish amount of crypto, so it’s all relative, when im playing with profits and not money earnt the hard way, I can justify being over invested easily, especially in maid.
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I am also “playing with profits” but I don’t consider them free lottery win money. I consider that money I earned the same as if I worked hourly for it. Hence I won’t sit in something I think is going down. That’s why I exited MAID on polo delisting announcement. I mean the fundamentals are great; I love the project…but losing a major market is going to effect the price. Turns out I called that one and am now buying back in slowly for a substantially lower price then where I exited.
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You have just highlighted why there is weaker demand from investors, which is the point I keep making. Investors move the price in a sustainable way, as they bring sustained demand.
I suspect that poloniex pulling the plug was the last straw for some investors and it will take positive news to bring them back.
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If you are implying that traders don’t I disagree. Sure they buy then later sell, so individually their net push on price is zero. However, as a group not everyone is selling at the same time. Since there is no way to short right now they are either pushing up or doing nothing. In the chaos of them all doing different things there will always be some pushing up. The bigger the market is the bigger this “random” push is.
That’s why I say we need to attract the big traders to chainrift. Show them enough liquidity to make it worth their while. People always talk of these whales like its hurting them to have the whales around. Now that they are gone of course the average price is lower. For some reason hardly anyone is getting that it is mutually beneficial to have these guys trading to.
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Technically the loan offer to maidsafe is a 20 million token short.
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You seem to be describing pump/dump by whales and high volatility as being a great thing. I am unconvinced such movements help anyone but traders.
If traders want to bring liquidity to the market and place bets against one another for profit, I am fine with that. Indeed, it is a positive thing for investors to be able to buy and sell at larger quantities without moving the market. I don’t see how this has much to do with investors or Maidsafe for that matter, though.
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I would say the volatility has been much larger without the whales. The range right now is like 1000-1500. It did sometimes get that wide on polo but not very often. If this is the average range moving forward I would expect to see it get really extreme sometimes. On polo if it got crazy a whale would pop up with a big wall to say “there as much crazy as you want to be I will just eat it all.”
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Surely, it is ripe for arbitrage? Granted, the spread isn’t helping, but volitilty should surely attract those traders looking for such things?
If the traders respond, then liquidity will come and spreads will decrease.
Edit: btw, this saying seems appropriate:
In the kingdom of the blind, the one eyed man is king.
In other words, in a small pond, even minows can behave like whales.
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arb is risky right now cause of the low liquidity.
It is indeed a bit of a prisoners dilemma. No one wants to put out a bunch of liquidity and be the only one doing that. Otherwise you risk getting really trapped if someone takes you up on your bid completely. Everyone wants to play but no one wants to go first. To me this is where Maidsafe should take some leadership and provide liquidity on chainrift like they said they would. I think they have the most to gain or lose anyways. If this market is not liquid enough I will just trade DOGE or some such. But for them if no one is playing in the MAID market then they have no funding. I think we will be pleasantly surprised how much more comes out of the woodwork once SOMEONE gets the ball rolling.
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Aren’t you forgetting about Bittrex? I think there are trust issues for whales to move large capital to Chainrift as they are more unknown than Bittrex. I remember you wrote earlier that you would begin small on Chainrift.
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On ChainRift right now, there’s a bid to buy 372k+ MAID at 1040.
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