Crypto thread

Hunter Horsely: 

72% of orders on coinbase are buys. Current word from trading desks is institutional selloff due to liquidity needs eg market makers who also make traditional equities / bonds markets need the cash. 

What that shows is the little fish are not moving the market...the little tiny players making up the order quantity are not the size, the size and likely futures are moving the market.

Now I got the "this device is not verified" and I have to jump through photo ID hoops...

Yep you’ll be free to get on the rollercoaster in no time 

This is craziness...so I try the ID through a webcam and it looks good to me but I got the reject email. So trying to upload/drag and neither is working. 

Maybe this is a sign..

Ok hoops jumped.

I am not too thrilled that you just buy at current market price. Are there no sites that allow you to set a limit order? This is just buy X and go...total amature hour opps in my opinion.

Nevermind...I guess the amature hour is me because I did not sign up for Coinbase Pro which has limits. I guess I gotta check this out and see how I can do that.

Well I guess the pro version is instant if you have the main acct...only problem is that getting money there is a headache, either transfer from Coinbase or from bank wire...either one has a long hold time. I transferred money to Coinbase and its there but some silly 6 day hold so I either just baby sit and watch then buy on Coinbase or wait until the hold is done and transfer to the Pro platform.

If it goes to 5500 and I am watching I will buy my first lot...

Just buy it 5600 5500 same thing 

Kucoin, Binance, Huobi etc are better for placing orders 

But if coinbase has what you want you just look at your phone every second you’re awake and buy when you see fit like the rest of us 

If I had done my homework I would have known I wanted the pro only not the basic and then deposited funds and had the stupid thing cleared already. Its ok I have the pro up and showing but dang if the font isnt so small...its interesting the players are all micro size, that is all the volume. On the right side it shows the time and sales like brokerages have and the lot size. So its all .01 .04 .1 .03 sizes...which means the little fish are scrambling but the real pain or gain comes from the big size players...not the little fish.

Oh those are all usually manipulated and fake on most exchanges. You never know. That’s another thing. Coinbase might be real. 

You cant be so picky. Just buy and watch your net worth go down like the rest of us. 

Sometimes your portfolio will go way up. But don’t get too excited because it will then go way way way down again. 

Yeah for some reason I am not feeling like just tossing it in there...too many catalysts for further drop. If 5500 comes ok before it is too late tonight, if not Ill wait and if 5555.65 or whatever is the bottom then I guess I missed it by a few bucks.

This is a risk play, if this goes up and I dont get in then I will risk play some oils or energy in my brokerage acct. I'd like to see 3500 again and get a few BTC and while 5600 is nice its not 3500 where I would be quite motivated. Last time I wanted 2500, that didnt happen and I was miffed but its got reason to drop more so I would rather be careful and take time vs buying this second.

Well I had to log back in and reboot due to computer not engaging and I was able to get one lot at 4790 plus stupid Coinbase fees.

This heavy sell volume makes me think it goes lower still, but if so I will nibble and add to my position.

Oh and this buy and wait for confirmation crap is not for me, if I get more I will send money to the pro side and go that way with a limit order...the coinbase platform is for idiots.

Easy money 

Almost $1 billion liquidated on BitMex today 

yeah the volume is SUPER heavy, and it is interesting how on Forex Live their quotes and charts are way off the current action on Coinbase Pro...hundreds of dollars off.

Someone big needed money or maybe some margin calls on long positions. I was tempted to buy some LTC but I am going to sit tight instead and see if prices go lower to add another BTC lot..

S&P down 10.3% from 2,762 to 2480

BTC down 45.2% from 8,500 to 4,660

My girl: what’s wrong with you today, you seem off 

Me: oh nothing, just tired 

Sorry but that was very funny. I know anyone who gambles/trades has said these exact words.

I saw that South Korea went limit down on their markets already...might be part of what is going on with selling since the Asian markets are just going and if margin calls are there then this is the time people clear up funds.

Smells like 4k isnt far from hitting....selling super strong.

You’ll be rewarded for having the balls to step in and buy down here 

Well done 

Bought more ETH just now 

Officially out of ammunition 

CRAZY CRAZY DAY! 

Yeah that was a HUGE move off 3950, it was like the switch got turned on and the buyers took over...even more so with some others like LTC, it went from 25ish to 34 in like 10 minutes.

Sentiment has turned but it could turn back again lets see how it goes during the night. I wish I had waited and maybe got 2 below 4000, but that drop under 4 was like 2 minutes only and it was gone.

I hope that was the bottom 

BTC halving in 59 days