Crazy BTC dump and BCH pump! Exchanges Frozen
As i have written lately Coinbase will add BCH and.. it did. On the other hand BTC got dumped hard also due to news one of Bitcoin.com owners is selling his BTC for BCH - Emil Oldenburg. We can predict Roger ver also sold another portion.
BTC Dump
The biggest Bitcoin leverage exchange BitMEX got freezed. Site was loading but it was impossible to put new bids. I have seen over 1 million contracts shorting but couldnt catch them for you guys on screens. Here is what ive got fro mthe action.
On flashcrash at Coinbase BTC price touched 14k USD+. Congrats to buyers.
BCH Pump
As predicted Coinbase add gave a pump. Due to amazing arbitrage vs Binance the site got down for now, hopefully, soon it gets back. BitFinex longs are working good.
But theres good thing - if i didnt go down i wouldbt have time to write this post as i kept using this trading trick as long as it was possible.
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Literally a 6K plus gain for BCc this is isnane , I did not know that they sold their coin. It was scary seeing BTC fall over 6K. It was literally like a switch of roles
I saw it exactly coming - before. Here is my proof:
https://steemit.com/bitcoin/@the.privatier/12-important-things-you-need-to-know-when-deciding-about-investing-in-bitcoin-cash-or-bitcoin
Mainstream newspapers in the Netherlands and Belgium wrote an article about Emil Oldenburg titled as:
De oprichter van Bitcoin verkoopt al zijn bitcoin
Translation:
The founder of Bitcoin sold all his bitcoins
I am already long time in BTC and never heard this name and certainly he is not the founder of bitcoin! What a bullshit FUD and why the hell are so many people so stupid / brainwashed to buy in to it?
But the nice thing is, the fact that this kind of people leave BTC gives a short term dip, but they will be out of bitcoin forever. Remember Mike Hearn? Dejavu......
Yeah right now Coinbase is just about down I have a feeling something went really heywire when they just released BCH. Nothing like flooding the BCH market with millions of BCH coins and then some how they price sky rockets? lol literally makes no sense at all
It makes perfect sense. No one in their right mind would dump BCH for BTC with the current state of BTC tx fees, especially considering there's no end in sight to BTC's scaling troubles.
Half the time these price moves (all coins) make no sense at all. LOL
Amen
Half time? or most of the time? LOL
Pretty much all the time. It is like rolling dice!
Food for thought, sometimes I wonder is the blockchain or the hosting site that is congested.
From a technical point of view, as an entity like a coinbase, they should have the capacity to scale their hosting site to meet the traffic demand. Millions of user is not even near to any fraction of what facebook is bomb at.
If it were the blockchain that is slowing it down, the hosting site shouldn't be freezing.
Technically when you send coins to the exchange, the exchange will cold store your coins and in return gives you their token of a representation of that coin you sent. Likewise for fiat. So, when you buy and sell, you are technically trading the exchange fiat token instead of the real coins and fiat.
yup, that make sense. I have once encounter trying to buy coin, yet got denied. Is frustrating. Likely was due to how popular the coin is and they run out of token, or reserving not to let us ride on the bull wave.
Wow. That all happened very quickly. Things are looking up for BCH. I may have to buy some next dip.
I was looking on this pump it was good way to make money :)
WAS? I`m sure u regret if you sold already...
It’s time to listen what Roger Ver said about BCH
Follow his twitter for better understanding about BCH : https://twitter.com/rogerkver
Roger is trying to hijack Bitcoin. I am going to write an in-depth blog tomorrow about it. All the people promoting him and BCH bought all the dumped coins after the fork, as his planned FUD regarding Antpool(massive miner operation under his control)acting like they were not going to mine BCH at all for weeks, triggered massive sells. This was all planned. And there is more to the plan. I'll explain more tomorrow in my blog.
coinbase is a joke
These exchanges do need to get there act together, cheers
@kingscrown
Skies the limit :) Best wishes to all! - @splendorhub
Thanks for sharing. Hopefully they add some additional coins soon.