Ninjastic
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Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
gotmilk_
on 09/08/2015, 21:31:45 UTC
Quote from: dreamspark on August 09, 2015, 08:27:45 PM
Quote from: gotmilk_ on August 09, 2015, 08:23:35 PM
Quote from: dEBRUYNE on August 09, 2015, 08:00:19 PM
Bids are back on finex, but bear in mind that they can easily get removed again. The guy/entity probably has a script running on the API to remove bids if the price comes within a certain % range of it. In conclusion, don't get fooled by the orderbook.

Yesterday more or less all those bids were "real". I bet that one entity is playing on both sides of the order book.

The bids that were left were real. The guy was beefing the books up way further back so there was 16k ish showing back 30 bucks. When the price moved into the mid 270's they were pulled leaving around 9k back 30 bucks. He's likely pushing the market up into his shorts, removing his bids and tearing through whats left.

Not sure about shorting (shorts aren't up that much).
I believe he is pushing the price down with small sells. Those and sells from other traders hit stop losses which fills his bids. This entity is probably also liquidity provider so they earn a lot with interests.

To be fair, I wouldn't be surprised if bitfinex alone or someone near them is running everything up. Market maker must trust bitfinex big time since he must hold a lot of fiat and bitcoins there.
After all it wouldn't be the first time one of the exchanges would manipulate the market  Wink