Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
DaRude
on 26/06/2016, 17:18:08 UTC
Support broken! Shocked
Didn't expect this... Waiting for a long entry, but this is getting bearisher... Huh

Sometimes, if it looks too bearish, it's actually bullish

Or it's all just noise.

Back to fundamentals

There are about $43.7MM swaps borrowed just on finex. At current daily rate of 0.06% That's $26k just in daily fees only on Finex
For the last month the conservative daily average trade volume on finex is BTC50000 assuming exchange fee of 0.2% on each trade that's BTC100 daily in fees or $62k. Plus about $10k that shorts are paying in fees. Or in total about $100k in daily fees just on Finex

In 13days there will be only $1.1MM worth of new BTC daily at current spot. So people are paying close to 10% just in fees only on one exchange of all of supply will be worth in 13 days  Huh

But i still enjoy watching people try to momentum trade this or find those short term patterns. Time to stock up on more popcorn and HODL

maths are hard. Couldn't count that high on crazy daily interest