Re: [OFFICIAL]Bitfinex.com first Bitcoin P2P lending platform for leverage trading
Hello guys, can you explain me this situation? I have placed BTC/BCH stop order @ 0.1425 and was pretty sure it is safe price and it will not trigger, and on charts there is one moment in time when price was dragged down by 20% and i believe lots of stop orders was triggered...
What is this? Market has not reached 0.1425, it was just some single "event"....
Shouldn't platform protect traders from such kind of activity? As for my small trade of 2 BCH i lost 0.07 BTC ( at least) looking at the actual prices... Also there is no signs of price recovery or something like that, if all stop orders has been taken by some big order price should have at least some time to recover, but it happens just in a single moment... And what is more it has been triggered @ 0.1425 and sold for 0.14, and all of this in a single minute...
1 minute chart:
What is this? Market has not reached 0.1425, it was just some single "event"....
Shouldn't platform protect traders from such kind of activity? As for my small trade of 2 BCH i lost 0.07 BTC ( at least) looking at the actual prices... Also there is no signs of price recovery or something like that, if all stop orders has been taken by some big order price should have at least some time to recover, but it happens just in a single moment... And what is more it has been triggered @ 0.1425 and sold for 0.14, and all of this in a single minute...
1 minute chart:
Bitfinex is not the only exchange where you can see that
That can be severe orderbook manipulation on the exchange part, but other exchanges are doing it all the time, even the regulated ones as well as the ones which have nothing to do with Bitcoin and other crypto. I've seen this happen before, and the conventional view is that when a market becomes too thin (not enough liquidity in the market), some whales or exchange itself may use it to trigger stop-losses. Obviously, exchange knows about these stop-loss orders everything, so this is kind of expected