Quote from: JeffBrad12 on October 26, 2018, 03:23:38 PM

Quote from: coingrowth on October 26, 2018, 02:05:52 PM

Skilled exchange traders learned to use the programs facilitating trading process long ago. It can be as semi-automatic trade advisers and completely automatic bots.

These programs trace the price chart of an asset and find an optimum point for an entrance to the market. Completely automated soft does not assume intervention of the trader in process of the auction.

The strategy of bots in the crypto foreign exchange market, as a rule, comes down to the creation of "false" warrants. Warrants are formed with one purpose to provide the illusion around a digital asset. Thus, manipulate the price in the necessary direction, deceiving other investors. Fake warrants at the right time are simply canceled.

‼Bots in the market of cryptocurrencies is a serious problem. Owners of the crypto exchanges need to think seriously of maintaining own reputation and to introduce internal rules and restrictions.

It looks so difficult consider about even some exchange sites have used the bot to create fake orders, I have seen some people have proven it so many times. Remember the exchange site just like exrate, yobit and more shitty exchange sites are using bot to create fake orders.

I am not into the technicalities of the software programs or bots used in cryptocurrency trading but I heard that there are some exchanges using bots and they can easily dump and pump any coin or token that they want presumably to speculate and manipulate the market most especially with an asset that has limited market volume. I am sure that this whole thing has been around ever since cryptocurrency came into being and program developers have already scaled the whole process. I think that this is not good for the whole marketplace actually and this can have long-term repercussions which can be negative for all of us.