Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by JayJuanGee (1)
Why would they do that? Selling this sharply means losing money.
Volatility always means profit for the exchange, despite of the direction. I am not accusing Kraken to be responsible for the dump. It is just weird that € has any relevance in this game when everybody thinks it doesn’t.
I'm not sure Kraken would gain enough from the fees to cover the loss of such sell. But yeah, who knows?
Although I am European and I care more about the EUR price than USD price, I don't use Kraken. For example Bitstamp also has EUR pair.
And no, EUR is far from irrelevant. Europe do have money, Europe does invest and trade Bitcoin. But for day trade, for example, if one just buys and sells and repeats, the currency doesn't mean anything (so it can be USD, where the volumes are higher).
Keep in mind that Europe is also more than Eurozone and most have to convert the earnings anyway into their local currency. This doesn't mean the orders cannot be calculated in Euro and converted afterwards to the equivalent USD price.
...Or maybe I just over-complicate everything
This is a very bearish candle.
Isn't just wishful thinking by chance? I mean that you have that specific candle only on the 3-day chart and it looks wonderful in all other charts, including the more usual 1-day ..
