Bitcoin Forum

We can see sometimes during trading that a coin dumps to a minimum price and again starts to trade sideways. Today I have seen waves down from 0.0005200 satoshi to 0.0000001 satoshi. You can see this photo:-
https://i.postimg.cc/T2qHZbjk/Screenshot-2019-04-17-17-41-23.png

So my question is why someone sold their coin at this low price 0.0000001 satoshi? But If He will sell the coin slowly then he can get more BTC.  And who sold the coin? Investor/trader/ The team?
Thanks

First of all, if I read the numbers right, there's under 10 BTC on Waves Buying orders at Binance.
This means that a mistake was easy to make if somebody wanted to do something. So it's hard to tell if it was a mistake or it was an attempt to lower the prices in order to buy cheap.
It could have been even a glitch in the numbers from Binance!

maybe it's a bot. found many similar situations here and there when suddenly there's a flash crash or pump on some coins. not really that surprising, unless the volume is so high. if the latter is what's happening, and the coin is not really popular/strong, then it's highly likely a coin that going to be dead as soon as possible.


it's impossible to know this directly. even if the team disclose their owned address, it's possible that somebody who holds a lot of tokens like the team (some who buy really cheap at the beginning) can dump it too. no need to point any fingers if there's no proof for it.

We always blames it on the bot.  ;D. However, there are people behind who sets the parameter. @NeuroticFish has offered some good explanations, it good be a glitch or someone has mistakenly set the parameter of his bot wrong and when that conditions satisfies then it will be executed. As for who made the sell? We can't really pinpoint, except that the trader has been a big time error on his part.

Lucky for those who do able to buy that cheap and unlucky for those who sell.This is indeed an error setting up the parameter with a bot.So theres no actually new thing on here but hope these post do already clarifies out this curiosity.

A lot of possible things could've caused that, could be bot, human error, or intentional to drop the price. However, I doubt why would someone sell really that cheap. Makes me wonder ??? . Lucky who where able to buy those cheap.

*I encountered the same mistake before when I was trading using my phone, I mistakenly added additional zero when I placed an order.

I think its intensional someone is trying to fell their bags with cheapest waves as much as possible. At least this coin is making noise to be noticed and caught traders attention but definitely a shocking one, you might throw your phone when you catch this trend live.

Looks like someone forgot to adjust the settings of their bot. I have seen this kind of movement before and someone posted here what happened and its similar to this but then again could be a human error it self or someone trying to manipulate the price. Congrats to those who we're able to buy at bargain price.

There are so many possibilities about who sell the coin. But the truth is people who can buy waves at that price are the luckiest person especially if he can buy a lot of waves. And now, he only needs to wait for the price to increase and start to sell (or he already did to sell some waves to take his money).

Well, it could really turn out to be gold for those who were able to bag lots of Waves at that cheap price. And if this is a mistake due to bot's wrong parameters, then it just shows that bot are not for everyone to used or for people who doesn't like to double check everything, another disadvantage of bot lovers out there. That's why I'm against using bot specially if you are a newbie in this crypto sphere. I don't think there is manipulation here, you willing to sell your assets for a cheap price? I doubt that.

This is strange, waves looks like did not move today, and the volume is still huge.
If there are whales who sold, it should be down right now, I'm sure that graph is from Binance, but they have a good volume in Binance.

Indeed as bot is sets by humans and no other can be blamed

However this is a trading platform and we are all responsible on our investments

No one can tell whats right for us so never rely on anything but ourselves to be a successful traders

Usually this kind of things is a glitch it's already ever happening, although the price show that low but nobody can buy at that price, but I see now the price already normal so probably just error not someone intended to disrupt the price

The person was probably a panic seller or a newbie mistakely made the order.
Orders like this happens frequently on exchange especially the. decentralized ones

Is there any specific number on how many Waves has been sold @1satoshi each?
It is hard to predict what was happening, who did the sell order, or even who bought it at that low rate.
If it was real order, why it is not listed as the 24H Low price? Confusing...

That could be one reason that triggered that person to buy instantly, so it makes the order buy at a random price was filled. Or the whales just playing with the flash dump and want to see the traders reaction ;D
Or it could be someone was made a wrong order and cause all buy order was filled ;D
But I am sure that all people at that moment have to use the time to buy waves at the very very low because they will not see the same thing would happen in the future. So congratulations to people who can buy at that low price.

I do agree with you and it seems someone intentionally dump it in other to take advantage of the weak hands and buy cheap.  The true there is a lot of manipulations  are going on and because of this it is very hard for us to said this is a mistake.  Remember that waves is one of the popular coins and it has compete with coins like stratis and neo before and see this type of huge dumped is surprising to me.

These things happen in crypto. There are various possibilities for this to happen. It might also be a pump and dump.
Although there is not a pump, it might be a result for a previous pump as well. Also can you put the reference to this chart.
Waves has been going sideways since the last 2 weeks which shows it's pretty normal ???  :-\

This is why its worth keeping a some very cheap buy orders set just in case a flash crash happens.  I've seen this happen a decent amount of times when bots go off and a cascading trigger of stop losses are set and the price drops to almost nothing.

I'm doing this on some markets. If I happen to see that there isn't a buy order that goes with my plans, I'd easily snuck in a measly amount to transfer the crypto to a friend or to another account which I control. No confirmation times, fast movement of funds and works like a charm. Or it could be a bot that may have screwed up along the way insta-selling something and someone already has the buy order waiting.

That's why it's also handy to place buy orders on the lowest end of the market just in case.

By that happened, waves go back up after that fall. I don't know what happened on that but I think its a glitch for it to go down just like that and go up again just the way how stable it was. I saw someone profited from that.

When someone selling huge amount of coins for very cheap price then it can be considered as manipulation from whales because chance of making errors at the price is very rare.

So this is a work of an automated trading? And does this kind of thing seems normal to you? For me it's not this is actually the first time I saw a market of a coin that goes for a flash crash. After that crash, it went back up again.

By the looks of it with a huge gap down from an unreasonable proce all I cam see is that he just transferred his coins from another user or one of his accounts. I cannot say that this is a use rerror since a 1 satoshi price is something that won't go unnotice by the user so definitely this was done intentionally just to transfer it safely without anyone stealing the bid from him.

this event often occurs on several exchanges,
I also don't understand why it's sold so cheaply,
if I personally believe it will be sold cheaply and those who get it must be those who have high luck,
if I suggest it is better to put up a coin net at a very low price, because maybe one day someone will sell his assets very cheaply.

This has also happened to ETH


no one would sell at this price, and more likely it is some bug, but this should not be something shocking, in this crypto world with so many pump and dump the person should already be prepared for everything. 2 years ago I bought a shitcoin that was worth 10,000 satoshi and in less than 5 days it was worth 1 satoshi. I had a big loss

From the above instances many of the members can easily conclude that the guy who made the market down is not really satoshi lmao. Why he need to do that,  when he himself can make new ones.
Moreover you should know that,  all the coins and bitcoins follow the policy of supply and demand,  i can conclude that,  BTC supply was more for which the price went down and you witnessed this huge graph.

But that is happening in the market, and many of us miss to buy waves. I hope that in someday, this will happen again so we could buy a big amount of the coins ;D

Of course, after the crash, the price will be back to the price before because people need to lift the price to reach a higher price. That flash dump is shocking many people, and they are curious about what is happening in those days.

Yes that could be all the reason behind it.
It is difficult to have an error like that when you do it manually. It is just impossible or the user didnt double check and is in excitement to make a trade.

For that large amount it is impossible also to be a group. They always double and triple check it before they do the click.
The circumstances of making an error using a bot is higher.

Yes, and that's really the danger of bot. Just one mistakes and all your capital will be swept right away. And what makes it hard to accept is that it's automated, maybe you are away or sleeping when this happens and when you wake up, all your capital is gone.

My best guess is that it was done by a newbie or doesn't know how to trade in the crypto market but was head bent on trying to trade the coin all by himself without having to ask anyone for help who are well knowledgeable about crypto trading and ended up trading those coin for peanut.

I don't think we need to blame bot for everything we see in the market because I have once been a victim of this too, I had to sell my coins for peanuts because I want trade on my own without help.

This can be made by someone who just had enough of the coin and just decided to bail out rather than just keep waiting since it seems that it is not going up significantly, at least not enough to make a huge profit from it, things like this happen all the time and people always think that some kind of trading bot that messed up the algorithm and went mad on selling, these high volume sells cause the price to dip and usually hurt the small coins and make everyone panic but it seems that it was not as bad in this case since it has recovered.

Prices are always shaking. Their shackle nature tells everything up. You can’t believe in them as they are high one day and down most on the other. People need to understand the beauty of this variety. Bitcoin and other altcoins are just amazing due to their untiring nature. They are booming up and down and this help hundreds of traders to earn money even in few waves. So don’t just wait, lets invest in here.

This is the first time I saw this kind of fall. I believe this is a work of a whale or this could be a work of a bag holder of Waves. But I don't know, if it is a whale or a bag holder of that coin, the fall shouldn't be like that.

I don’t know why everyone is acting like this is a new thing this has been happening from the start, this is not the first time we are seeing the price move like this, it does happen every day… crypto is very volatile and it can move at any direction at anytime. So I don’t ready get why everyone is acting like they have never seen the price go down a bit and teen take up. Then why do we have traders? People buy and sell crypto every minute and the prices fluctuates at all times.

The question OP asked here is a bit funny. What makes him think people are not going to sell their coins when the price is low. You don’t know at what the person bought their coin, so it’s very possible they can decide to sell. I have seen people that sold their coins after fifty percent loss. So it happens at all times, people are buying and people are selling. You should as well ask yourself why people are buying when price is high. It’s the same thing.

Do some math. Its -99.8% in 1 second. Do you really thing that its due to price fluctuation? That's nonsense. This flash crash happened in 1 second. Do you really thing that someone was fast enough to create sell or buy order than? Even if you were looking at it all what you would see would be - bam and its gone. And its not happening every day. Once per month and not ot that big scale. If it would be everyday it would be very ease to catch it by leaving few orders at 1% value on various coins.

Answer to OP question.

It was stop loss attack. Whale create buy order at 10 sat and then eat all walls (10 btc) from 5000 sat to 4500 sat where big buy orders ended and continue dropping price till 10 sat (eating few small orders between). All in 1 huge order that was executed by exchange before next orders came in. And those orders which came in was stoploss with market sell. All of them hit in his 10 sat buy order (yea... person who did that was the one who bought that low). Next stoploss with limit sell hit market and set walls which whale bought going back to initial price (in fact with lower price than when he was dumping).

On regulated stock market that's forbidden and technically impossible due to price fluctuation limitation.

Learn from it. Always create stoploss with limit order.

This is why I say if you are going to leave any coins on an exchange you might as well leave up some really lowball offers on various coins.  These flash crashes happen more often than you think and you may be one of the lucky ones that gets your oder filled.

No one wants to sell their coin for lower price unless they want to manipulate the prices and we call those manipulators as whales.

There are so many factors that could contribute to why the coin was sold that low, it really cannot be a whale, it is either the project team or then if its project team, they would not have sold it that low.

I have also suspected it to be out of anger, probably someone was angry with the holding and would rather sell it off to be able to buy bitcoin than to keep holding the coin since he might believe is a shitcoins, I have a coin right now given to me that is worth $1 per token, I am already convince that this token will be a shitcoins, so I don’t mind selling all the 5000 coin that I have for 0.1 usd, even though it is currently being sold for $1.