Title: E-Toro Buyers might face possible BTC limitations Post by: TravelMug on January 16, 2021, 01:44:29 AM This is a first:
Quote Multi-asset brokerage eToro has issued a warning to users looking to buy bitcoin and other cryptocurrencies over the coming weekend. According to an email sent to customers and as reported by Bloomberg on Wednesday, the Israel-based company said customers could face “possible limitations” due to “challenges” in the platform’s ability to support buy orders. The company said it may impose limitations on customers looking to purchase cryptocurrency assets due to complications arising from a lack of market liquidity. https://www.coindesk.com/crypto-buyers-face-possible-limitations-on-etoro-this-weekend It means that the demand is still there, we are still in the bullish phase, although we might see some dips along the long. And E-Toro themselves are now imposing limitations to their customers because of the high demand of BTC and other cryptos, so bitcoin is one of the most sought asset right now. Title: Re: E-Toro Buyers might face possible BTC limitations Post by: zanezane on January 16, 2021, 02:16:06 AM This can only mean that the prices will go up and everyone will be fighting neck to neck to get their hands into some satoshi. Hopefully, they can solve this problem with their buy orders. AFAIK eToro only deals with stocks but I am quite surprised that they are dealing with cryptocurrency too, I hope that they do some expansion at that department like putting other crypto besides bitcoin.
Title: Re: E-Toro Buyers might face possible BTC limitations Post by: mk4 on January 16, 2021, 05:28:44 AM This can only mean that the prices will go up and everyone will be fighting neck to neck to get their hands into some satoshi. Hopefully, they can solve this problem with their buy orders. Not necessarily. Take note that this is only eToro; don't get me wrong, it's a huge platform, it's merely one platform. I'd say bitcoin will be almost guaranteed to go up probably(we're talking about the short term btw) if a good number of platforms has this sell-side liquidity problem. Title: Re: E-Toro Buyers might face possible BTC limitations Post by: cryptomaniac_xxx on January 16, 2021, 07:01:47 AM This can only mean that the prices will go up and everyone will be fighting neck to neck to get their hands into some satoshi. Hopefully, they can solve this problem with their buy orders. Not necessarily. Take note that this is only eToro; don't get me wrong, it's a huge platform, it's merely one platform. I'd say bitcoin will be almost guaranteed to go up probably(we're talking about the short term btw) if a good number of platforms has this sell-side liquidity problem. Title: Re: E-Toro Buyers might face possible BTC limitations Post by: boyptc on January 16, 2021, 07:29:58 AM Yes, it's still bullish and the signs that we're seeing in the current corrections are just pretty normal and looking good. E-toro can't take the demand that their platform is getting and it's overwhelming for them.
Limiting orders are a necessary and temporary solution for them until they get enough supply again. Title: Re: E-Toro Buyers might face possible BTC limitations Post by: Kittygalore on January 16, 2021, 09:51:51 AM Yes, it's still bullish and the signs that we're seeing in the current corrections are just pretty normal and looking good. E-toro can't take the demand that their platform is getting and it's overwhelming for them. Getting back the supply is close to impossible at this moment, as far as I know the institutional investors are planning to hold their bitcoins. From what I can remember Michael Saylor said that he will hold for 100 years which is impossible because the worst thing that you can do is to trust the words of a business person especially those that are in the sector of finance. E-Toro will have a problem on this one as some users might migrate to other sites to buy bitcoin.Limiting orders are a necessary and temporary solution for them until they get enough supply again. |