E-Toro Buyers might face possible BTC limitations

[TravelMug]

This is a first:

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.

[zanezane]

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.

[mk4]

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.

[cryptomaniac_xxx]

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.

Exactly, this is just one platform, but I've seen news that even Coinbase is running short of bitcoin though because of the huge demand. And that's why recently the price really spike, but now the liquidity is somewhat there as we have seen corrections. In any case, there is a lot of wild and educated guess that we can hit 6 digit this year so maybe we will more of this kind limitations on all crypto related services.

[boyptc]

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.

[Kittygalore]

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.

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.