Dogecoin price is very low on HitBtc

[Lanatsa]

I was very surprised when I looked at the price of Dogecoin on HitBtc it was only 0.0869$ while on other platforms and in CoinMarketCap it is 0.246$!!!
Of course no one is trying to arbitrage because HitBtc closed the withdrawal from the platform but left the deposit only.

My question is why this huge price discrepancy between HitBtc and the market and what makes the price drop so much on the exchange and why is the exchange not trying to correct the price to match the market?
Is there a possibility for the price to catch up with the market price?

All matters with liquidity or volume and its no surprise that the price is lower compared on other exchangers which does have liquidity and also who the hell would be the one on making out deposits or trades on a particular platform when you do know that you cant able to withdraw?

Also, Hitbtc is known on having big fees and also with have some issue but im not saying that this is a scam platform since I do have experience on using this exchange in the past on selling
out some of my alts and everything went smooth.The only thing I do complain is about on the fees were too high.

Wont be surprising that issues are normal as long it don't end up on a scam then that do surely counts.

[Dinda mayasi]

I would argue that the actual price of Dogecoin today in all markets is almost the same, only a slight difference. If there is a decline there may be other factors. So far the emotion factor of the market has also had a big influence on coin prices.

[Danslip]

As mentioned by other forum members, the price is low because of the restrictions on specific altcoins. For withdrawing the dogecoin, you are supposed to sell it back to the lower price on the same pair and buy BTC which has the insane withdrawal fee on HitBtc. It doesn't make sense to wait such long for withdrawing a small profit because it can take ages to cashout your coins if the HitBtc team doesn't let you do so. If you wanna risk your hard-earned money on the fishy trading website, you can go for too good to be true trading opportunity.

[bluebit25]

I don't see anything too special with this problem because there's nothing we can do about it anyway. Moreover, I personally no longer support this coin, perhaps it will be the price of doge coin in the near future.

[Shasha80]

I don't see anything too special with this problem because there's nothing we can do about it anyway. Moreover, I personally no longer support this coin, perhaps it will be the price of doge coin in the near future.

It's true that there's nothing we can do about the problems experienced by the OP, as HitBtc closed withdrawals for Dogecoin. All the OP can do is
wait for the Dogecoin price on HitBtc to return to normal like other exchanges or wait until the withdrawal for Dogecoin is active again.
And this is a lesson for all of us, to always choose popular exchanges and have a good reputation. As far as I know HitBtc has a problem,
a lot of harm to its users, it's good while we don't make a deposit at HitBtc.

[maxreish]

Whats the point of buying dogecoin in Hitbtc?  Even they offer the lowest from the other exchange, the reputation of hitbtc exchange isnt that good, you can deposit but can not be able to withdraw?

With those fake price and volume, I suggest you just buy dogecoin in some reputable and trusted exchange.

[Russlenat]

They have already disabled the withdrawal for a long time now, I used to trade with the site for my DOGE, but things changes when the withdrawal disabled. It's a good opportunity to hedge, however, it will not be possible as you will not be able to withdraw your DOGE, so it's still useless.

This exchange is not stupid, they know what they are doing, and they would not allow to be abuse by the traders.

[yohananaomi]

Hitbtc had gone very bad over the years and had seen a great decline traded volume, users and new coin listing. It also has fake volume and low trade order, I wonder if the exchange will survive another cycle. I closed my account on hitbtc last year and will not consider trading any coin on it. Not only doge coin has low price, u can check other prices.

I haven't used HitBtc for a long time so I never follow developments anymore, I actively used it when Bitcoin was on the rise at the end of 2017 and when 2018 experienced problems which included protracted, even though it could be solved but because of many obstacles finally left 1 that could not be solved , began to rarely use it.

yes, if you look at the price of doge, you can see a quite striking difference, because the prices are very far apart and I don't understand if what you say is true that they have fake volumes which are clearly very detrimental to those who make transactions there. if trading volume decreases, it could be that there are now many new exchanges growing and quite good and could be cheaper and faster to settle, so the competition is very tight, if you can't maintain it properly, there will be a decline, which is normal

[feelideb]

When centralized exchange lock users fund and there are no withdrawal, this kind of huge price discrepancy occur. I will bet that nobody wants their funds lock up simply because of opportunity of arbitrage. The event right here with HitBtc is the readon of the rise and popularity of decentralized exchange. I thinkvdex is the future despite teething problems at this time!

[South Park]

I was very surprised when I looked at the price of Dogecoin on HitBtc it was only 0.0869$ while on other platforms and in CoinMarketCap it is 0.246$!!!
Of course no one is trying to arbitrage because HitBtc closed the withdrawal from the platform but left the deposit only.

My question is why this huge price discrepancy between HitBtc and the market and what makes the price drop so much on the exchange and why is the exchange not trying to correct the price to match the market?
Is there a possibility for the price to catch up with the market price?

This is completely natural, this is what happens in any closed market, in fact we have seen this a few times when this happened to bitcoin and we saw the same reduction in price, basically those that had bitcoin in a platform that did not allowed for withdrawals had a huge problem, so other people decided to buy their coins but since they were taking a risk they asked for a big discount and they got it thinking that maybe at some point withdrawals will resume, and the same scenario is happening here.

[Gozie51]

When centralized exchange lock users fund and there are no withdrawal, this kind of huge price discrepancy occur. I will bet that nobody wants their funds lock up simply because of opportunity of arbitrage. The event right here with HitBtc is the readon of the rise and popularity of decentralized exchange. I thinkvdex is the future despite teething problems at this time!

But I think there should be information or announcement to that effect before locking up users hodling.... I don't know if that was done? And if they are sincere, they should have done that.

I remember two years back or close to it when coin exchange was about closing up, they gave such information for users with a longtime notice before they shut down. That is the right thing to do to give choice to users if they want to allow their hodling there or not and not to lock them up and allow only deposit.

Is that not a form of fraud?

[mindrust]

Too many scam reports on that exchange. You cannot trust their data. If the price of a coin is either too low or too high on an exchange, it usually indicates that people either can't withdraw, deposit or trade that particular coin. I am almost sure that one of these situations apply to HitBtc's case.

[elisabetheva]

When centralized exchange lock users fund and there are no withdrawal, this kind of huge price discrepancy occur. I will bet that nobody wants their funds lock up simply because of opportunity of arbitrage. The event right here with HitBtc is the readon of the rise and popularity of decentralized exchange. I thinkvdex is the future despite teething problems at this time!

But I think there should be information or announcement to that effect before locking up users hodling.... I don't know if that was done? And if they are sincere, they should have done that.

I remember two years back or close to it when coin exchange was about closing up, they gave such information for users with a longtime notice before they shut down. That is the right thing to do to give choice to users if they want to allow their hodling there or not and not to lock them up and allow only deposit.

Is that not a form of fraud?

I've experienced for different coins and it's true what you say we are given information about it via the email address where we registered. asking us to do the transfer at a certain time so that we can move the coin if we still need it, because the coin is not growing and there is no indication that it can increase, especially since there is no visible movement, I did nothing to the coin. but in essence there will be a notification for it, because it is clear what you said that if they do not make a clear notification this is fraud.

[Quidat]

When centralized exchange lock users fund and there are no withdrawal, this kind of huge price discrepancy occur. I will bet that nobody wants their funds lock up simply because of opportunity of arbitrage. The event right here with HitBtc is the readon of the rise and popularity of decentralized exchange. I thinkvdex is the future despite teething problems at this time!

But I think there should be information or announcement to that effect before locking up users hodling.... I don't know if that was done? And if they are sincere, they should have done that.

I remember two years back or close to it when coin exchange was about closing up, they gave such information for users with a longtime notice before they shut down. That is the right thing to do to give choice to users if they want to allow their hodling there or not and not to lock them up and allow only deposit.

Is that not a form of fraud?

I've experienced for different coins and it's true what you say we are given information about it via the email address where we registered. asking us to do the transfer at a certain time so that we can move the coin if we still need it, because the coin is not growing and there is no indication that it can increase, especially since there is no visible movement, I did nothing to the coin. but in essence there will be a notification for it, because it is clear what you said that if they do not make a clear notification this is fraud.

Usually when a coin turns  out on low volume or doesnt have liquidity at all then it do turns out that those would really be delisted soon and most exchangers does really give out notification in terms of getting your funds
before it would get stucked or locked into the exchange which its a basic thing to happen.

Most of the time on where a coin does have big price gaps or difference in between platforms then it does indicate that theres no liquidity on a certain coin and of course they would really be disabling
withdrawals to avoid such possible arbitrage.
People might be seeing this as an opportunity but platforms arent that blind nor numb on not doing so

[7788bitcoin]

~
Most of the time on where a coin does have big price gaps or difference in between platforms then it does indicate that theres no liquidity on a certain coin and of course they would really be disabling
withdrawals to avoid such possible arbitrage.
People might be seeing this as an opportunity but platforms arent that blind nor numb on not doing so

It is clear that HitBTC had an issue with their system and so is the reason they have stopped the withdrawal of coins, i am not sure whether the trading is halted and if they are still active then you can purchase the coins and then wait for the maintenance to get over and withdraw the coins if the margin is high.

Before that we need to get a confirmation from their customer service about how much time will it take for them to enable the withdrawal button.

[Chato1977]

I was very surprised when I looked at the price of Dogecoin on HitBtc it was only 0.0869$ while on other platforms and in CoinMarketCap it is 0.246$!!!
Of course no one is trying to arbitrage because HitBtc closed the withdrawal from the platform but left the deposit only.

My question is why this huge price discrepancy between HitBtc and the market and what makes the price drop so much on the exchange and why is the exchange not trying to correct the price to match the market?
Is there a possibility for the price to catch up with the market price?

What can you expect from a scam exchange ? this has been same thing happens in Yobit in the past that they even have offers cheap coins but when you purchase then you are trapped.

so this is normal that only Noob and greed will fall from this traps.

I'm doubting an exchange if they are closing withdrawal and transfer in a long time because that is the time that they can manipulate the market.
Even this exchange is already last long in crypto market, i think right now there are a lot better exchange, just IMO

The question is , "will they really open the withdrawal soon"?

[tvplus006]

What can you expect from a scam exchange ? this has been same thing happens in Yobit in the past that they even have offers cheap coins but when you purchase then you are trapped.

Such problems arise not only when scam exchanges are used. Recently, after the hacking of the KuCoin exchange, the exchange administration closed the withdrawal of a large number of coins, which led to a change in the value of coins traded on the exchange. When I saw that the price of DIA on KuCoin was trading below the price on Binance by more than 10%, I decided to take advantage of this situation, but my coins that I tried to withdraw were blocked by the exchange for several days. After unlocking, the price changed and I eventually received a small loss from this transaction.

[rodskee]

I'm doubting an exchange if they are closing withdrawal and transfer in a long time because that is the time that they can manipulate the market.
Even this exchange is already last long in crypto market, i think right now there are a lot better exchange, just IMO

They are not targetting to manipulate the market ,but they are looking for potential victims that will Buy orders from their exchange seeing how cheap Dogecoin is , but not knowing that they will be trapped after purchase because the coins cannot be withdrawn and will let them sits in their accounts .
though they can convert in to other coins but yet they have already missed the chance of profiting  .

[michellee]

I'm doubting an exchange if they are closing withdrawal and transfer in a long time because that is the time that they can manipulate the market.
Even this exchange is already last long in crypto market, i think right now there are a lot better exchange, just IMO

Although they do not close withdrawal and transfer, they can use maintenance for the wallet, which is a cliche. If they are really close to that, I think they will not really close it because almost all exchanges have Dogecoin pair usdt and btc and else, so they will not do that.

Sometimes, this attracts greediness from gamblers become bigger because they see the gap price is too big and they see the chance to make a profit there. But then, after they do something, they realize something wrong happen and they can not do anything unless just waiting for more and hope that everything will be okay.

[Mistafreeze]

What can you expect from a scam exchange ? this has been same thing happens in Yobit in the past that they even have offers cheap coins but when you purchase then you are trapped.

Such problems arise not only when scam exchanges are used. Recently, after the hacking of the KuCoin exchange, the exchange administration closed the withdrawal of a large number of coins, which led to a change in the value of coins traded on the exchange. When I saw that the price of DIA on KuCoin was trading below the price on Binance by more than 10%, I decided to take advantage of this situation, but my coins that I tried to withdraw were blocked by the exchange for several days. After unlocking, the price changed and I eventually received a small loss from this transaction.

One can not outsmart a thief holding a gun except the person wanna risk his or her life. A lot of investors had falling into these same trap of manipulating the market, enticing investors to fall for their low crypto prices. At the end they will shift the market price away from them giving them loses which is inevitable. Shady exchanges like Kucoin do this to cover their loses igniting more investors to contribute their hard earned money.