have strong position in this, this is going to be a big one might go to 1$ and above like really fast, many alt coins will, be patient be careful on manipulation by bots between exchanges arbitrage it is what is happening more or less for many coins right now
+1 bots are fucking bitches ...
it's hard to predict a price, for the moment my brain is in Off position about CKC, i know it's gonna take months until it reach a nice value ( if it will ).
completely.. please read this, it was eye opening to me i had no idea that is because I am for the long term (decade and > long) I could not care less for intra day, intra day I make my money outside of crypto at the moment
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There is a bot that is ACTIVELY manipulating the price, quite effectively too. If you look at the price on bitcoinwisdom, you will see that there is a pretty even spread of asks all bunched together, within 10 satoshis!
About 5 BTC. This makes a barrier and also crowds out the orderbook so you can’t see what is really going on. It is also changing things several times per second to create the impression of a lot of activity. What it does is pushes the price down by clearing out small bids and making lower and lower asks.
Earlier there was about 10 BTC in 30+ orders around .0049 and 3 BTC between that and .008
So, there is no investor panic going on. It is just one guy running a bot. And he is doing this on many different coins.
His game is this.
Have the bot on bittrex and cryptsy, but run just one of them at a time. Create some FUD, push the price down on one (easier to create fear, especially in a bear market), then as people get convinced everybody is selling, they start selling. Remember this is just happening on one market. So soon the sell price on one exchange is lower than the buy price on the other exchange where the bot is idle. Guaranteed profits! Then the bots switch.
So first one exchange price is pushed down, arbitraged, then the other. Doing this it creates these mysterious price declines as we are making such good progress. All the way down to .005! But there was really very little for sale below .008 as this operation is being done on dozens of coins, so only so much budget per coin.
Now this bot is not caring about price at all. Whatever the price is, it just picks the exchange with the lower price, pushes it down until it can arbitrage. The arbitraging evens the price out and then the pushing starts again. Now this bot stays away from even a 1 BTC wall from what I have seen and certainly anything larger it stays about 10% away from. However if there is no big wall, it happily starts pushing the price down, even filling some orders if they are small enough.
These bots are probably on autopilot, so that means a clever person will be able to trick the bot.
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