Incredibly high volume on BTC-e - Bot gone crazy?

[ensurance982]

There's an incredible surge in volume on BTC-e at the moment: http://bitcoinity.org/markets/btce/USD! It seems to be caused by some bot gone awry, as some incoherent buying and selling is happening. Someone may be losing big time on fees currently. What do you think is going on?

[DooMAD]

Difficult to say for sure.  Seems to be more buying than selling at the moment, so it could just be someone trying to get in while the price is dipping.  Someone just sunk $70k into a buy for just shy of BTC150.  If I had that kind of money to throw around, I'd probably join them.

[longshort3301]

Indeed! maybe someone is cashing out))

[BitCoinNutJob]

wow that is totally insane maybe we are on the verge of something?

[ensurance982]

wow that is totally insane maybe we are on the verge of something?

I don't know it's difficult to say, I mean basically the price is dipping quite a bit at the moment, so there's not just selling happening. But whenever someone is selling BTC, another person is actually buying them. But if this really is just some bot buying and selling to and from himself, it basically is making a big loss due to the fees!

[catena5260]

We broke the 500's and the 490's, plus it is weekend.

That is enough to wake up some big bots.

[hloren70]

wow that is totally insane maybe we are on the verge of something?

I've been thinking that myself. You can just feel it in the air that BTC is gearing up for another rocket trip.

[BitCoinNutJob]

wow that is totally insane maybe we are on the verge of something?

I've been thinking that myself. You can just feel it in the air that BTC is gearing up for another rocket trip.

Whats interesting also is the buy support is actually pretty stong on BTC-e with all things considered.... we have only 2k users online.  We have over $5 million in BTC buy orders and only 7500 BTC available to buy.   This is pretty bullish but we need a reason to go to the moon.

[Plank]

There's an incredible surge in volume on BTC-e at the moment: http://bitcoinity.org/markets/btce/USD! It seems to be caused by some bot gone awry, as some incoherent buying and selling is happening. Someone may be losing big time on fees currently. What do you think is going on?

Yeah the bot has gone mad and this is why it happened
http://www.cryptocoinsnews.com/news/malfunctioning-bitcoin-trader-bot-causes-extremely-high-volume-bitcoin-exchange-btc-e/2014/08/31?utm_source=rss&utm_medium=rss&utm_campaign=malfunctioning-bitcoin-trader-bot-causes-extremely-high-volume-bitcoin-exchange-btc-e

[minerpumpkin]

Very bullish right now looking in from a trading aspect.
BTC rocket is around the corner...

You do actually see that we crashed well into the $470s today!? I wouldn't exactly call that bullish and the harbinger for a new rocket or moon trip! What makes you think this is a positive thing?

[abercrombie]

Willie has returned!

Only this time, he now works for Skynet.  

[MyPotPlantDied]

Very bullish right now looking in from a trading aspect.
BTC rocket is around the corner...

You do actually see that we crashed well into the $470s today!? I wouldn't exactly call that bullish and the harbinger for a new rocket or moon trip! What makes you think this is a positive thing?

Volatility is up, that means more people entering the market. Maybe even big money!

[Beliathon]

I've been thinking that myself. You can just feel it in the air that BTC is gearing up for another rocket trip.

[minerpumpkin]

Very bullish right now looking in from a trading aspect.
BTC rocket is around the corner...

You do actually see that we crashed well into the $470s today!? I wouldn't exactly call that bullish and the harbinger for a new rocket or moon trip! What makes you think this is a positive thing?

Volatility is up, that means more people entering the market. Maybe even big money!

You do realize that the trading on BTC-e is some bot gone mad/awry/crazy or whatever!? We've had volatility for some weeks now again, but it just seems to be going down for the time being, which isn't a good sign.

[madken7777]

There's an incredible surge in volume on BTC-e at the moment: http://bitcoinity.org/markets/btce/USD! It seems to be caused by some bot gone awry, as some incoherent buying and selling is happening. Someone may be losing big time on fees currently. What do you think is going on?

Could be:

1) Multiple bots fighting each other on trend.
2) Multiple bots "painting" the tape to create the illusion of resistance.

[BitCoinNutJob]

There's an incredible surge in volume on BTC-e at the moment: http://bitcoinity.org/markets/btce/USD! It seems to be caused by some bot gone awry, as some incoherent buying and selling is happening. Someone may be losing big time on fees currently. What do you think is going on?

Could be:

1) Multiple bots fighting each other on trend.
2) Multiple bots "painting" the tape to create the illusion of resistance.

3) hoards of russian buyers and sellers not knowing what to do if they are blocked from SWIFT banking transfers

[longshort3301]

There's an incredible surge in volume on BTC-e at the moment: http://bitcoinity.org/markets/btce/USD! It seems to be caused by some bot gone awry, as some incoherent buying and selling is happening. Someone may be losing big time on fees currently. What do you think is going on?

Could be:

1) Multiple bots fighting each other on trend.
2) Multiple bots "painting" the tape to create the illusion of resistance.

3) hoards of russian buyers and sellers not knowing what to do if they are blocked from SWIFT banking transfers

they'll just hack jpmorgan, goldmansachs, bankofamerica etc., but to be honest banning russia from swift will actually kill usd as a reserve currency, so no way usa will ever ban them, russians will go away themselves when their version of swift is ready

[pringbit]

Maybe there are some whales trying to manipulate the market so the volume is high.

[minerpumpkin]

Maybe there are some whales trying to manipulate the market so the volume is high.

I don't think so. The volume is incredibly high. Also, the buying/selling seems to follow some very odd pattern and happens at a very fast pace. This ain't no manipulation by whales. It's a bot.

[lomalio]

I think the bot just got switched off. Back to normal soon.