Fun with bots — Let’s make a massive sell wall at $20K!

Hey hodlers! Let's have some fun with the trading bots.

First let me explain something that you may not know if you're not a traditional "investor"

When third parties hold your — let's say — stocks for you, did you know that they can trade them and write contracts on them as long as you don't put them "on order?" One old trick is to place your shares on order, meaning, set a limit order at a price much higher than the current price. This prevents your broker from lending your shares to short sellers (and actually forces short sellers who may have already borrowed your shares to close at the current price). This article explains more about the concept

I did something fun today — instead of sending all of my latest purchase to cold storage, I placed half of it on order for sale at $ 20K. I'm sure today's nice little rise had nothing to do with my little order, but it got me thinking…

What if 10,000 people placed a tiny limit order of, say .02 BTC at $ 20,000? The bots would see these orders. It would really "mess with their heads" because the order book plays a role in most trading algorithms.

I DO NOT SUGGEST ACTUALLY SELLING AT $ 20K because next time we go there, we will overshoot it by a mile. What I am suggesting is that we each pile on a little dust in limit orders at that level just to fuck with the bots.

This post will undoubtedly be downvoted heavily. Please upvote and share if you think this is an interesting idea.

submitted by /u/diydude2
[link] [comments]
Bitcoin – The Currency of the Internet

My friends had no problem buying #bitcoin at $7K all the way to $20K. Most of them have panic sold at a loss and now won’t dare to re-invest at $4K. Something tells me this cycle will repeat again at $40K to $80K per $BTC. 🤔

My friends had no problem buying #bitcoin at $  7K all the way to $  20K. Most of them have panic sold at a loss and now won't dare to re-invest at $  4K. Something tells me this cycle will repeat again at $  40K to $  80K per $  BTC. 🤔 submitted by /u/Bitcoin1776
[link] [comments]

Bitcoin – The Currency of the Internet

Bitcoin Needs Enhancements and Institutional Money to Beat $20K Highs, Say Analysts

The price of Bitcoin has finally picked up since April after struggling to stay above the $ 6,000 mark earlier in the year. Investor confidence within the cryptocurrency market is getting on its feet as the market cap reaches $ 450 billion and BTC dominance drops to nearly a third of the market. There are three …
Google Alert – bitcoin

Bitcoin Will Hit $20K in 2018. Here's Why Ethereum Is a Better Bet, Says Reddit Cofounder

While Bitcoin may be the poster child of cryptocurrencies, Reddit co-founder Alexis Ohanian thinks the second most valuable cryptocurrency by market capitalization, Ethereum, will be the real winner. “I'm most bullish about Ethereum simply because people are actually building on it,” Ohanian told …
Google Alert – bitcoin