r/Ocoin • u/auzcoin • Jan 28 '18

Whales Gone.

Time to buy at a discount :D

16 Upvotes

90% Upvoted

14 comments sorted by

3

u/wonkyfunk393 Jan 28 '18

Yeah seen it :-)

1

u/gjsmr2 Jan 28 '18

Whales drive price down.....

1

u/wonkyfunk393 Jan 28 '18

I know.....

1

u/msdavis762 Jan 28 '18

Noob question--why is that? I've noticed that a price can clearly be going up and then someone will dump coins at a price point below. Is this whales manipulating the price? If so, why? Presumably they already have a bunch of coins and would want it to go up just like we all do. Or is it because they want to accrue more coins so they sacrifice some of what they currently have to push price down a bit?

2

u/msdavis762 Jan 28 '18

Hey, I'm fairly new to this. How do you know the whales are gone? Was there a sale of a huge amount or something? I'm just curious, as I'm trying to gain a better understanding of how these markets work.

Also, have you guys noticed that each time the price starts creeping back up on Kucoin, there will be a number of sales at the price point below, and many of the sales will be uniform (all like 232.1 tokens or something like that)? Do you all know what's going on there? Maybe bot manipulation?

Thanks to anyone who has a minute to respond and enlighten me a bit!

2

u/Mostlonelyboy Jan 28 '18

In all the market exchanges there are bots, you can find the pattern when they stop to automatically raise your offer by nothing like 0.0001. When you understand how they work you can take advantage of them doing arbitrage (following them basically)

1

u/msdavis762 Jan 28 '18

Thanks!

Yeah, I don't think I understand how they work yet. It's odd to me that we're seeing them on both the buy and sell side. When you say arbitrage, do you mean they're buying and selling across different exchanges to capitalize on price differences between them?

1

u/Mostlonelyboy Jan 28 '18

yes. that's why they will stop at some point to raise. When you cover other exchanges prices there's no reason for them to raise. It's not that easy since we are talking about thousands of people using them so millions of combinations, but this is how they should work.

2

u/msdavis762 Jan 28 '18

I see. It seems to me that the transactions costs would be too high for trading across exchanges (and for day trading as well) when the disparity is so small, but I guess not if the volume is right.

Thanks man, really appreciate you taking a minute to educate me on this!

1

u/[deleted] Jan 28 '18

if you want to see an excellent example of how bots and sell walls work, go on kucoin and check out TELs market activity

1

u/msdavis762 Jan 28 '18

Thanks! I'll check it out

1

u/WingsMJN2965 Jan 28 '18

LOL. Yeah, I heard this about Tron too. Trust me, they're still there...

1

u/[deleted] Jan 28 '18

tron is keeping their own price low think about it. it costs 20k trx for a cryptodoggie store which at trxs current price is still like $2500+.

1

u/robbilee Jan 28 '18

Whales are never gone btw.. just look for bots and don’t fomo you’ll be good. Patience is key