There is something I would like to pay your attention to. I've recently noticed something very worrying on Cryptocurrency market. I understand that you're rather investing than trading so you might have not seen it for yourself but what I have spotted is very concerning.
I'm doing little bit of CFDs trading (Plus500 platform, mainly cryptocurrency because I like their volatility) also some on GDAX and on Binance exchanges. I'm mainly trading on my phone so I keep looking at the levels all the time and witnessed 400 dollars Bitcoin price increase in a second. However this is not what really concerns me but something else.As we all know Bitcoin tends to be irrational and volatile, I've seen it before but how to explain that during last week or so MULTIPLE times Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin and Iota spiked up or had a run down literally simultaneously. If you would have compared their 1min, 5min or 15min graphs they looked identical not similar but identical at times only to change patterns slightly for a while and go back to the same one. I was shocked seeing that over and over especially for the past week. I can accept similarities in cryptocurrency price actions but this to me is little more than coincident.
Six major cryptos is what I noticed, there could be more. I knew straight away that something fishy is going on. How come people possibly could make exactly same decisions at the exactly same time at the exactly same amplitude on different trading platforms trading multiple cryptocurrencies? Impossible!!! I've got my own theory but would like to know yours.
First thing that crossed my mind was Profit Trailer and other trading bots that people are using right now. There are plenty videos and adverts on YouTube. People are selling them, posting links and even sharing settings. Many people using same settings for the bots could easily influence the market in my opinion.
For a moment there I thought it also could be the Futures causing it but volume is not high enough and it would only apply to Bitcoin. Would it be Wall Street getting involve in Cryptocurrency trading and using their highly advanced trading bots ?
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The answers is simple. Whales are using bots to automatic balance theirs portfolios. It has nothing to do with CFD/Futures. The more money flows into crypto the more often you will see obvious bot trades. Some whale has set bot rule: when BTC down then buy alts or vice versa. If you have bot you can scalp really effective this way, you just have to be the first one who buy/sell.
Just relax and always when you see correlation between BTC move and some altcoins take it as an advantage on your next trade.
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A range of markets can vary between providers; some CFD brokers offer over 10,000 markets whereas others only about 1000 so it's important to compare the offers and choose the one which offers the right service and markets.
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