RE: How to Fake a Top 100 Alt Coin Chart.

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How to Fake a Top 100 Alt Coin Chart.

in ico •  7 years ago 

I'm sorry to disappoint/disagree with you, but that activity is something known as "margin bots".
They do constantly sell/buy tokens at a low amount. And they'll always outbid you by 1 satoshi whenever you try to buy/sell something.
They make money by you being impatient, they force you into buying, suprise suprise, their position. Any coin with a decent trading volume has them, and quite often more than one.
Usually those bots follow the trend however In general I'd say they're always driving price down.

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Thanks for your thoughts. To me these bots seem to be moving a significant volume of traffic. In the above screen shots you can see thousands of dollars of volume. Is this normal for margin bots? I suppose this could be the result of different bots crossing (using different strategies.) but it still seems very weird.

Well, exactly 5 days ago something strange did indeed happen at bittrex - some people say it was upBit buying alts at a discount from bittrex, some say it was bittrex moving alt fees into BTC, some say it was just a colossal mistake. It's still not clear what happened.
So yes, it does seem very strange, but if you check data 1, 2, 3 months old it will be much less wild.