A dramatic title for sure.. but as anyone who trades knows, there are bots doing a majority of the trades on the various exchanges. These trades happen thousands of times a second.. so it is not often we get a chance to see the strategy of some of these bots..
However, yesterday I manage to capture a screenshot of a bot attempting to pull down the value of Ethereum. Look at the top sell order below. Order placed significantly lower that any other sell order with the minimum amount allowed.
My guess is that they had a number of these sell trigger points in play with a much larger buy order at very close or the same price point.
These trades would happen instantly and the price would bounce back up again quickly..
Be careful out there.. do not panic and realise that in a normal day it is the bots that are playing the market. I myself have played with a bot that allowed me to place up to 300 trades a second!!
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thats why i wish this market was regulated, stock exchanges would sell it and help the market grow, and bots wouldn't be able to make lightspeed trade decisions
Bots exist in all markets. The stock exchange works even faster than crypto markets. The stock exchange is just a platform as well. On the stock exchange it is called 'algorithmic trading'. The stock exchange is very corrupt as well.
Watch this documentary.. it is fantastic: http://topdocumentaryfilms.com/wall-street-code/
Are you saying that the bots are only capable of making small changes to the market or could they, if programmed/instructed to do so, crash it?
A bot with enough money behind it could crash it.. but as you have seen before the market does correct itself pretty quickly. However, I would advise people to be aware that this happens all of the time.. Do not trade with margins.. and if you are in for the long haul.. do not worry about the ups and downs.
Bots are doing the majority of the trades, thats completely true!
Never panic! Feelings cant trade.
Bots, algo trading, it's all the same, except the big corporations pay millions of dollars just to be physically closer to the backbone just to get their trades in a millisecond faster, and then you factor in the fact they are algo trading and you have to admit it, it's a rigged game and not in your favor.
Honestly IMO, I like raw silver I hold in my secret place... lol
-my possession, liquid as cash, most undervalued asset on earth, except maybe an ICO :-)
thanks for sharing this!
You are welcome. Feel free to resteem to help spread.
Bots are competing. AI wars! This it's evolution also since only the best bots will be continued. In turn the future of ethereum depends on how it serves the bots. It must be antifragile.
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