about whales entering and leaving exchange - page 2.

TravelMug

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Quote from: mrkfdr on May 19, 2020, 10:47:39 AM

I found in a post here few days ago a website called whale-alert.io where one of the data's i can get is transactions of large amount of BTC to an exchange.

I'm familiar with this twitter account, but I haven't follow, it just messed up everything, including your trades.

Quote from: mrkfdr on May 19, 2020, 10:47:39 AM

here is the question,
Lets say i get a message that there is a transaction of 100BTC to the exchange i'm currently using.
I can assume that it can affect the trade in some way ,
can look for changes in this amount of BTC in the order book but is this info can tell me somehow if the intention of the whale is to pull up or down the market ?
How reliable this type of data can be ?
Same scenario can be of leaving the exchange..

Obviously, there are some bad intentions from behind, but just like I said, don't bother to look at this whale alert or something. You will be good in trading without it. Don't be affected by it, trade at your own pace and not let someone influence you, just saying.

exstasie

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Quote from: mk4 on May 19, 2020, 10:27:44 PM

Deposit: most likely a sell offer some time in the future

Margin exchanges add a whole other layer of obscurity: whales may be depositing coins to back a margin long position. It can be dangerous to assume they are dumping. They may be doing the opposite.

This applies to many of the larger exchanges. Bitmex, Binance, Bitfinex, Kraken, Coinbase Pro, etc.

mk4

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Quote from: mrkfdr on May 19, 2020, 10:47:39 AM

I can assume that it can affect the trade in some way ,
can look for changes in this amount of BTC in the order book but is this info can tell me somehow if the intention of the whale is to pull up or down the market ?

You can freely see all the buy/sell offers on exchanges as order books are open anyway, but you won't know who made that buy/sell offer. You can only make your own assumptions:

Deposit: most likely a sell offer some time in the future
Withdrawal: probably an exchange hack, or a person simply withdrawing funds to their own non-custodial wallet or to another exchange

Kelvinid

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I hope we are aware of this and whales could actually manipulate our minds the same thing as they could able to manipulate the market.
100BTC? Thought that whales are making out from crypto. maybe we are wrong but it might probably just a transfer to another exchanger. For this, I say that it never gives a huge market effect in the market but rather to see a normal case scenario. Yet, it happens multiple times since before.

cytpoway121

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Quote from: mrkfdr on May 19, 2020, 10:47:39 AM

I found in a post here few days ago a website called whale-alert.io where one of the data's i can get is transactions of large amount of BTC to an exchange.

here is the question,
Lets say i get a message that there is a transaction of 100BTC to the exchange i'm currently using.
I can assume that it can affect the trade in some way ,
can look for changes in this amount of BTC in the order book but is this info can tell me somehow if the intention of the whale is to pull up or down the market ?
How reliable this type of data can be ?
Same scenario can be of leaving the exchange..

Most times when huge amount of funds are deposited into exchange platform, it doesn't neccessarily mean that the buy orders of bitcoin will increase drasticallly, there are several reasons to deposit, it could be to buy immediately, or wait for a bear market, or place a buy order.

With so many tokens listed on an exchange, it is difficult to know which and which will be selected for purchase.
Yours is to dyor, follow market emotions, and make your trades.

pakhitheboss

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There can be many reason associated to the movement of large sum of BTC. It is not possible to point out what reason has caused such a movement. I would not recommend any one to follow such website to decide your trading strategies. I think it is better to check other sources like news and current trends to analyse Bitcoins movement.

dunfida

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Quote from: adzino on May 19, 2020, 04:50:51 PM

I don't think there is actually any way to understand what that "whale" wants to do. You shouldn't predict whats going to happen to your investment based on those movement. Your predictions might be wrong and you might end up making huge loss. There are thousands of bitcoins entering and leaving an exchange, I wonder how they know that those funds belongs to a "whale".

And also you wont able to know if those BTC would be either traded with some alts or whatsoever thats why tracing it up would really be hard.
I dont know why people are really that much concern on whale moves yet identifying which one would really be hard.Lets say there are indeed some
alerts, then whats next? As said there are huge volumes of btc incoming and outgoing ones and identifying a particular whale move
is nearly impossible.

adzino

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I don't think there is actually any way to understand what that "whale" wants to do. You shouldn't predict whats going to happen to your investment based on those movement. Your predictions might be wrong and you might end up making huge loss. There are thousands of bitcoins entering and leaving an exchange, I wonder how they know that those funds belongs to a "whale".

Twentyonepaylots

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I don't think such data will benefit your trading lifestyle, in fact it might just ruin your game plan in trading why? because a big movement in the market will give you a direct reason to move also. On top of that being alerted to this thing, if it alerts you then most probably it is being executed at the moment, meaning there is a small amount of time or no time to react at all. @Avikz is right, it's better to trade on your own capacity, try not to rely on this kind of data services or at least be wary.

avikz

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Quote from: mrkfdr on May 19, 2020, 10:47:39 AM

I found in a post here few days ago a website called whale-alert.io where one of the data's i can get is transactions of large amount of BTC to an exchange.

here is the question,
Lets say i get a message that there is a transaction of 100BTC to the exchange i'm currently using.
I can assume that it can affect the trade in some way ,
can look for changes in this amount of BTC in the order book but is this info can tell me somehow if the intention of the whale is to pull up or down the market ?
How reliable this type of data can be ?
Same scenario can be of leaving the exchange..

I personally wouldn't use any such data for my own trading. Also wouldn't encourage anyone to do so. Because what you will do with the high value transaction data unless you know the mindset of the owner of such transaction? By the time you see his intention in order book, the Trade is already lost.

Use your own intuition and try to learn various trading strategies. There's no quick way to get rich!

electronicash

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how accurate is the information flowing in whale-alert.io? looking for changes in the order book must be hard to do if its not even accurate. probably not a reliable data.
i don't know if anyone is actually using its data to watch the market and do something to profit.

there could be a lot of things that will happen when you see some information in that whale-alert.io. transaction like 1000BTC from bittrex to binance, i don't know how to react to that since it likely from a guy who does arbitrage. or he could be buying some altcoins not found in bittrex? 1000BTC from unknown wallet to binance. does it mean this guy is going to dump? i wouldn't disregard charts all because of those info.

mrkfdr

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I found in a post here few days ago a website called whale-alert.io where one of the data's i can get is transactions of large amount of BTC to an exchange.

here is the question,
Lets say i get a message that there is a transaction of 100BTC to the exchange i'm currently using.
I can assume that it can affect the trade in some way ,
can look for changes in this amount of BTC in the order book but is this info can tell me somehow if the intention of the whale is to pull up or down the market ?
How reliable this type of data can be ?
Same scenario can be of leaving the exchange..

Topic: about whales entering and leaving exchange - page 2. (Read 266 times)