BTC-E crash to $150! - page 4. | Bitcointalksearch.org

newb4now

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Quote from: jubalix on July 18, 2015, 08:29:41 AM

can not be a true sell by a rational actor, as they could get a much better price by using multiple exchanges....so basically meaningless.

I agree. Even if someone is broke and needs to raise fiat quickly there would seem to be better ways than to dump at those prices

Za1n

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Something else is going on there. I had left LTC long trades go overnight using their MT4 platform and they were all mysteriously closed, and not due to margin call, they were closed at $3.8501, $3.8500 and one 5 minutes later at $3.78. I also had a bunch of buy limit orders closed that were well below those prices, so even if it were a momentary spike down they should have filled. I didn't lose too much except the profit I was carrying on my longs, but it is very curious as the LTC side didn't really show anything abnormal. I had no positions open in BTC at the time to be impacted by the $150 drop.

I have a support ticket in requesting an explanation as I wasn't closed out due to margin or anything else that I can tell. At this point I suspect either someone was able to gain access to their system and execute a lot of sells or someone on the inside is up to something funny. In any event, I will be moving my funds out of there as soon as I hear back from BTC-e support. In the best case scenario they would re-instate my trades, but I am only expecting a boilerplate response so maybe should pull my money out now before anything else mysteriously happens.

elux

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Quote from: BlindMayorBitcorn on July 18, 2015, 06:21:02 AM

Speculations?

BTC-E did this.

Q7

sr. member

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Merit: 250

Well, I don't see the impact or how much damage it could cause with just one exchanger but usually a single crash wouldn't pull the price down for the rest of others. Unless you are talking about a panic sell or some traders taking advantage of the price difference to manipulate the market. Generally I would say it's the sentiment because sometimes people might take that as an indicator.

ElectricMucus

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Marketing manager - GO MP

Quote from: cinnamon_carter on July 18, 2015, 09:28:50 AM

if you are worried about price on a day to day or even monthly basis you probably should not be involved

Except the price tanked by an amount that only happens at a monthly timescale under normal circumstances

cinnamon_carter

legendary

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It's about time -- All merrit accepted !!!

if you are worried about price on a day to day or even monthly basis you probably should not be involved

White sugar

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just mr102 back for more fun

nothing to worry about, and it will forgotten before the weekend ends

belmonty

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Quote from: Wandererfromthenorth on July 18, 2015, 08:50:56 AM

Same thing that happened on August 2014.

Market maker or other any other major player dumps a big quantity of coins that wipes out an important portion of the whole orderbook which causes a margin cascade of longs closing. Considering that BTC-E being illiquid, this is highly profitable if he has shorts opened that he will soon close/already closed or longs/coins orders at around $150.

Being a shady as hell exchange I wouldn't be surprised if somebody from BTC-E is somewhat responsible himself, having insider info on where all the stops are placed and margin calls would be triggered.

Stop hunts and shenanigans happen in forex everyday, can't see how a shitty anon exchange for magic internet money would be any different.

This, or an Agora drug dealer or admin dumping because he wanted to buy a boat or something.
Still, the results (margin cascade) are the same.

The btc-e order book is so thin it wouldn't take that many coins to create a giant crash. On bigger exchanges with more liquidity it would take millions of dollars of coins to dump down to the same price. The only time it recently happened on the big exchanges was in the new year. Btc-e is not big enough to create a significant knock on effect on other exchanges.

AtheistAKASaneBrain

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"price crashes!"
Who fucking cares. Hold BTC and we'll be rich in 10 years, anything else and you are being delusional.

https://www.youtube.com/watch?v=_0mykANOMGQ

If you keep looking at a price with a tiny market that's heavily manipulated by whales instead of getting yourself informed and up to date with the technology you'll never make it. You will panic sell before things get mainstream and you'll have a lot of regret. Watch the video and stop caring about the price.
Do that and hold or panic sell already, your life your choice.

Wandererfromthenorth

hero member

Activity: 742

Merit: 500

Same thing that happened on August 2014.

Market maker or other any other major player dumps a big quantity of coins that wipes out an important portion of the whole orderbook which causes a margin cascade of longs closing. Considering that BTC-E is illiquid, this is highly profitable if he has shorts opened that he will soon close/already closed or longs/coins orders at around $150.

Being a shady as hell exchange I wouldn't be surprised if somebody from BTC-E is somewhat responsible himself, having insider info on where all the stops are placed and margin calls would be triggered.

Stop hunts and shenanigans happen in forex everyday, can't see how a shitty anon exchange for magic internet money would be any different.

This, or an Agora drug dealer or admin dumping because he wanted to buy a boat or something.
Still, the results (margin cascade) are the same.

jubalix

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can not be a true sell by a rational actor, as they could get a much better price by using multiple exchanges....so basically meaningless.

BlindMayorBitcorn

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Quote from: gentlemand on July 18, 2015, 06:49:53 AM

Quote from: ?? on ??

I understand BTC-E is the place to sell stolen coins. And this was a lot of coins...

Au contraire. They actually suspended withdrawals for a bit when the coins nicked from Evolution marketplace turned up there.

http://coinfire.io/2015/03/21/btc-e-suspends-withdraws-to-stop-stolen-coin-dump/

No idea whether it was effective.

Good point. I remember that. Well somebody wanted out. The fat-finger theory seems far-fetched.

Quote from: ?? on ??

read this news:
-redacted-

You scoundrel. Get yer sketchy links off mah thread Angry

Amph

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Quote from: kwukduck on July 18, 2015, 06:36:46 AM

Nothing left to say but "i told you so"...

These short deep crashes will start to occur more and more, first on btc-e, later they will shift to other exchanges.
Just look at the orderbook on btc, even a small dump will hammer the price now.
Sellers will want to move to other exchanges, causing demand there to plummet, the cycle repeats.

Don't say i didn't warn you guys about a huge upcoming crash after the last 'rally'.

btc-e is shady as fuck i would not trust them with my money, nor i would trust the value on their exchange, it could be for every unimaginable reason like they they are losing users and so they are artificially manipulating it

until it crash on every exchange, any other big negative peak count nothing

gentlemand

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Welt Am Draht

Quote from: ?? on ??

I understand BTC-E is the place to sell stolen coins. And this was a lot of coins...

Au contraire. They actually suspended withdrawals for a bit when the coins nicked from Evolution marketplace turned up there.

http://coinfire.io/2015/03/21/btc-e-suspends-withdraws-to-stop-stolen-coin-dump/

No idea whether it was effective.

Ibian

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Individual exchanges don't matter. The average price crashed 5 bucks. Woo.

kwukduck

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Nothing left to say but "i told you so"...

These short deep crashes will start to occur more and more, first on btc-e, later they will shift to other exchanges.
Just look at the orderbook on btc, even a small dump will hammer the price now.
Sellers will want to move to other exchanges, causing demand there to plummet, the cycle repeats.

Don't say i didn't warn you guys about a huge upcoming crash after the last 'rally'.

BlindMayorBitcorn

legendary

Activity: 1260

Merit: 1116

Speculations?

Topic: BTC-E crash to $150! - page 4. (Read 6146 times)