There's a nice arbitrage opportunity between Cryptsy and Poloniex now 10% spread
There is always cheese in the mouse-trap.
I don't see that as an opportunity, the risk factor is far too high. I stopped trading there months ago as the writing was on the wall. Look at the spreads between cryptsy and other exchanges, it signifies people cannot withdraw btc and are having to buy alts and withdraw. Who knows when the alt wallets will run out? Not me, but I'll not be there to experience it and I suggest anyone trading there significantly reduce their exposure to Cryptsy.
On the topic of price, some new people may be confused as to why its going down, there could be a few reasons:
1. Profit taking from the recent price rise and continuation of the price cycle.
2. Bitcoin in uptrend (this always causes alts to dump)
3. Sell on the news from the hardfork.
40-42 is a strong support level, look back at previous months, if this fails then we will be back to the low 20s (where I will buy more). My personal plan with Digibyte is to keep 10% and not sell for a few years, I kept hold of this 10% I bought at 20S@ in November 2014 through 2 pumps, the rest I actively trade. I bought more at 41-43 s@ and still have unfilled orders sitting there on trex (please fill
).
I would strongly recommend anyone new to do some research on trading as it will help a lot and save you some grey hair. A good book I read on handling your psychology is "The mental game of Poker" by Jared Tendler (Different Jared). Although it's about poker it is transferable to trading.
