Topic: Incredibly high volume on BTC-e - Bot gone crazy? (Read 2330 times)

Just your run of the mill whale market manipulation. Nothing to be concerned about really, the game remains the same for us plebs.

When I last looked btc-e had over 40k bitcoin transactions, thats fucking huge for them. bitstamp had like 9k.. what the hell is going on? some major dumpers and some major buyers... Something is going on...

  Thank you bot or whale.
   Just bought 1 BTC at $480 . I hope the price drops a wee bit more. 

If you look at the Fibonacci fan lines from high of $668.42 down to $309 on the btc-e chart, it is quite obvious that if the price had remained above $500 for another 12-24 hours then the price would have broke through the final line.  (and there was some pretty strong resistance at $500 before that strange trading began). 

EDIT: Also I was just looking at the bitstamp chart, the fibonacci fan from high of $683.86 down to $442 was also approaching a crucial moment, the 38.2% retracement.     This trading happened at a pivotal moment in both bitstamp and btc-e price. Make of it what you will.

Yeah, that's what I - amongst a few others here - thought as well, but then again does it matter? Do the people over at BTC-e care usually? I guess the Mere Exposure Effect applies in any case! (https://en.wikipedia.org/wiki/Mere-exposure_effect)

If it were btc-e simply trying to boost trade volume i would expect it to build up much more naturally. Otherwise I really can't see how they would benefit from pulling a stunt like this!!!

Nice theories! I guess they may be true, but I think it's even more probable that it is some BTC-e-internal bot trying to get the trading volume higher in order to get more exposure for BTC-e (which they accomplished) and also appear in the first slot on Bitcoinity!

Btc-e past 24hr trade volume: 40,000btc

btc-e normal 24hr trade volume: ~4000 btc

Therefore, estimated extra volume:   40,000 - 4000 =  36,000btc extra traded

If we assume this was 2 malfunctioning bots, and with a trade fee of 0.2%, this would mean the wallet balance of the bot would only needed to contain 0.2% (1/500th) of the extra 36,000btc traded.

36,000 x 0.2% = 72btc

So from this calculation, if the malfunctioning bot theory is true then someone has just lost about 72btc... Although, I'm not to sure about that. Would it really have continued for over a day?


Another theory/possibility is that this trading was intentional, perhaps by a big whale trying to cause panic and a price crash before buying back in at lower price.  Although, for this be profitable you would have to first recoup the 72btc I calculated above.

So.... 72btc x $500 = $36,000 . Let's assume $36,000 was lost in fees to btc-e

As the price has only fallen $20 (4%), down to $480 since the "attack" started, this trader/manipulator would have to buy at least 1875btc ($900,000) worth of bitcoin to just marginally benefit from the new lower price he created, and to buy this quantity he would push the price right back up to above $500.  

Maybe they thought their actions would have a much stronger impact on the market price?? Or, maybe I'm completely wrong!

LTC/USD volume was also extremely high. It could have been an arbitrage play, or perhaps two dueling arbitrage bots.



The guy that wrote that article has no idea. He makes it seem like he knows, but he is just guessing like everyone else.

In time of big fluctuation, increase volume is expected as some think it is a bargain to buy at cheaper price.

And if selling continue, the recent buyer might just suddenly turn bearish and sell what they just bought and further increase more volume and bigger drop in price.

I think the bot just got switched off. Back to normal soon.

I don't think so. The volume is incredibly high. Also, the buying/selling seems to follow some very odd pattern and happens at a very fast pace. This ain't no manipulation by whales. It's a bot.

Maybe there are some whales trying to manipulate the market so the volume is high.

they'll just hack jpmorgan, goldmansachs, bankofamerica etc., but to be honest banning russia from swift will actually kill usd as a reserve currency, so no way usa will ever ban them, russians will go away themselves when their version of swift is ready

3) hoards of russian buyers and sellers not knowing what to do if they are blocked from SWIFT banking transfers

Could be:

1) Multiple bots fighting each other on trend.
2) Multiple bots "painting" the tape to create the illusion of resistance.

You do realize that the trading on BTC-e is some bot gone mad/awry/crazy or whatever!? We've had volatility for some weeks now again, but it just seems to be going down for the time being, which isn't a good sign.

Volatility is up, that means more people entering the market. Maybe even big money!

Willie has returned!

Only this time, he now works for Skynet.