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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17189. (Read 26609012 times)

legendary
Activity: 1862
Merit: 1530
Self made HODLER ✓


Ok yeah I see what you mean.

I'll try Bitstamp then, it's not really for the best to stay on a trading platform with such problems xD

It's not that I am vouching for Bitstamp either, considering the risks any and all trading platforms present. I am just talking about my personal experience/incidents or lack thereof.

Can you tell how many BTC were bought/sold in that huge spike to 2082€? According to the order books, it should take a massive order of almost 2000BTC to reach this price now. According to the charts, that did not happen (the volume in those spikes was about 100BTC). Therefore it was not a massive bought order but some kind of bug/error in their API. Dont you think so?


That does seem to be a likely explanation. Looking at the 5m chart, there seem to be two separate spikes above 2000Eur but both with rather low volume (100BTC)

Of course it was a "small" order that produced that spike BECAUSE IT BYPASSED THE ORDER BOOK.

But the problem is not in the API:


XBT/EUR

    Last
    €1,894.680
    High
    €2,082.958

    Low
    €1,757.400
    24 Hour Volume
    25,936.77
    Weighted Avg
    €1,879.344

There was real coins being bought at that price... but not from me or others even if we had lower sell limit orders in place way before that spike happenned. (days).

So the question is... who was the fortunate guy that sold them at that high price BYPASSING THE ORDER BOOK?

I was watching Kraken at that time.  I was waiting in a queue for two hours and had very little to do except keep refreshing all my coin charts, including the Kraken app.  I did not see that price reached or any unusual fluctuations in the price.  I do not believe it was real, or if it was it must have been so momentary that no other prices were hit in between.  A fat-fingered buyer perhaps?  Someone who thought they were trading USD instead of EUR??

It could be a fat finger or most probably a short squeeze. That doesn't matter... the price reached 2082€ (as you can see on kraken site itself as high price today), I had sell limit orders placed on the ORDER BOOK from several days ago at 19XX€ which should have been honored. The price cannot reach higher without honoring orders in the order book. It's as simple as that.

Even if the site became unusable during that spike, orders already in the order book BEFORE the fat-finger/short squeeze must be honored (My orders were there from several days ago). YOu can even halt the trading for some issue, but the price cannot get higher without honoring previous lower orders. That's how an order book (should) works.

I also had a sell limit order today that did not execute but should have, at 12:51 GMT+2. I saw the chart, new my order should've executed, went to Kraken to go place a buy order, but no joy.

I have opened the issue not only on a support ticket but also in the Kraken thread:

https://bitcointalksearch.org/topic/m.19153025

Please contribute as I am sure there are many people affected by this issue.
legendary
Activity: 3780
Merit: 5429
oh look a new ATH how nice.

yeah.

great.

I s'pose.
We are so jaded....

TBH, we are now just getting to a price level that I thought we'd be at in late 2014. I'm sure other longs feel the same. We long term hodlers have always known bitcoin was WAYYYY undervalued.

It just took the rest of the world 4 years to catch up. What took them so long? And I don't even think 99.9999% of people with bank account access have even signed up to buy some yet. We are still very early adopters.
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
At least Ethereum must be added, in my opinion.

Ethereum is bitcoin number two right now.

Check the wording though. It's commodities. I don't think anyone anywhere regards Ethereum as a commodity. Enough people regard Bitcoin that way at present. Right now Ethereum qualifies as more of a share/stock than anything.

This is why I find the anxiousness about it matching Bitcoin's valuation pretty daffy. They're not really the same thing and never will be.
newbie
Activity: 56
Merit: 0
And Kraken just did it again. Spike to 2060Eur and my limit order not being honored.

chinese whales getting fatty into polo ====> stay tuned  Cool $3333
sr. member
Activity: 293
Merit: 250
    ....  Cheesy  welcome to the pump-not real world  "neo-holder"
legendary
Activity: 1133
Merit: 1163
Imposition of ORder = Escalation of Chaos
And Kraken just did it again. Spike to 2060Eur and my limit order not being honored.
legendary
Activity: 1834
Merit: 1520


Australian TV last night. How odd to see this. I wonder when if and when it'll become the standard thing to throw in there.


Gee, they're not showing altcoins. I wonder why?  Roll Eyes

Slowly but surely Bitcoin is thrusting itself into the mainstream worldwide.

Geeks may quibble about altcoins, scalability, development politics etc. Meanwhile the masses are just beginning to learn about crypto and they know it as Bitcoin.

At least Ethereum must be added, in my opinion.

Ethereum is bitcoin number two right now.
newbie
Activity: 56
Merit: 0
https://i.imgur.com/TwcE8IL.jpg

Australian TV last night. How odd to see this. I wonder when if and when it'll become the standard thing to throw in there.


Gee, they're not showing altcoins. I wonder why?  Roll Eyes

Slowly but surely Bitcoin is thrusting itself into the mainstream worldwide.

Geeks may quibble about altcoins, scalability, development politics etc. Meanwhile the masses are just beginning to learn about crypto and they know it as Bitcoin.


TWTR(twitter) buy the dip most btc hypesters like magical tux run game on TWTR Cool btc & twtr nuezzz
legendary
Activity: 4200
Merit: 4887
You're never too old to think young.


Australian TV last night. How odd to see this. I wonder when if and when it'll become the standard thing to throw in there.


Gee, they're not showing altcoins. I wonder why?  Roll Eyes

Slowly but surely Bitcoin is thrusting itself into the mainstream worldwide.

Geeks may quibble about altcoins, scalability, development politics etc. Meanwhile the masses are just beginning to learn about crypto and they know it as Bitcoin.
newbie
Activity: 56
Merit: 0
Good morning Bitcoinland.

Yesterday's correction was a good one... $230, but we still went on to a new ATH today... currently $2247USD/$3027CAD (Bitcoinaverage).

Love this self-correcting uptrend with no end in sight. Keep 'er coming.



GOOOOOD mawning Sir! ===> bitcoin breaking out on enormous news Cool $4000 next level imho<<<<
sr. member
Activity: 354
Merit: 250
We have a new ath everyday, i love this month
legendary
Activity: 2590
Merit: 3015
Welt Am Draht


Australian TV last night. How odd to see this. I wonder when if and when it'll become the standard thing to throw in there.
legendary
Activity: 4200
Merit: 4887
You're never too old to think young.
Good morning Bitcoinland.

Yesterday's correction was a good one... $230, but we still went on to a new ATH today... currently $2247USD/$3027CAD (Bitcoinaverage).

Love this self-correcting uptrend with no end in sight. Keep 'er coming.

legendary
Activity: 3164
Merit: 2258
I fix broken miners. And make holes in teeth :-)
newbie
Activity: 56
Merit: 0
oh look a new ATH how nice.

yeah.

great.

I s'pose.

Now even bearstamp's caught up and hit a new ATH. If bearstamp's at an ATH all the other exchanges must have hit ATHs ages ago. This could be the start of a pump to $2300.

https://s21.postimg.org/ywctf4lbr/bitstamp.png

KABOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOMMM ===> Wall Street Cool  $5000 soon ~woof!
legendary
Activity: 1652
Merit: 1029
remember $2000? we're 1/4 of the way to $3000 already. (we'll be there momentarily).

also, my theory that finex has run out of fiat hodls true. it is lagging behind stamp more and more often these days.
legendary
Activity: 2772
Merit: 2846
oh look a new ATH how nice.

yeah.

great.

I s'pose.

Now even bearstamp's caught up and hit a new ATH. If bearstamp's at an ATH all the other exchanges must have hit ATHs ages ago. This could be the start of a pump to $2300.

newbie
Activity: 56
Merit: 0
oh look a new ATH how nice.


sells farm goes all into bitcoin Cool *here we go HERE WE GOOOOO ====> THIS IS ITTTTTTTTTTT!!!! Smiley
hero member
Activity: 1132
Merit: 818


Ok yeah I see what you mean.

I'll try Bitstamp then, it's not really for the best to stay on a trading platform with such problems xD

It's not that I am vouching for Bitstamp either, considering the risks any and all trading platforms present. I am just talking about my personal experience/incidents or lack thereof.

Can you tell how many BTC were bought/sold in that huge spike to 2082€? According to the order books, it should take a massive order of almost 2000BTC to reach this price now. According to the charts, that did not happen (the volume in those spikes was about 100BTC). Therefore it was not a massive bought order but some kind of bug/error in their API. Dont you think so?


That does seem to be a likely explanation. Looking at the 5m chart, there seem to be two separate spikes above 2000Eur but both with rather low volume (100BTC)

Of course it was a "small" order that produced that spike BECAUSE IT BYPASSED THE ORDER BOOK.

But the problem is not in the API:


XBT/EUR

    Last
    €1,894.680
    High
    €2,082.958

    Low
    €1,757.400
    24 Hour Volume
    25,936.77
    Weighted Avg
    €1,879.344

There was real coins being bought at that price... but not from me or others even if we had lower sell limit orders in place way before that spike happenned. (days).

So the question is... who was the fortunate guy that sold them at that high price BYPASSING THE ORDER BOOK?

I was watching Kraken at that time.  I was waiting in a queue for two hours and had very little to do except keep refreshing all my coin charts, including the Kraken app.  I did not see that price reached or any unusual fluctuations in the price.  I do not believe it was real, or if it was it must have been so momentary that no other prices were hit in between.  A fat-fingered buyer perhaps?  Someone who thought they were trading USD instead of EUR??

It could be a fat finger or most probably a short squeeze. That doesn't matter... the price reached 2082€ (as you can see on kraken site itself as high price today), I had sell limit orders placed on the ORDER BOOK from several days ago at 19XX€ which should have been honored. The price cannot reach higher without honoring orders in the order book. It's as simple as that.

Even if the site became unusable during that spike, orders already in the order book BEFORE the fat-finger/short squeeze must be honored (My orders were there from several days ago). YOu can even halt the trading for some issue, but the price cannot get higher without honoring previous lower orders. That's how an order book (should) works.

I also had a sell limit order today that did not execute but should have, at 12:51 GMT+2. I saw the chart, new my order should've executed, went to Kraken to go place a buy order, but no joy.
legendary
Activity: 1862
Merit: 1530
Self made HODLER ✓

This is an old problem ... I am guessing that what has happened is..


That your stop is in fact converted into a limit order - whereby your stop and limit are at the same (or very close) price.


If your stop-loss order was converted to a limit order, and if the exchange was unable to sell at that price as the price had already dropped through that level,  then your order would not get executed...


I have removed the rest of your message as it is based on a wrong premise. No, it was not a stop-loss order. I learned not to ever use stop-orders on Kraken as they simply don't work as intended (exactly as you are describing). I underatand stop loss orders are NOT on the order book until they get triggered and inserted (whenever that happens) in the order book. This has NOTHING to do with that.

It was LIMIT ORDERS, opened several days in advance, already on the order book that HAVE NOT BEEN EXECUTED YET THE PRICE HAS KEPT RISING ABOVE THEM.

When I say the trading engine/order book in Kraken is broken I really mean it. There is absolutely no technical explanation to this. The only doubt I have is WHO profited from it.


I do not deny that they could have problems with their engine


But I think .... my explanation may be a little confusing .. or I may be missing something but ...

Limit orders by their very nature are not guaranteed -  

 If the market price moves too quickly - then anyone with a limit order with priority over your own (placed before yours and therefore further up the list) will get filled first, as will anyone else in front of you on the list  - BUT ONLY AS LONG as there are enough sellers remaining (asks also get pulled) in that price range will your order get filled... if the price moves past your Limit - (and does not fall back to it) then it wont get triggered  as your Limit order has specified the price you are willing to pay- unless the price falls back down to that range again, then your Limit would not get filled as the price has moved past it- and the reason your order didn't get filled is because the Limit orders in front of yours got filled in the time while you were waiting for yours to trigger, and then the price moved past your limit, and market and limit orders at that level are now getting triggered - this is common among all trading platforms (I got stung hard on a leveraged Gold position I had many moons ago).  



Again, that description you are giving is of stop-loss or stop-loss triggered limit orders. Nothing to do with that I am talking about.

When you have a limit order on the order book, ie: an ask at 1995€ for 1BTC. There is no way price should rise higher than 1995€ without honoring your sell order at 1995€ limit. No, the price can't reach 2082€ if I have sell orders already on the book (since several days before) for much less than that price.

Otherwise the order book would have no reason to exist and the exchange would just pair orders however they feel like.... ie: matching orders with their way higer ones ignoring more favourable ones for the buyer. That's nonsense.

Again, if you are describing how stop loss limit orders behave, yes, that's correct, but that's not the case here, otherwise it would be a non issue.
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