Whenever we get near 200 its like the ghost of the flash crash is up there lurking and creating this panicky crash energy where a whole bunch of asks show up and bids are hit hard and deep. This is twice that gox and btce have dropped 15 in the bat of an eye (bit stamp 10). I fear its only going to going to get worse as we go higher. And this is without any whales even capitulating. How do you guys handle this with your nerves or get any sleep? I've tried shorting these movements a few times only to lose tiny fractions of my position and waste an entire weekend. But the one time I don't bother will probably be when the whales finally capitulate.
There isnt enough depth to market sell. Unless something bad happens [not just "omg booobblee"], it shouldnt drop to sharply without a rebound.
I mean, 10k sell brings price down $20. 20k, $43; 30k, $60.
You'd need some real panic for people to sell in that kind of depth. If you see an ask wall, then panic
Whenever we get near 200 its like the ghost of the flash crash is up there lurking and creating this panicky crash energy where a whole bunch of asks show up and bids are hit hard and deep. This is twice that gox and btce have dropped 15 in the bat of an eye (bit stamp 10). I fear its only going to going to get worse as we go higher. And this is without any whales even capitulating. How do you guys handle this with your nerves or get any sleep? I've tried shorting these movements a few times only to lose tiny fractions of my position and waste an entire weekend. But the one time I don't bother will probably be when the whales finally capitulate.
This market historically has seen around 1000% per year increase. Do you really think you're a good enough trader to beat 1000% a year?
Hm, no. But do I think bitcoin will grow 1000% a year? No.