Why so much money in HOT and what does it mean

Red-Apple

hero member

Activity: 1470

Merit: 655

Quote from: forestx on December 14, 2018, 09:08:56 AM

while less money for people wanting to buy

160 bitcoin is indeed less than 192 but they are both high enough that you can't really say there is less money in buy orderbooks! it is still pretty huge.

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What does that tell us about the market and if its possible to trade off it

i am not familiar with this particular coin but if it is really that "hot" then as dinoloverpete said it is because it has a low price. similar to Doge these coins have the potential of being super profitable when they are pumped sine it is always easier to pump a coin from something like 0.00000010 to 0.00000100 than it is to pump it from 0.01000000 to 0.100000000. both pumps are 10x pumps but the first one is super easy in comparison.

dinoloverpete

full member

Activity: 308

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Quote from: Obiwankenodium on December 14, 2018, 01:38:45 PM

Quote from: dinoloverpete on December 14, 2018, 11:03:18 AM

Quote from: forestx on December 14, 2018, 09:08:56 AM

Just looking HOT or HOLO on Binance
In the last 4 weeks or so it has traded between 0.00000012 and 0.00000014
Trading volume last 24 hrs 74btc but there seems to be Huge figures in the trading book like at 192btc at 0.00000014 70btc at 0.00000016
while less money for people wanting to buy we still have large amounts 160btc at 0.00000012 and 58btc at 0.00000010

What does that tell us about the market and if its possible to trade off it

Given the low satoshi price there's always a high margin to trade. If you can buy and sell at current market prices you can make something like 7%. Therefore if the price is stable it's a great place to trade and profit.

the hard thing is in the current market to be sure its stable. If you dont get your sell order filled you can make a loss of 7% or more if prices go down.

Yah, I didn't say it was easy, just explained the reason for the deep orderbook and high volume. The other thing to try is making sure that your order is one of the first ones filled if there is a change in price. I used to use this technique frequently with coins under 100 satoshi but on bittrex instead of binance.

Obiwankenodium

copper member

Activity: 322

Merit: 15

Quote from: dinoloverpete on December 14, 2018, 11:03:18 AM

Quote from: forestx on December 14, 2018, 09:08:56 AM

Just looking HOT or HOLO on Binance
In the last 4 weeks or so it has traded between 0.00000012 and 0.00000014
Trading volume last 24 hrs 74btc but there seems to be Huge figures in the trading book like at 192btc at 0.00000014 70btc at 0.00000016
while less money for people wanting to buy we still have large amounts 160btc at 0.00000012 and 58btc at 0.00000010

What does that tell us about the market and if its possible to trade off it

Given the low satoshi price there's always a high margin to trade. If you can buy and sell at current market prices you can make something like 7%. Therefore if the price is stable it's a great place to trade and profit.

the hard thing is in the current market to be sure its stable. If you dont get your sell order filled you can make a loss of 7% or more if prices go down.

liuqi

sr. member

Activity: 1092

Merit: 257

LuckyB.it is Back!

Quote from: dinoloverpete on December 14, 2018, 11:03:18 AM

Quote from: forestx on December 14, 2018, 09:08:56 AM

Just looking HOT or HOLO on Binance
In the last 4 weeks or so it has traded between 0.00000012 and 0.00000014
Trading volume last 24 hrs 74btc but there seems to be Huge figures in the trading book like at 192btc at 0.00000014 70btc at 0.00000016
while less money for people wanting to buy we still have large amounts 160btc at 0.00000012 and 58btc at 0.00000010

What does that tell us about the market and if its possible to trade off it

Given the low satoshi price there's always a high margin to trade. If you can buy and sell at current market prices you can make something like 7%. Therefore if the price is stable it's a great place to trade and profit.

This is the only problem in recent days, most of the whales are involve in high margin trading so daily market is stay in lift. Because it will move to forward and backward so decent profit is possible on high value trading. Now we need some legalisation of Bitcoin then only market is move to normal.

dinoloverpete

full member

Activity: 308

Merit: 105

Quote from: forestx on December 14, 2018, 09:08:56 AM

Just looking HOT or HOLO on Binance
In the last 4 weeks or so it has traded between 0.00000012 and 0.00000014
Trading volume last 24 hrs 74btc but there seems to be Huge figures in the trading book like at 192btc at 0.00000014 70btc at 0.00000016
while less money for people wanting to buy we still have large amounts 160btc at 0.00000012 and 58btc at 0.00000010

What does that tell us about the market and if its possible to trade off it

Given the low satoshi price there's always a high margin to trade. If you can buy and sell at current market prices you can make something like 7%. Therefore if the price is stable it's a great place to trade and profit.

forestx

jr. member

Activity: 172

Merit: 7

Just looking HOT or HOLO on Binance
In the last 4 weeks or so it has traded between 0.00000012 and 0.00000014
Trading volume last 24 hrs 74btc but there seems to be Huge figures in the trading book like at 192btc at 0.00000014 70btc at 0.00000016
while less money for people wanting to buy we still have large amounts 160btc at 0.00000012 and 58btc at 0.00000010

What does that tell us about the market and if its possible to trade off it

Topic: Why so much money in HOT and what does it mean (Read 193 times)