How bots are manipulating cryptocurrency prices
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So, I started using Bittrex yesterday for trading and I've noticed that there's some serious automated bidding going on on the platform which one can easily point out as behavior of a bot. Specifically, for the following coins in the Ether market I've noticed that some of the bids are automated you can tell by the behavior:.
On either side of the trade whether you're bidding or askingif you specify a price, let's say 0. Other things to notice here if neo trade bots have a keen eye is that:. These "automated" trades that pop up usually have the same amount of coins they're bidding for.
They keep canceling their book order as soon as it's about to be fulfilled, or they keep on outbidding the old bid effectively driving the neo trade bots up or down on either end of the trade. This to me is a sign of caution, especially because your money stays stuck in the neo trade bots for a good while as outmatching neo trade bots bot bids are quite impossible, and it doesn't help that them outbidding us drives the price up and down. I've already contacted Bittrex support asking them about this.
I actually really like their platform but if they're somehow involved I would stay away from them. There's something shady about almost all companies related to Cryptos. Seems like most of them are out to make a quick buck scamming people and ripping them off. Neo trade bots I will wait neo trade bots their reply before passing judgement on Bittrex. Let's hope if they're not involved, they can at least put in place a mechanism to get neo trade bots of these bots, or ban such behavior entirely.
It's funny you say that. I came across this article today. Not sure if I can neo trade bots links in replies. Scroll down to get to the part about Bittrex. The only reason I have a Bittrex account is Antshares Neo. And I wouldn't be surprised if there's some serious market manipulation going on. I've been witnessing and complaining about these things myself. After all, that was the whole point of blockchain tech.
And I would imagine it's not something hard neo trade bots conceptualize and pull off for the right people, they could perhaps create a proof of stake blockchain where funds are secured and verified by people who have a lot vested in the system. I also started trading on Bittrex, however, do not feel you have neo trade bots buy on the ask price, the idea is to buy low and sell high. So put your offer in much lower than the current trades, when your number comes up and it will believe me you will go in and you will also sell quicker, because your profit margin is lower than the market initially.
And remember, do not sell when you see the coin going down, it will recover. If there is no volume, then you will take longer to sell. There are bots on every exchange. They all have open APIs specifically so that bots can integrate with them. This has nothing to do with Bittrex. Bots are not even bad. Bots help equalize the prices between exchanges via arbitrage trading. We are looking for Bot Builders http: Specifically, for the following coins in the Ether market I've noticed that some of the bids are automated you can tell by the behavior: Other things to notice here if you have a keen eye is that: Authors get paid neo trade bots people like you upvote their post.
One of the reasons I am not a fan of Bittrex.