Beware: Bitcoin Price Action Mimics Market Maker Model
Bitcoin price just plunged once again from over $11,000 and is currently holding around $10,500. The support level could just be a quick pitstop before the selloff continues, according to the recent price action resembling the “market maker profile sell model.” If the cryptocurrency continues to follow the projected path this particular model predicts, Bitcoin […]
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Bitcoin exchange Kraken recently announced that they will be reducing transaction fees incurred in trades, as they are moving towards a "maker taker" fee model. This means that market makers will be able to provide the liquidity to "takers" or traders. The company shared its revised fees in its latest blog post and said that this new model will reward market makers for providing liquidity to the bitcoin exchange market. The maker fee applies when a user adds liquidity to the Kraken order book by placing a limit buy below market price or a limit sell above market price. The maker fee is....
Bitcoin conferences and events are not only a great opportunity to meet like-minded people, but also for startups to looks for potential investors. Most conferences will have a dedicated timeslot for Bitcoin startups to show what they have to offer. But is this approach right or wrong? The maker movement is facing a completely different economy model,....
Today marks a special day: The first day that newcomer international Bitcoin exchange OKCoin.com has had a higher daily Bitcoin volume than all other exchanges. In the last 24 hours, OKCoin.com has transacted nearly 16,000 BTC, compared with Bitstamp's ~14,700 BTC and Bitfinex's ~15,100 BTC. OKCoin.com is the international arm of OKCoin. OKCoin also runs OKCoin.cn, a Chinese Bitcoin exchange that also has high volume CNY/BTC trading but does not charge fees (the Chinese norm). Whether or not OKCoin's lead in 24-hour Bitcoin volume will persist until tomorrow is anybody's guess. However, it....
Bitcoin price (BTC) is down $2,000 from yesterday’s high set right around the time that Coinbase Global (COIN) went live on Nasdaq. The price action frighteningly mimics a fractal flashback from the CME futures launch that put the top in around late 2017 and started the bear market in cryptocurrencies. Is this just crypto winter […]
Mark Twain said that history doesn’t repeat, but it often rhymes. Such a scenario could be about to play out in Bitcoin, according to a potential fractal that mimics the setup before a previous record-breaking rally. While the conditions aren’t quite the same for an exact repeat, there could be enough for the price action now and then to rhyme just enough. Let’s take a closer look. Record-Breaking Bitcoin Price Fractal Found, But Is It Valid? Markets are cyclical and patterns repeat in those markets so often, they can be used to predict the future. Most of the....