WSJ: Coordinated crypto ‘Trading Groups’ gained $825 Million in 2018 through market manipulations.
Wall Street Journal study reports that trading groups in social services such as Telegram are to blame for the substantial part of cryptocurrency price manipulations. The WSJ claims that ‘Pump and Dump’ schemes, coordinated in private group chats, generated revenues of $825 million in the first six months alone.
Pump and Dump is a scheme that artificially inflates an asset’s price and then the participants of the scheme sell the coin off at higher prices. People usually agree to buy a certain coin at the same time which results in pumping the price straight up. Dumping begins when the individuals sell off the asset with a huge profit.
Wall Street Journal study reports that trading groups in social services such as Telegram are to blame for the substantial part of cryptocurrency price manipulations. The WSJ claims that ‘Pump and Dump’ schemes, coordinated in private group chats, generated revenues of $825 million in the first six months alone.
Pump and Dump is a scheme that artificially inflates an asset’s price and then the participants of the scheme sell the coin off at higher prices. People usually agree to buy a certain coin at the same time which results in pumping the price straight up. Dumping begins when the individuals sell off the asset with a huge profit.
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Bitcoin is back to mid-July level after SEC postpones deadline on VanEck Bitcoin ETF decision. BTC is trading at $6,300 level, ETH at $350. 98 out of top 100 coins see red. BTC dominance has increased to 49%.
Ethereum price is taking a massive hit. What’s next?
BTC lost nearly 10% of its value over the past week, whereas ETH lost 23% of it’s price and is now trading around $320. Since the beginning of the year, the second-largest cryptocurrency lost more than a half of it’s value. Some crypto investors think the price may plummet even further.
A crypto-hedgefund Tetras Capital, a crypto hedge fund known for in-depth analyses , went for shorting ether in May 2018, when the price was around $600 level. In their recently published report, Tetras Capital expresses concerns that Ethereum price isn’t justified. Ethereum strives to be a global platform with decentralized applications (DApps) being run on top of it. At the moment, there are approximately 6000 daily users and the network is already at its full capacity. The network can handle only 15 transaction per second which can’t compare to Visa or Master Card.
On the other hand, Jake Brukhman, founder of CoinFund, has high hopes for Ethereum long-awaited scaling solution and bets on Ethereum.
BTC lost nearly 10% of its value over the past week, whereas ETH lost 23% of it’s price and is now trading around $320. Since the beginning of the year, the second-largest cryptocurrency lost more than a half of it’s value. Some crypto investors think the price may plummet even further.
A crypto-hedgefund Tetras Capital, a crypto hedge fund known for in-depth analyses , went for shorting ether in May 2018, when the price was around $600 level. In their recently published report, Tetras Capital expresses concerns that Ethereum price isn’t justified. Ethereum strives to be a global platform with decentralized applications (DApps) being run on top of it. At the moment, there are approximately 6000 daily users and the network is already at its full capacity. The network can handle only 15 transaction per second which can’t compare to Visa or Master Card.
On the other hand, Jake Brukhman, founder of CoinFund, has high hopes for Ethereum long-awaited scaling solution and bets on Ethereum.
Common order types
Market Order
A market order means to buy or sell an asset at the market price. Market price is determined as the best available price for the asset at the time the order is placed. You cannot place restrictions on the execution of a market order.
Limit Order
A limit order to buy is at the limit or lower price that a trader has decided to buy. A limit order to sell would be at the limit or higher price that a trader has decided to buy. When you execute a limit order an amount of funds is reserved in your account. This does not guarantee that the order will be executed. Limit orders are shown in the order book.
Stop Order
A stop order means to execute a trade at a specific price. This differs from the limit order because once the stop price is reached, a stop order turns into a market order. Stop orders do not reserve funds and do not appear in order books before they are activated.
Stop Limit Order
A stop limit order means a limit order is created at a specific price. Once the stop price is reached, it turns into a limit order. This requires a stop price and a limit price to be specified. Stop limit orders do not reserve funds and do not appear in order books before they are activated.
#cryptotrading101
Market Order
A market order means to buy or sell an asset at the market price. Market price is determined as the best available price for the asset at the time the order is placed. You cannot place restrictions on the execution of a market order.
Limit Order
A limit order to buy is at the limit or lower price that a trader has decided to buy. A limit order to sell would be at the limit or higher price that a trader has decided to buy. When you execute a limit order an amount of funds is reserved in your account. This does not guarantee that the order will be executed. Limit orders are shown in the order book.
Stop Order
A stop order means to execute a trade at a specific price. This differs from the limit order because once the stop price is reached, a stop order turns into a market order. Stop orders do not reserve funds and do not appear in order books before they are activated.
Stop Limit Order
A stop limit order means a limit order is created at a specific price. Once the stop price is reached, it turns into a limit order. This requires a stop price and a limit price to be specified. Stop limit orders do not reserve funds and do not appear in order books before they are activated.
#cryptotrading101
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📍Professional trading instruments
📍100+ cryptocurrencies
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📍Crypto-fiat trading pairs
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📍Track your portfolio perfomance
📍Secure wallets
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Joseph Lubin: Speculators are driving price swings
Ethereum co-founder Joseph Lubin stated in discussion with Bloomberg that a price collapse wouldn’t constrain further growth.
He also expressed the opinion that the last year’s price jump was a bubble and ‘trader types’ are the reason behind the cryptomarket volatility.
This week ether has seen 9-month low of $254. It is currently trading at $300 price level. The second largest cryptocurrency is down 18% in 7 days and lost 62% since the beginning of the year. By comparison, bitcoin is now worth 51% of it’s value on January 1st.
Ethereum co-founder Joseph Lubin stated in discussion with Bloomberg that a price collapse wouldn’t constrain further growth.
He also expressed the opinion that the last year’s price jump was a bubble and ‘trader types’ are the reason behind the cryptomarket volatility.
This week ether has seen 9-month low of $254. It is currently trading at $300 price level. The second largest cryptocurrency is down 18% in 7 days and lost 62% since the beginning of the year. By comparison, bitcoin is now worth 51% of it’s value on January 1st.
Simple Moving Average
Identifying trends, or the general direction in which an asset is moving, can be very helpful for cryptocurrency traders. However, tokens can be highly volatile. Technical analysis helps single out a trend by looking at the ‘moving averages’ which smooth out a cryptocurrency's price fluctuations.
The most basic kind of moving average is the 'simple moving average', which is determined by calculating an asset’s average price over a specific time period. Traders might look at what bitcoin has done over a five-day or 15-day period, for example.
A similar tool that bitcoin traders can use is the 'exponential moving average', which gives greater emphasis to more recent price values when calculating an average.
By analyzing moving averages, traders can get a better sense of when momentum shifts. For example, if a five-day moving average (SMA5) falls below a 20-day moving average (SMA20), this development could point to a bull market turning bearish.
#cryptotrading101
Identifying trends, or the general direction in which an asset is moving, can be very helpful for cryptocurrency traders. However, tokens can be highly volatile. Technical analysis helps single out a trend by looking at the ‘moving averages’ which smooth out a cryptocurrency's price fluctuations.
The most basic kind of moving average is the 'simple moving average', which is determined by calculating an asset’s average price over a specific time period. Traders might look at what bitcoin has done over a five-day or 15-day period, for example.
A similar tool that bitcoin traders can use is the 'exponential moving average', which gives greater emphasis to more recent price values when calculating an average.
By analyzing moving averages, traders can get a better sense of when momentum shifts. For example, if a five-day moving average (SMA5) falls below a 20-day moving average (SMA20), this development could point to a bull market turning bearish.
#cryptotrading101
Did you know? First BTC transactions.
The first non-mined bitcoin transaction happened on 21 January 2009 between Hal Finney and Satoshi Nakamoto. Satoshi transferred 101 BTC to Finney’s account.
But the digital currency has come a long way since 2010, when the purchase of the two Papa John's pizzas by Laszlo Hanyecz from another bitcoin enthusiast marked what is believed to be the first "real-world" bitcoin transaction. In May 2010, a developer bought two pizzas using 10,000 bitcoins. Today, 10,000 bitcoins are worth more than $60 m.
The first non-mined bitcoin transaction happened on 21 January 2009 between Hal Finney and Satoshi Nakamoto. Satoshi transferred 101 BTC to Finney’s account.
But the digital currency has come a long way since 2010, when the purchase of the two Papa John's pizzas by Laszlo Hanyecz from another bitcoin enthusiast marked what is believed to be the first "real-world" bitcoin transaction. In May 2010, a developer bought two pizzas using 10,000 bitcoins. Today, 10,000 bitcoins are worth more than $60 m.
Cryptomarket Weekly Recap
Top 5 coins 7d change
BTC $6,506.07 (+2.8%)
ETH $300.83 (-6.3%)
XRP $0.34 (+14.7%)
BCH $569.93 (-0.2%)
EOS $5.31 (+4.3%)
Total Market Cap: $214,096,665,345
BTC Dominance: 52.1%
Biggest gainers in 7d
Wincoin (WC) 438.47%
PKG Token (PKG) 249.19%
TaTaTu (TTU) 245,88%
Biggest losers in 7d
Peercoin (PPC) -51.82%
Sapien (SPN ) -44,16%
Carblock (CAR) -43,26%
Top 5 coins 7d change
BTC $6,506.07 (+2.8%)
ETH $300.83 (-6.3%)
XRP $0.34 (+14.7%)
BCH $569.93 (-0.2%)
EOS $5.31 (+4.3%)
Total Market Cap: $214,096,665,345
BTC Dominance: 52.1%
Biggest gainers in 7d
Wincoin (WC) 438.47%
PKG Token (PKG) 249.19%
TaTaTu (TTU) 245,88%
Biggest losers in 7d
Peercoin (PPC) -51.82%
Sapien (SPN ) -44,16%
Carblock (CAR) -43,26%
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