Quote (balrog66 @ Mar 11 2020 09:24am)
Maybe algo trading is just as present? Just spitballing here. I know a few guys who have/had algo traders running for crypto.
that was my impression as well. BUT, you'd think if say a massive algo driven trader was hitting stop losses on the way down from the stock market, and is then flushed with cash, a high percent would go to bonds, and they'd pump a low percent into cryptos. especially when BTC was on a pretty impressive rebound for the last month and hit 10k on daily highs for a good week there. instead it fell from 10k straight down to 7.5k in a few days.
it almost reads to me like a large number of people holding at the 10k peak saw a stock market selloff, and got antsy since that was a 3 month peak. then sold off a bunch on the back of oil crashing, and the algos did the rest pushing it to rock bottom. which should suggest that it rebounds faster than the DJJ as it doesnt have to demonstrate earnings or value it can spike or plummet seemingly randomly. honestly i could see BTC hit 10k in 2 weeks or 3 months. who knows.