COINBASE.. WOW.. Arbitrage anyone?
As a professional trader for a number of years, I love crypto.. You get to see so much you would of never been able to see in traditional commodities. The image above is what happens when full on MANIA, has everyone smash the market buy button at once and blows through the order book faster than opposing sells can cover the buys.. WOW.. on Coinbase, BCH is about 300 percent higher than on Bitrex at $3500.. Will we get to see two crashes in one day?
It was as high as $9500 on GDAX..
I circled the 2000 sell orders, that are people in way way way way way high in the price.. wow..
And of course GDAX is frozen.. I bet some folks are sweating bullets right now unless this is some weird glitch..
Either BCH is about to explode on every other exchange or its about to crash quick on GDAX...
11000 sell orders, and GDAX just cleared the books.. set some real out of the money buys in the $1500 and below range in case we have flash crash once it comes out of post only... It's going to be glorious... I'm setting some wildly low limit orders...
The general public cannot arbitrage anything...
I arbitrage between GDAX, Kraken and Gemini all the time.. I did quite well when GDAX had BTC 10 percent higher than everyone else.. and quite well again when Kraken had LTC 8 percent higher than GDAX.. so you are mistaken there Sir.. I'm a part of the general public.. I mean if you want to go low level you can even Arbitrage Between Amazon and EBay.. I can send you a link to my wifes EBAY store if you wish.. The ability to arbitrage is very well intact.. Now on this BTC / BCH thing on GDAX.. well the price is probably going to crash into the dirt when they come of cancel only mode.. especially when I see 11,000 sell orders and no buyers...
I do not give the general public much credit when it comes to finance, especially the crypto market. I know no one that can arbitrage and make decent money. You are not part of the general public because you stated that you were a professional trader... That is a huge difference.
I should have put the word financial into my comment... And yes, there are some that use ebay and craigslist to support themselves by buying and selling.
Ok, I apologize if I came of course. I was under the impression that you were saying only big institutions can make money via arbitrage. I mean its not a thing you can do ever day by any means, it take a bunch of different stars to line up for it to work. Generally speaking, when BTC goes up fast, Coinbase will run higher, when Bitcoin crashed Coinbase will crash harder.. Much like we saw earlier this evening.. What works best is a good bull run as Coinbase will get farther and farther ahead.. So if you have money on Kraken, or Gemini you by there and sell on CB at the same time.. then wait for the drop, and Buy on CB and sell everyere else.. Coinbase tends to over react to price swings.. I do thank you for your comments and look forward to speaking with you more in the future... @pawsdog
That said the title was somewhat sarcastic as there is no way you could pull it off in time.. It was just pointing out the wild discrepancy in price between GDAX and the rest of the world...
No problems... Regarding arbitrage, if you look at Coinmarketcap BTC by 'markets', the Korean Bithumb exchange has it listed at 19.5k while most of the other exchanges are around 17k. Even I can make some money with that spread... (I'm not sure if Americans can open an account on a Korean exchange)...
Nah, I don't think you could.. but that spread is nothing... try this one.. https://golix.com/markets/btcusd $27,000 USD per coin on an exchange in Zimbabwe. Bought to move to Zimbabwe.. lol.. The thing that messes everything up when you leave USD is getting it back to USD.. that's why I stay with GDAX, KRaken, Gemini.. USD on all three so no currency madness.
wow this is what was going on? I watched the price skyrocket. Glad to know you're a long-time trader! I just started trading this month. (For someone who's been around since 2013, what the hell was I waiting for?) -- Mostly HODL.
Nah, I would not want to be sitting on a $9500 BCH coin right now.. some folks are going to get burned badly...