Arbitrage Opportunities and possible future pump
Update: 2/1/18 3:30 - The .00366 wall was eaten in a matter of ~15 minutes. This resulted in an almost immediate 10% spike. This was not what I expected. I was surprised to see that wall get bought out as it signals that the owner fully intended to sell. The wall on the BTC pair has moved back a little and they decreased their stake from 40k to about 20k. There is no corresponding wall on the ETH pair. Not sure what this actually means but in lieu of having anything else to write about... :)
One of the big bags I'm holding is in a coin called BQX. It currently is trading on HitBit and Binance. I have been watching this coin for a few days and there is some pretty sophisticated and coordinated manipulation going on. There is a large whale that has been forcing price down with impossible sell walls. This is taking place specifically on the BQX/ETH Binance market and it is causing temporary lags in Binance values between the ETH and BTC pairs.
It appears that there is some coordination on binance as there are smaller, similarly placed walls that pop up there. However, the price lags up to .50 for about 2 or 3 minutes when these walls go up.
Additionally, there is an even more significant gap between the HitBit price and Binance price.
This has been going on for about 4 days and for those with some spare resources and access to binance and hitbit, there is a possibility of arbitrage up to $1.00 or more. I also anticipate a pump in the near future as it seems when I have seen this type of false sell wall pressure in the past, it results in the whales consolidating low cost coins on the way down and then participating in an artificially propelled pump of the coin. I'm not sure if they will take it below the .003 ETH level before pumping, but This could be a 20%-30% pump. I have noticed that the buying pressure against these walls is increasing to the point where the current wall (.00366) is almost getting chipped at. The last time this happened was yesterday and the whale redistributed his big wall into a giant main wall with several smaller yet substantial walls in front to try inducing other people to do the same. The buy pressure seems to significantly stronger here. I don't know how many of these buys are market or consolidation for arbitrage or pump. My assumption is that the flood of very similar buys is consolidation and the others are market. Each time this wall goes up it is slightly larger which implies they are reading for a pump and not working on a Binance/HitBit arbitrage. Thoughts?
Keep in mind, I'm an idiot, but if you happen to make some good trades from this, consider tossing a little ETH my way in case the pump doesn't make it back to the level of my bags at 0x2794bcfa857d0b2686ed22310.
Good luck and don't trade like an idiot!