Bots now controlling the whole crypto market more than ever
Correlation across crypto one day, nothing the next. Now, things appear just ridiculous.
I happened to spot some strong correlation between BTCUSD and ETCUSD recently browsing on my mobile phone which just looked too odd so I decided to investigate further. For the purposes of this chart, I have included 4 major currencies across 4 different exchanges (Coinbase, Poloniex, Bitstamp, Bitfinex). The correlations between all these are now absurd whereby some hourly candles are almost printing like for like on multiple exchanges at the same time i.e. BTCUSD (Coinbase) vs. ETHUSD (Poloniex) etc etc. I went back in price to see where the strongest correlation begun and have marked it in the chart. Price pressure is different but direction is virtually identical down to the hourly close.
It seems something was activated around 10th January at 7:00pm ET for the purpose of controlling everything. Possibly earlier but I think that's the sweet spot. The reach of this program(s) is massive given its scope is across multiple currencies on multiple exchanges, situated in geographically different continents. The sheer size of effort required to do this would no doubt require some significant capital.
The pink to pink sections which I have embedded show the price similarities in segments. Check it out.
I happened to spot some strong correlation between BTCUSD and ETCUSD recently browsing on my mobile phone which just looked too odd so I decided to investigate further. For the purposes of this chart, I have included 4 major currencies across 4 different exchanges (Coinbase, Poloniex, Bitstamp, Bitfinex). The correlations between all these are now absurd whereby some hourly candles are almost printing like for like on multiple exchanges at the same time i.e. BTCUSD (Coinbase) vs. ETHUSD (Poloniex) etc etc. I went back in price to see where the strongest correlation begun and have marked it in the chart. Price pressure is different but direction is virtually identical down to the hourly close.
It seems something was activated around 10th January at 7:00pm ET for the purpose of controlling everything. Possibly earlier but I think that's the sweet spot. The reach of this program(s) is massive given its scope is across multiple currencies on multiple exchanges, situated in geographically different continents. The sheer size of effort required to do this would no doubt require some significant capital.
The pink to pink sections which I have embedded show the price similarities in segments. Check it out.
Comment:
Now in September 2018 (~9 months after my original post)... nothing has changed
