Originally when I started writing this piece was supposed to be about MaidSafe breaking out after hitting a near all time low. Throughout the day I have watched buyers move around 5000 Bitcoin worth of crypto orders on the MaidSafe Poloniex market leaving the books completely dry with as little as 150 Bitcoin on the buy book at times.
Just a few days ago the MaidSafe market was under 160 BTC of orders waiting to buy from .00005 to zero Satoshi. I woke up today and realized the MaidSafe buy book grew to over 5200 Bitcoin. When I spotted the flash market order book growth earlier on I started writing this article when suddenly 5050 Bitcoin vanished from the order book as if it was all on one position and little by little every half hour or so after that 1000 Bitcoin was put back on the books and then 2000 more Bitcoin, to where the book is now at around 3637 BTC so technically the buy book is still short of about 1400 Bitcoin from what I saw earlier on and I'm going to get a screen grab next time the whole 5000 BTC is back up to further demonstrate my point. Although the 5050 BTC I feel is being moved around at will to manipulate the MaidSafe market very few markets have over 1000 BTC on the buy books holding up what ever value a given market is worth.
(9:28pm)
The reason why I thought it was relevant to post this list of "where the chips are stacked" is because Poloniex is among the leading exchanges for most of these cryptocurrencies outlined below, therefore I felt it was relevant to mention that over the last 48 hours there has been a lot of weight dropped onto the MaidSafe market on Poloniex and then taken off just as fast. Do you think this is an indication of a pump or do you think that this is an indication that the Maid market is undervalued and about to be corrected? Maid has not been under .00004 in a about two years and maybe a few traders with a boat load of BTC are betting on a Maid correction since two days ago I saw about 150 BTC on the buy book in total. Food for thought either way!
(https://flic.kr/p/21RKr8A) 4:38pm
Here is the amount of BTC on the buy books in leading markets at Poloniex when this article was being written.
MAID 3638-5200 BTC ---*
DOGE 0495 BTC
XRP 1053 BTC
ETH 3618 BTC
LTC 0555 BTC
STR 0294 BTC
FCT 0182 BTC
BCH 1380 BTC
DGB 0458 BTC
ETC 0093 BTC lol
LSK 0412 BTC
XMR 0816 BTC
With all my years as experience as a cryptocurrency trader I have learned to follow the money. Understanding what markets are moving the most crypto and who is cashing out of what at which levels I have found very helpful when tying to understand trends that are about to emerge or trying to gauge when coins are out of gas before the tank is empty. In this instance MaidSafe was at an historic all-time low two weeks ago and I can't imagine any other direction for this Market to go which is why I am guessing a large whale is placing a large bet on that market.
(https://flic.kr/p/DhNnDp) 2:18pm
Looks like Poloniex markets are betting on MaidSafe to win this week, what markets do you feel are about to break out? What coins do you feel are undervalued and about to bounce back? Thanks for taking a second to respond and share you're opinion!
Written by STEEM user: Jazmin Million