Oh sure, it moved in pre Asia last night … too bad bid/offer spreads were blown
to hell by Turnkey that made the move useless … after the rally I went to bed,
screw these dopes! … and every single day gets worse than the day before!
And it’s getting bad, very bad … directly below, a succession of 3 bid/offer
quotes taken in successive order after SHTF in the late European session into
the U.S. session … apparently, the clueless LP’s think we’re a bunch of dopes
and will pay anything.
Nice … thanks for being competitive scumbags [NOT!] … let’s see, 6, 8, and 10
dollar spreads in ETH … nothing like fair & honest markets at Turnkey … and this
is what I’m dealing with.
No trades today in anything, as these crypto markets are so screwed up with
hyperactive FOMO it’s scary …. The moves blisteringly fast & vicious, and even
over at PHEMEX, simply impossible to make a market in anything … quite frankly,
this is ridiculous beyond words … in perpetual futures, the basis swings so wildly
from ultra uber bullish to panic liquidation, premiums of ETH futures over cash
move from near zero to over $10+ in seconds only to collapse back again when
cash doesn’t rally … many times today I’ve seen cash rally 50 cents in ETH,
causing a short squeeze panic of over $12 straight up … and then just as fast go
straight down $20 … while this may be fine in BTC, it isn’t in ETH, priced about
33X LOWER … quite frankly, the insanity is off the charts … get on the wrong side
of any of this shit and you’re gonna wish your computer was turned off and you
stayed in bed this morning … I’m not just sittin’ here twiddling my thumbs
wishing this stuff would slow down some … maybe it does, but maybe it doesn’t
either … given the fact that the U.S. is now gonna be run by COMMUNIST
FRAUDSTERS, look for the CNTRL-P machine to go hyperbolic and the
helicopter money to go to anyone & everyone but YOU … and that spells BTC &
ETH to the frickin’ moon, so maybe we just go up everyday forever … why not?
… why should it break?
I’m working on some solutions to these logistical problems and I’ll have more in
the days ahead if things stay “bat shit crazy” … but for today, there isn’t anything
I can do when Turnkey’s LP’s decide that today is “National Thieving Day” and
the bid/offer spread in ETH [as well as BTC] is literally flying faster than a NY taxi
cab meter … cuz when spreads go from $4 to $8, back to $5 then up to $9,
followed by $6, any button you push is gonna screw you blind … and that’s not
even counting slippage! … and while it sounds outrageous & unbelievable, the
pics above of the ETH spreads at $6, $8, & $10 prove my point … in this scenario
there isn’t anyway in hell you can win, and you’re begging to lose money, so I sit
cuz there’s no other option … and like I said, BTC isn’t even an option to trade
anymore, with spreads ranging between $30 - $100++ within seconds
… this is bullshit.
Back at it tonight in Asia for a while, so let’s see what happens ... I’m outta here
… until tomorrow … I’m full steam ahead! … Onward & Upward!!
-vegas
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