{"id":212,"date":"2019-04-08T23:34:09","date_gmt":"2019-04-09T03:34:09","guid":{"rendered":"https:\/\/www.hodlin.com\/blog\/?p=212"},"modified":"2021-01-15T17:57:07","modified_gmt":"2021-01-15T22:57:07","slug":"bitcoin-btc-highlights-a-100-million-buy-order-frenzy-sec-ico-guideline","status":"publish","type":"post","link":"https:\/\/www.hodlin.com\/blog\/bitcoin-btc-highlights-a-100-million-buy-order-frenzy-sec-ico-guideline","title":{"rendered":"Bitcoin (BTC) Highlights: A $100 Million Buy Order Frenzy, SEC ICO Guideline"},"content":{"rendered":"\n<p>Well, everybody can see it. Better still, every cryptocurrency investor, enthusiast, or trader can feel it. Bulls are awake and the home pages of all crypto trackers are back to green. Yes, green and gains are massive.<\/p>\n\n\n\n<p>Double-digit for <a href=\"\/coins\/bitcoin\" class=\"rank-math-link\">Bitcoin<\/a> which in turn is magnifying gains in other altcoins. Leading in the gainers&#8217; category in the top 10 is <a href=\"\/coins\/bitcoin-cash\" class=\"rank-math-link\">Bitcoin Cash<\/a> and his cousin, Litecoin. The former is a spinoff of Bitcoin and the latter derived its code from the king, Bitcoin. <\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"1130\" height=\"732\" src=\"https:\/\/www.hodlin.com\/blog\/wp-content\/uploads\/2019\/04\/Bitcoin-BTC-Price-Chart-e1554699009852.png\" alt=\"\" class=\"wp-image-216\" title=\"\" srcset=\"https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2019\/04\/Bitcoin-BTC-Price-Chart-e1554699009852.png 1130w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2019\/04\/Bitcoin-BTC-Price-Chart-e1554699009852-780x505.png 780w, https:\/\/cdn.hodlin.com\/blog\/wp-content\/uploads\/2019\/04\/Bitcoin-BTC-Price-Chart-e1554699009852-768x498.png 768w\" sizes=\"(max-width: 1130px) 100vw, 1130px\" \/><\/figure><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"> $100 Million Worth of Bitcoin Pump the Market<\/h2>\n\n\n\n<p>Amid all the excitement, analysts, as well as blockchain sleuths, are trying to figure out why asset prices are rallying. One theory is that there was a huge $100 million buy order distributed across three liquid exchanges causing an imbalance as prices rallied to the stratosphere. Here\u2019s what Oliver von Landsberg-Sadie, Chief Executive Officer of BCB Group told <a rel=\"noreferrer noopener\" href=\"https:\/\/www.reuters.com\/article\/us-crypto-currencies\/bitcoin-soars-20-percent-mystery-buyer-seen-as-catalyst-idUSKCN1RE0JY\" target=\"_blank\">Reuters<\/a>:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cThere has been a single order that has been algorithmically-managed across these three venues, of around 20,000 BTC. If you look at the volumes on each of those three exchanges \u2013 there were in-concert, synchronized, units of volume of around 7,000 BTC in an hour.\u201d<\/p><\/blockquote>\n\n\n\n<p>And they were right. A similar study carried out by Sid\nShekhar, the co-founder of <a href=\"https:\/\/www.tokenanalyst.io\/\" target=\"_blank\" rel=\"noreferrer noopener\">TokenAnalyst<\/a>, did complement Oliver\u2019s observation. He\u2019s\nwhat Sid said:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cWe were able to see some of this stuff before it happened. We saw a few large whale movements of funds, then a concerted inflow into multiple exchanges from whale wallets, and then we were seeing a virtuous cycle. The whales didn\u2019t move it all by themselves, but they were the first domino. As soon as that first domino fell, we saw a bunch of programmatic action based on momentum, which led to more and more price action.\u201d<\/p><\/blockquote>\n\n\n\n<figure class=\"wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">\u201cBased on <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">#bitcoin<\/a>&#39;s trading history, a move above the 200D for BTC is meaningful statistically. When BTC is above its 200D its win-ratio is 80% compared to 36% when it is below its 200D\u201d<br>\u201c6M forward returns average 193% compared to 10% when below its 200 [day moving average]&quot; <a href=\"https:\/\/t.co\/yGwtW9RuZP\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">pic.twitter.com\/yGwtW9RuZP<\/a><\/p>&mdash; Nagat\u00f8 (@NagatoDharma) <a href=\"https:\/\/twitter.com\/NagatoDharma\/status\/1114345677612560384?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">April 6, 2019<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Enter the US SEC<\/h2>\n\n\n\n<p>So, the fact is, the initial 20 percent swing was because of\na Bitcoin whale who wanted to get all in before \u201csomething\u201d big happened.\nWhether that will be the US SEC approving any of the nine Bitcoin ETF\napplications or China easing their stand on Bitcoin and allowing exchanges back\nbut in a more regulated manner we don\u2019t know. <\/p>\n\n\n\n<p>However, what we know is that the US is allowing market\nforces to influence digital asset prices. To streamline and to assist investors\nmake correct decisions by ensuring that they invest in utilities and not\nsecurities\u2014SEC are adamant that most digital assets are \u201cinvestment contracts\u201d compliant\nwith Howey Test. Back in Mar, Brett Redfearn who heads the commission\u2019s head of\ntrading <a href=\"https:\/\/www.reuters.com\/article\/us-sec-crypto\/u-s-sec-issues-guidelines-to-help-analyze-crypto-assets-idUSKCN1RF2BJ\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">noted<\/a>\nthe following:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\u201cWhen you have an unregulated space, bad actors do tend to flock there and so if you look at the amount of enforcement cases that have come and the amount of manipulation and fraud and all of the other things \u2013 bad sales practices and the like \u2013 that have happened in that space, it\u2019s astronomical.\u201d<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Well, everybody can see it. Better still, every cryptocurrency investor, enthusiast or trader can feel it. Bulls are awake and the home pages of all crypto trackers are back to green. Yes, green and gains are massive.<\/p>\n","protected":false},"author":2,"featured_media":223,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[11,7,30],"class_list":["post-212","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-ico","tag-sec"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/posts\/212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/comments?post=212"}],"version-history":[{"count":8,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/posts\/212\/revisions"}],"predecessor-version":[{"id":611,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/posts\/212\/revisions\/611"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/media\/223"}],"wp:attachment":[{"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/media?parent=212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/categories?post=212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hodlin.com\/blog\/wp-json\/wp\/v2\/tags?post=212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}