What Are Your Thoughts on Exchanges Shutting Down During Dips
I have never experienced this though because am more of a crypto hodler. Although there was time I joined a crypto pump group. On the time of the pump, exchanges suddenly went down and people couldn’t buy but the sell orders where working.
Bitcoin and other altcoins saw a dip yesterday and all of a sudden exchanges went down. I didn’t notice because I wasn’t planning on selling any of my holdings anytime soon. But @travelwritemoney brought it up on a comment under my post Did Bitcoin Slightly Slip Into A Bear Market?: El Salvador Bought The Bitcoin Dip Again
At first I had this feeling that this could be a way of the crypto exchange to manipulate the market. When the masses are dumping on the big boys, the only way to stop people from selling is to fake a crypto exchange outage or temporary shut down. It’s like a “how dare you dump on me when I just bought high” feeling from them. But when they want to dump on the retail traders, they don’t care, they will dump it so hard and exchanges won’t shut down.
This is just another way am looking at it, but the other way you can also look at it is that this could be a real technical issue. This period could be a period of intense trading volume and the system couldn’t take it. The trading demands get so overwhelming that the system has no other choice but to temporarily shut down. But will you consider this a system glitch due to intense trading demand when the crypto exchange has claimed so many time to have resolved and upgraded their faults. Why doesn’t it glitch when the whales are dumping?
This only happens on centralized exchanges but on decentralized exchange the rate of glitch is quite minute compared to centralized exchanges. Whatever it is or might be it’s all a manipulated environment by the big boys. They are all connected.
Sometimes you will place an order and the order won’t be executed, even when you try to cancel it, it won’t work. But just wait for few hours after the value of the coin has dipped to these exchanges satisfaction, that’s when your order will get executed.
What are your thoughts?