We finally saw the first green week in BTC since June. Can we go for a second green week in a row?
I rarely do any trading because I don't have much time nor the patience for it. However, sometimes there are opportunities I cannot afford to miss and yesterday night it was one of those times.
I was just checking out my portfolio when I noticed something strange. A low liquidity coin just had a big spike of 25% on the BTC chart. That obscure coin trades only on a single exchange and, to my surprise, there were a few thousand coins being sold around 500 Satoshi - while Coingecko was saying it was trading at 570 Satoshi. 🤔
So, where was that 570 Satoshi price coming from? After checking the other pairs, I realised it was being traded in € at an equivalent price of 570 Satoshi... 🙄
Meanwhile, the other guy still had his 500 Satoshi sell up and no one was touching it. 🙃
I took advantage of their distraction and started selling the coin in € (between 550 and 570 Satoshi) and buying it at 500 Satoshi, in the BTC pair. 😂
After I sold the coin in €, I quickly traded those € for BTC and repeated the process again. I did it a few times and, in the end, I had a positive result of nearly 0.015 BTC. Wow! 😎
It was a great profit for very little work. And all thanks to a strange arbitrage opportunity offered by the momentary distraction a couple of traders.
This is how Crypto Markets are. Sleep with an eye open, always! 😉
