Bitcoin Hardfork Trading guide (update 1)

GrossBit
GrossBit
Jul 30, 2017 · 3 min read

About the author: 20 years of experience as a derivatives trader in some of the biggest investment banks. in Crypto since 2015.

This is a follow-up to this post

In the previous post i explained and focused on SOME arbitrage opportunities provided by the exceptional event that is the fork split, and explained the price action which would seem totally chaotic without understanding the pricing implications of the rise of BCC.

As i write those lines, the market has priced more of the fork going on.

The most obvious arbitrage that i recommended was to buy Kraken with leverage sell BitMex futures. Well, at the last print Kraken was trading at 2315 EUR (2720 USD equivalent with real FX rate EURUSD=1.1748)

The last print in XBTU17 in BitMex (futures expiring in Sep2017 AFTER the fork) is at 2557 USD, 163 usd BELOW Kraken price.

Remember this should be equal to BCC price which is trading over 300 usd in the grey market. Remember that those futures were trading as much as 50 usd ABOVE Kraken not so long ago…LOL

BitStamp price has been driven down by bots “arbitraging” BitMex vs BitStamp which don’t realize their mistakes as they drive BitStamp price down (really it should not) while BitFinex should be bit stronger.

As such, if one had USD available on BitStamp one could arbitrage already almost 5% just by buying BTC in BitStamp transferring them to Kraken and selling there… It just shows you how stupid the market is currently. (As it is the weekend, people cannot yet send Fiat to the exchange to arbitrage the difference. But it will come back on Monday or Tuesday for sure.)

Let’s check the math BitStamp =2603 usd , Kraken = 2720 usd (equivalent) a 4.43%….

Well actually, now I have taken some profits out of this Kraken / XBTU17 arbitrage because believe it or not, incredibly there are EVEN BETTER opportunities that i shall or not reveal. Basically where the market is still pricing a big 0 USD for BCC !!!! It is one of those times where even 4.43% free money is not good enough !!!

If you like what I write, and think its not BS but useful to you, if you want to thank me and would like to write more

I accept donations here at this BTC address

12ZYMmPeoCgnSE1M28mn6bPhCNid4fBP4S

If the total of donations exceed 20 BTC I will post about the trades before the fork, else i will just write a Post-Mortem.

The trades are easy to put in place, if you could put in place the trades from the guide you should be able to put those new trades on as well. And there is even MORE liquidity to execute in my proposed new trades.

Teaser: some of the trades should be of interest to anyone who follow altcoins

Please donate and make sure to follow me to get the info !

As usual these are not recommendations to trade for you but self-recommendations.

What is good for me may not be good for you. You also have to understand margin trading and risks associated. Not knowing those risks can result in heavy losses.

EDIT: some people in the forums reacted that 20btc is asking too much

please see the maths like this. Basically what i promise you is to be able to buy synthetically BCC for near 0 usd. if it trades at 200 (now trading over 300usd) you would make 200$ for every coin. if you have 10 BTC to invest and you accept x4 leverage you would make 8,000$ profit.

Make your numbers, see how much leverage you’re ready to risk, how much you think you’d be able to sell BCC for, or happy to hold at this kind of purchase price… and if you think about it many people perhaps even you, invested millions in ICOs with whitepapers and promising something 2 years later against some tokens, i’m proposing something which will make you money in 3 days time. while many of those ICOs will be worthless

GrossBit

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GrossBit

CryptoTrader

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