Did you know that in a yesterday's pump BitMEX made more than anyone on the planet trading crypto? Many become more aware of the scam nature of BitMEX exchange. We were among the first to warn about it.
An user asked in our chat yesterday: "When will BitMEX solve its overload issue?"
I answered the moment they do, they will start earning way less than now.
BitMEX has 3 sources of income, and only one legitimate:
1) commissions of trading. This is fair and square. Expensive a bit, but fair.
2) system overload forcing liquidations of many. This is the bug that makes bitmex THOUSANDS of free bitcoins making Bitmex reserve fund wallet the biggest.
3) They make their own market and although they claim they are not looking at the orders... you tell me - if you had an opportunity in online poker to see what your opponent has... wouldn't you? They are the exchange and they trade against their own customers. You do the math.
Now, there are BitMEX connected or closely related whales.
Yesterday Bitcoin pumped $500 in a period where $200 ranges were max. You guess it, during that time BitMEX conveniently had its overload period.
Now, you see, bitmex has one other secret feature, and NOT for your benefit.
BitMEX hidden orderbook
You see, BitMEX allows you to place a hidden order. But that doesn't serve us as much at it serves them to create real market making buy and sell walls drawing the charts in where they get the most (free) liquidity to their engine, while conveniently pocketing the profits off of liquidations.
Now for example the pump isn't over. ETH is at 118 and the open, visible order is intentionally visible and huge... 25 million buy order at 115.
Please think for a moment and you'll learn to trade on the winning side.
BitMEX whales WANT you to see this order wall. Why?
So you get REKT!
They create those visible orders so you go fomo, buy bitcoin and ether, go bullish, and only to liquidate you afterwards putting the price down strongly in the bear times to follow.
Mark my words what will happen next. A small fake pump and then down to under 3k levels.
It might take time to develop or it doesnt... but watch...
Next time, take into account this unfair, and uneven playground when trading.
This is why I created D.A.R.T. challenge to help you and each other with the most accurate BitMEX signals in the world
Only 10% traders are profitable.
Unfortunately only 2-3% of bitmex traders are profitable on the long run.
Knowing these secrets helps you get and stay profitable while waiting for a more fair high-leverage exchange player to appear on the market.
This is Blockchain Whispers,