Not a day goes by without healthy arbitrage opportunities popping up in the cryptocurrency and digital asset world. While most of the price differences may seem minimal, all of these small profits will eventually add up to some extra money. The following six opportunities all let users make easy money with very little effort involved.
ZCash (Cex / Bittrex / Bitfinex)
Over the past few days, it has become apparent there is some good money to be made from cryptocurrency arbitrage involving the Bitfinex exchange. In the case of ZCash, it is somewhat profitable to buy ZEC on Cex or Bittrex and flip the coins on Bitfinex. The average profit sits near the 1.35% mark, although Bittrex maintains the lowest ZEC price and yields the bigger profit potential.
Bitcoin Gold (Koineks / Bitfinex)
Even though Bitcoin Gold is not necessarily the most successful fork of Bitcoin to date, it is still a viable altcoin for arbitrage opportunities. Buying BTG on the Koineks platform and selling it on Bitfinex will result in a profit of 2.17%. Considering how Bitcoin Gold usually has low trading volume, timing one’s trades correctly will be crucial.
Tron (Koineks / Bitfinex)
It is shaping up to be a good day for flipping altcoins and tokens on the Bitfinex exchange, by the look of things. The platform also has a higher price for Tron compared to Koineks, which makes for a rather interesting opportunity to look into. With an expected profit of 1.53% per trade, there is some good money to be made by flipping one of the more popular altcoins on the market.
Dash (Bittrex / Sistemkoin)
As has been the case for some time now, there is at least one pair of privacy coins subjected to arbitrage opportunities every single day. Alongside ZCash, Dash is another option worth looking into right now. Its value on Bittrex is 1.57% lower compared to Sistmekoin, which makes for a rather straightforward trade. Another good money-making opportunity to keep a close eye on.
EOS (Paribu / Bitfinex)
For those altcoin traders who seemingly can’t get enough of making money through Bitfinex, it seems EOS is another altcoin worth bringing to this platform. One can easily source liquidity from Paribu, which also results in a bigger profit margin. Successfully completing this trade yields a profit of just over 2% per trade. EOS Hardly ever has liquidity problems, although Paribu is still a relatively small exchange first and foremost.
XRP (Bitstamp / Bittrex / Bitfinex)
The final arbitrage opportunity on this list involves selling XRP on the Bitfinex platform. Users can purchase XRP from Vebitcoin, Cex, Bittrex, Bitstamp, Paribu, BtcTurk, or Koineks and can expect an average profit of 2.7% per trade. Considering how popular Ripple’s native asset is, there is a lot of potential money to be made by exploiting these price gaps.
Information provided by Arbing Tool
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
Altcoin Season Might Be Closer Than You Think
Bitcoin (BTC) has closed above the 50 day EMA which is a very bullish development. The price could be on the cusp of a major breakout from here as it is now close to breaking past the 21 Day EMA. After the last parabolic advance of 2017 we saw the price decline below the 50 Day EMA when it topped out. It ended up closing below it and then eventually began its uptrend from there to rise above the 21 Day EMA.
The price has now closed above the 50 day EMA same as last time which means it is reasonable to expect that the same thing could happen this time and the price might end up rallying above the 21 Day EMA. The last time it happened, we saw the relief rally come to a halt around the 61.8% fib retracement level before the downtrend began. The same could happen again.
Currently, the 38.2% fib retracement from the recent top is a key resistance level holding the price. As long as we remain below this level, the price could trade sideways or even retrace to the 50 Day EMA before it can rally higher. That being said, there is no cause for alarm for the bulls as long as the price remains above the 50 Day EMA. The previous downtrend shook out a lot of bears but we have new overly ambitious bears here that are making the same mistake and they are very likely to get the same treatment.
If we take a look at Ethereum (ETH), we can see that it also has a lot of room for further upside. The price has closed below the 200 day EMA just as Bitcoin closed above its 50 day EMA. This is a bullish development for both cryptocurrencies and an indicator of further upside.
Bitcoin (BTC) dominance is on a decline which is another reason why we expected the price of Ethereum (ETH) and other altcoins rally a lot harder than Bitcoin (BTC) in the days and weeks ahead. If we take a look at Coinmarketcap, we can see that certain top cap altcoins have rallied a lot harder compared to Bitcoin (BTC).
This trend is expected to continue now that Bitcoin dominance has declined below the 200 Week EMA and is expected to close below it. If we see such a close in Bitcoin dominance, we could see a mini altcoin season. The Fear and Greed Index shows that we are up from Extreme Greed to Greed which is a sign of recovery in the market. If this trend continues, we are very likely to see further upside from here.
The Evolution From Altcoin to Shitcoin in 4 Steps
In the cryptocurrency industry, there are thousands of altcoins on the market today. Of those projects, half or less are still actively maintained today, creating a massive amount of “shitcoins“. Now is a good time to recap how an altcoin turns into a shitcoin over the course of weeks, months, and years. This process is still ongoing today, as nearly nine in ten new projects fail around the clock.
STEP 1: CREATING HYPE FOR NO REASON
When it comes to the different altcoins launched over the past ten years, the ones which didn’t create media-levels of buzz and excitement are still standing today. There are some exceptions in this regard, albeit nearly everything which portrayed itself as the “Bitcoin killer” has either been abandoned, forgotten about, or simply ceased to exist altogether. As such, any altcoin project which has a strong marketing machine behind it should be scrutinized, as it will potentially turn into a shitcoin sooner or later.
The ICO industry is a great example in this regard. Nearly all projects created a lot of hype and excitement following Etheruem’s successful sale, yet very few of them are still active today. Numerous exit scams have taken place, whereas other projects are simply not delivering what was initially promised. Now that ICOs are not as “hot” anymore, but replaced by STOs and IEOs, that situation will hopefully change. However, there is still a chance most IEOs will become a shitcoin as well, depending on whether or not the developers are even remotely serious about building a new ecosystem.
STEP 2: WILD PRICE RIDE
As has become apparent in the altcoin industry over the years, pumps and dumps are nothing out of the ordinary by any means. In the shitcoin world, there will be plenty of wild price fluctuations for no apparent reason, especially after moving up quickly for a very brief period. This will undoubtedly lead to a massive price dump, as investors, speculators, and insiders are cashing out in very quick succession. The coin will maintain some value afterward, as this cycle can occur more than once in the lifespan of a shitcoin.
STEP 3: ALL DEVELOPMENT CEASES
After the wild price fluctuations, one might see altcoins suffer from a lack of active development in the weeks and months ahead. This is only normal, as it is likely the developers cashed out their coins during the previous price spike as well. Community members might even try to take over the coin’s development when there is nothing going on, but that is another clear sign the project has become a shitcoin. Community takeovers hardly ever work out in a positive manner, let alone having them restore a currency’s value along the way.
STEP 4: LOSING ALL VALUE
Anyone who has ever kept a close eye on the altcoin industry will know there are a lot of price fluctuations to take note of. This is not uncommon as far as this industry goes, as all altcoins derive value from Bitcoin first and foremost. That also means altcoins can became worthless pretty quickly if there is nothing else to keep people excited at that time. On the road to becoming a shitcoin, losing all value is the final major sign of what the future may hold.
As to why the value crashes, there are several possible scenarios. Either the project never gained any traction, to begin with, or someone is manipulating the prices, or the developers are simply dumping their premine and moving on to create another shitcoin. There are many different plausible scenarios, yet it is evident most coins losing all value will never recover in a meaningful manner. Instead, new coins will be created to keep up appearances as to how “innovative” these altcoins can really get.
Altcoin Update: BCH, BSV and Monero Lead Bullish Charge
The bears are slowly giving away to a handful of altcoins, precisely the ones that have successfully built a strong momentum since the week began, as such, it will be no surprise that significant price breakouts will be attained before the weekend. However, some of the highest gainers are already making an interesting crossover.
Bitcoin Cash (BCH)
The 5th largest coin by market capitalization is retesting its last week’s previous resistance levels. On June 10th, Price broke out of the $400 mark to hit a high of $425 then fell all the way down below support levels of $350 and $300 to hit $269, consequently, market capitalization also lost more than $2 billion.
Meanwhile, in the last 24hrs, BCH has made a price correction and is soon to crossover to the $312 mark. Against the USD, the price has increased by 7.76% at press time and is likely to go higher or close around the $310 mark.
Bitcoin Satoshi Vision (BSV)
BSV has also taken the bull by its horns, as it is set to retest prior resistance levels. After hitting a high of $248 in June, the price took a slow decline that eventually landed it below $160 resistance level while market cap sustained a loss of more than $2 billion.
At press time, similar to BCH, the BSV coin against the USD has gained 7.21% and is just about to hit the resistance of $130. Once succeeded, the price will further head towards the $135 and prepare ahead for the $150 mark.
Monero XMR has been one of the best performers since the month began. After hitting a $119 in June, XMR is set to take off as market makes a bullish correction. The coin is currently up by 5.49% against the USD and is set above prior $84 support level while heading for a breakout between $99 to $96 mark.