Big News on the CryptoCurrency Forefront this early morning!
Bittrex suddenly decided to delist Bitshares – BTS from its public exchange.
Being listed on Poloniex and Bittrex is a BIG DEAL.
Bittrex has the 3rd largest cryptocurrency exchange trading volume.
Well the blood-bath has begun and holders of Bitshares are selling off like it’s going out of style. BTS is dumping super hard!
BTS is currently 1435 satoshis on Bittrex and falling like rain on a Spring day.
I took a look at YOBIT to warn the trollers in the troll box. But I discovered that the BTS wallet is not operational.
So the only thing those guys can do is BUY or HODL. They can’t even transfer their BTS to another exchange where Bitshares is listed at a higher price.
It was 7900 on YOBIT and 5900 on Tidex but has since fallen into deep waters there as well.
Let us head over to Poloniex to see whether emotions are at a selling all-time-high. Yes … there, too, Bitshares has fallen to 1442 satoshis.
Scared money don’t make no money, right?
You should look at why you bought Bitshares in the first place.
“BitShares provides a high-performance decentralized exchange, with all the features you would expect in a trading platform. It can handle the trading volume of the NASDAQ, while settling orders the second you submit them. With this kind of performance on a decentralized exchange, who needs risky centralized exchanges?”
One of Bitshares’ big selling points is its decentralised exchange which means it could potentially become a hot competitor to Bittrex in the future. I am not saying that this is the reason for the delisting. Nonetheless, BTS did mention that they are in talks with Bittrex so we don’t know the outcome at the end of the day.
Is this the real reason Bittrex removed Bitshares from their exchange? With a 900 BTC volume, we know that low Volume can’t be the reason, right?
A trip to the Bitshares Subreddit caused me to stumble across this:
If Bittrex was to remove Bitshares overnight with zero warning, they must have a good reason, right? Welll… maybe … It just wouldn’t bode well for Bittrex to arbitrarily delist cryptocurrencies out of the blue.
We won’t know until we know. So don’t be quick to jump to conclusions
The above image appears to suggest that it is a technical issue. If Bittrex and Bitshares works out this problem, you could see the Bitshare share price get a big price boost.
Truth be told, there are so many public exchanges where BTS is listed, being delisted from Bittrex shouldn’t be that much of a big deal. Bitshares also has its own DEX cryptocurrency exchange.
Quite frankly, if I were the Bitshares developers, I would not state a case to be re-listed. What could prevent Bittrex from pulling that trick out of their bag again?
As one recent poster wrote:
Bittrex banning Bitshares is a little like the banks trying to ban Bitcoin!
People … traders and investors are not machines. They are emotional beings. I always say take your emotions out of the game and make moves based upon analysis, trends, news and other parameters including the use of my PCE (PC Effect .. more on that later this year)
BTS is due to be delisted on 13October2017.
Since I believe that we all should use DECENTRALIZED Exchanges, what better time than now?
you should start trading in bitshares DEX and avoid centralized exchanges
Use Bitshare’s Decentralized Exchange (DEX). Move your Bitshares out of your Bittrex BTS wallet.
Go to https://bitshares.org/wallet/ NOW!
I have been storing my Bitshares there for at least a half year.
I will post a HOW-TO Guide on the DEX to give you all a headstart!
So Are you selling, buying, or hodling?