TLDR
In the months between December 2017 and March 2018, I built a bot which executed around $50 million worth of cryptocurrency market-making trades. This is the story of how I got into market making, the theory behind the bot’s algorithms, and the competition that grew between market-makers. The spread on Bitcoin was a consequence of the market chaos that was emerging in December 2017. Retail investors — you, me, the average person on the street — were flooding into the market. Prices were so volatile that the spreads could never stabilise.via the TL;DR App
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Written by mackg | https://mackgrenfell.com/
