Good arbitrage opportunity on BTC USD/BRL.
Buy BTC with USD on Coinbase, sell for BRL in MercadoBitcoin, send USD back to original account.
17% spread each round, I estimate costs at around 2%, so 15% profit for each round.
The graph shows spread for this operation over time.
Looks like we had an opportunity to explore the arbitrage spread between BRL / USD using bitcoin in August. It existed until late September but closed in 2 days, coming back from 20% to 7%. Another window was back in May.17, but it lasted for shorter than the Aug one, which is interesting.
Do you guys agree? How could be possible that the market let this happen...
I think this can be the bottom of the recent pullback in the Brazilian Real. I'm long $BRL as an oil proxy here, shorting $USDBRL with a tight stop at 3.3415.
The political crisis might be averted, and the currency can soar, specially with the extreme negative sentiment currently affecting it.
Best of luck to our brazilian friends, and to anyone taking the...
Year-to-date, the Brazilian Real has out-performed the US dollar more than any other currency in The Americas, while the Turkish Lira under-performed all of its European counterparts.
Getting long at the 618 retracement which will also fall into the breakout of the pennant.
Targeting the 382 of the major peak and major trough.
The Brazilian Real posted its biggest rally since November 2008 Thursday on threats by the country's monetary authority that it may intervene in the FX market to curb its dive. Can the group offset an underlying market current of risk aversion? Or, can the Real's move signal a reversal for the broader Emerging Markets? Unlikely on both accounts.