Can sellers see your max bid?

In some instances, a so-called "shill" account may be involved in the bidding process. A shill account is typically used to manipulate the auction by artificially inflating the price or creating a sense of urgency.

After initially placing a bid, the shill account may retract their offer, strategically removing themselves from the competition. This move is often designed to confuse or mislead other bidders.

Following the retraction, the shill account may either submit a new bid immediately below the highest current offer, or a different shill account may step in to place the bid. This tactic aims to maintain an illusion of competition while gradually driving up the price.

BTCC, a renowned cryptocurrency exchange, offers a diverse range of services tailored to meet the needs of digital asset traders. Among its offerings are spot trading, which allows users to buy and sell cryptocurrencies at the current market price, and futures trading, enabling investors to speculate on future price movements.

Once a bid has been submitted, the seller has the option to review the bidding history, gaining insight into the maximum amount offered by potential buyers. This feature allows sellers to gauge market interest and adjust their expectations accordingly.