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Title: Today's $5K trade, 2.5% spread between low and high Post by: Stephen Gornick on November 26, 2010, 09:35:12 PM Looking at today's transactions on Mt Gox shows 17,159 BTC traded over 22 trades at the same time. That's about $5K USD ... presumably in a single buy. The spread between the lowest and highest paid is 2.5% though most of the trade executed at the upper end, $0.2890.
http://bitcoincharts.com/markets/mtgoxUSD.html Is there anything that this transaction tells us? I was wondering how much a buy of this size would affect the price. This one transaction represents 0.3% of all bitcoin in existence today. This one transaction was over half of all today's volume. Does this say that today there is a fairly efficient market? Title: Re: Today's $5K trade, 2.5% spread between low and high Post by: FreeMoney on November 29, 2010, 05:39:41 AM Looking at today's transactions on Mt Gox shows 17,159 BTC traded over 22 trades at the same time. That's about $5K USD ... presumably in a single transaction. The spread between the lowest and highest paid is 2.5% though most of the trade executed at the upper end, $0.2890. http://bitcoincharts.com/markets/mtgoxUSD.html Is there anything that this transaction tells us? I was wondering how much a buy of this size would affect the price. This one transaction represents 0.3% of all bitcoin in existence today. This one transaction was over half of all today's volume. Does this say that today there is a fairly efficient market? You can fairly easily compute how much a large purchase or dump will move the market by reading the order book and doing a little math. There was even a site that had a calculator like this, but it is down now. A big order done slowly might get a better price if new offers come in, but you can roughly tell. But yeah, the market is much deeper and tighter than it used to be. $5k USD would have completely blown out all the bids or asks just 2 months ago iirc. Title: Re: Today's $5K trade, 2.5% spread between low and high Post by: nelisky on November 29, 2010, 11:05:55 AM http://www.taters.net/cgi-bin/btc/matrix.pl?axisinc=0.01 (http://www.taters.net/cgi-bin/btc/matrix.pl?axisinc=0.01) will help you out in easy visualizations of the market status and how it would move if you buy / sell whatever amount.
Title: Re: Today's $5K trade, 2.5% spread between low and high Post by: Stephen Gornick on November 29, 2010, 05:00:22 PM Ha, well today's activity answers that.
About $5K in sell transactions took out all bids down to $.2151 Title: Re: Today's $5K trade, 2.5% spread between low and high Post by: kiba on November 29, 2010, 05:01:49 PM The price somehow went back to .27.
Title: Re: Today's $5K trade, 2.5% spread between low and high Post by: brocktice on November 29, 2010, 05:09:25 PM The price somehow went back to .27. Probably somebody's bot took advantage of the low price. |