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Title: Sup with MtGox volume ??? Post by: cjspiller28 on March 31, 2013, 04:31:56 AM Well this is the newbie forum so I am entitled to a newbie question. If I'm not mistaken the volume at MtGox has been consistently over 90k for at least the past month. I've been watching it drop pretty rapidly and right now the volume is all the way down to 18k !? Wow. Supposing it drops below 10k what effect would this have on the bitcoin value? Being that Mtgox supposedly handles most of the trade
Title: Re: Sup with MtGox volume ??? Post by: XXthetimeisnowXX on March 31, 2013, 04:49:36 AM Well this is the newbie forum so I am entitled to a newbie question. If I'm not mistaken the volume at MtGox has been consistently over 90k for at least the past month. I've been watching it drop pretty rapidly and right now the volume is all the way down to 18k !? Wow. Supposing it drops below 10k what effect would this have on the bitcoin value? Being that Mtgox supposedly handles most of the trade nothing.... it would just keep the price exactly the same .... well there would be slight diffrences becouse there are other trade sights like bit stamp etc. just like stock of nobody trades that day it doesn't go up or down. Title: Re: Sup with MtGox volume ??? Post by: Luno on March 31, 2013, 05:10:41 AM Everything closed down during Easter, Exchanges, banks, super markets etc.
Title: Re: Sup with MtGox volume ??? Post by: Stephen Gornick on March 31, 2013, 11:00:33 PM Everything closed down during Easter, Exchanges, banks, super markets etc. To me that gives a pretty good illustration of how much the volume is related to new money arriving versus regular buying and selling such as when merchants receive coins and those coins get cashed out. What happens if this is the "top" for a while and the exchange rate drops, ... those buying might hold off anticipating a better exchange rate -- accelerating a decline and a selloff commences. But who knows. |