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I think you may be confusing correlation with causation.
It looks like the large drop CAUSED the 10/21 EMA to cross. It's hard to tell which happened first.
If you have evidence that the 10/21 EMA crossed before the sell off, I would like to know.
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It seems strange that they are so far behind.
Bitstamp used to follow MtGox much more closely.
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We are at 101 right now.
Looks like we will be under 100 soon.
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 I think it looks cool. |
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Over 2 million USD sold in the last 10 minutes.
Wow.
Over 3.25 million sold now and the order is still being processed. |
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Over 2 million USD sold in the last 10 minutes.
Wow.
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What happened? $1.5 million just sold off???
Yep. |
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The wall just fell.
We are dropping fast.
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This will allow people who have BTC to convert it to USD but not USD to BTC.
I don't see why this would help the price in the short term.
If anything it would reduce the amount of USD in the system, lowering the USD price per BTC.
Having one extra company accepting BTC will be good in the long run, but I don't see anyone thinking "wow! I can convert my USD to BTC and back again?!?"...
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I'm confused.
Why is this big news?
How is Coinbase different from other places to buy bitcoin?
Biggest infusion of venture capital yet into the Bitcoin ecosystem, by far. It was big news a few months ago when Coinbase raised half a million, so this news is ten times as big - though it's true that back then there wasn't much big news at all so it stuck out more. Thanks. |
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I'm confused.
Why is this big news?
How is Coinbase different from other places to buy bitcoin?
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Good trade. I went first. And best of all, he paid for Ripples that I got for free.  |
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What if a huge sell came in, would it still disappear in time?
No. Orders are executed in the order that they are received. If someone sells BTC40,000 with a market order, all of the current bids in the way will be executed. It might take an hour for MtGox to process an order that large, though.  |
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rh3K9TjcnbASVPDDvmVhVDh3uJ56RKZDTW
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Lets say the buy and sell prices are at $110 (plus or minus a few cents) per BTC.
If you use a "limit buy" order above $110, it will ask if you are sure (since this is above the market price). If you say "ok", then your order will be executed right away.
However, the functionality of the "limit buy" order varies with the price you use.
If you use a "limit buy" order at $111, it will buy at a bit above $110, just like the "market buy". This is useful when MtGox is lagging.
If you use a "limit buy" order at $112 to $126, it will actually buy bitcoins at these prices!
If you use a "limit buy" order at $127 or higher it will change your "limit buy" order to a "market buy" order automatically.
This happened to me. The price of bitcoin was $110. I put in a "limit buy" order at $120 and it charged me $120 per bitcoin, despite the fact that there was over $1,000,000 of asks on MtGox between $110 and $120.
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Bitcoin will most likely collapse when mtgox starts allowing to trade LTC. LTC value will be higher than BTC.
When Kraken.com opens and has margin short trading on LTC, LTC will drop like a rock. People that think LTC is overvalued far out number LTC bulls, but we have no way of selling something we don't own. |
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There are a lot of tiny orders at MtGox right now. I suspect it is so that someone can dump a few coins and make it look like a much larger dump than it is..
Why would it look larger? |
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