ASK volume is twice the SELL volume, and it's like this since days

[GODLIKE]

Has anybody noticed that the SELLING volume is less than half than the ASK volume?
In other words, there's TWICE the request than what's available on the market.

It's true there's no meeting on the price, but it's just a matter of time... sooner or later those that want to buy will accept that the price will not go down anymore, and the buy frenzy will begin.



This is Poloniex though, I don't know how it's going on the other platforms.

What's your thought about the situation?

[1713866792]

1713866792

[Bitcoinpro]

depends on the exchanges how high they let it go, they are the ones that need to be able to balance the books,

if everyone tried to cash out their houes or retirement fund at the same time, a price collapse would happen,

while market is stable, price continues to climb,

though coin continues to be released so always some downward pressure that lessens over time,

[dothebeats]

It's pretty clear that buy and sell.bids won't meet each other sooner, but in just one single push upwards--say $20--people would rush in to buy that no matter how high it is thinking that this might be "it". Good thing I already bought when it's still low.

[NorrisK]

The problem with huge ASK volumes is that it also makes it more attractive to dump a lot of coins at once. The price a seller will get for a huge bulk of coins is better than when the ASK volume is low. Therefore, it is not always that attractive to have a huge ASK volume standing.

A better indicator would also be a larger exchange. Poloniex has only a small percentage of the volume, the chinese ones and stamp/kraken/btc-e are probably better indicators.

[GODLIKE]

LOL I posted this and price crumbled by 10$ in 1 minute

[coinpr0n]

I don't think it's the greatest indicator, especially as you zoom out. I do think what you're saying is true for very close to the Mid but otherwise it's not very reliable. Also, I'm pretty sure what you're calling SELL is actually the Bid side (represents buyers) and the Ask side is actually the SELLers.

[GODLIKE]

I don't think it's the greatest indicator, especially as you zoom out. I do think what you're saying is true for very close to the Mid but otherwise it's not very reliable. Also, I'm pretty sure what you're calling SELL is actually the Bid side (represents buyers) and the Ask side is actually the SELLers.

Uh I don't know the exact terminology, but sellers are half of buyers.
There's an excess of demand in factor of around 2:1.

[crazyivan]

As more and more people realize that next summer supply of BTC is going to be irrevocably decreased, they ll accept the fact they need to pay more if they want BTC.

[randy8777]

i only don't think it has much value as a few whales can easily make the entire order book look completely different. if i just now look at the bitstamp order book, then it looks very balanced. bitfinex order book looks also normal.

[Bitcoinpro]

exhanges can buy and sell at any price as they can add coin code to the system

their are ways around this, and thats to keep some coin in your own wallet, which

will reverse leverage their position, only 10 million people have to keep 1 coin

in their own wallet to cause a tremendous price explosion

[peonminer]

lmao that's only $10,000 USD of USDT buys. Basically irrelevant.

[suda123]

Has anybody noticed that the SELLING volume is less than half than the ASK volume?
In other words, there's TWICE the request than what's available on the market.

It's true there's no meeting on the price, but it's just a matter of time... sooner or later those that want to buy will accept that the price will not go down anymore, and the buy frenzy will begin.



This is Poloniex though, I don't know how it's going on the other platforms.

What's your thought about the situation?

bauwhauwhwa i know why this is going up

[Raimonn]

The most important think that i saw in this graphic is that there is interest on bitcoin, its value will grow if there is people interested on buying it. To know if it represents a climb to higher prices on next days, we need to see other bigger exchanges graphics.

[peonminer]

https://hypron.net/bitcoinwisdom/

[richardsNY]

Demand is increasing and thus it will also show in the orderbooks of the exchanges. More people are willing to buy and hold. That's a good thing. Just before or after the block halving we will probably face huge dumps as people want to secure their profits.

[kwukduck]

Whooptiedoo.... and it's as fake as it's always been...

[GODLIKE]

Whooptiedoo.... and it's as fake as it's always been...

How can you fake it when there's more exchanges in the world?