Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[ktttn]

What's the deal with the continual sell of 1 btc every 10 seconds? Been going on for hours, prob all day.

*edit*

if you want to see what im talking about go to http://trading.i286.org/ and check the "summarize trades" option.

Redistribution of wealth scale. Who's buying? Are there trends there?

Maybe I should throw a golden apple at those bots with a market sell order of my many thousands of btc. I wonder how they would react.

Yes you should. Test it. It depends on what their max buy setting is, I suppose.

[JimboToronto]

Maybe I should throw a golden apple at those bots with a market sell order of my many thousands of btc. I wonder how they would react.

Go for it.

[derpinheimer]

Damn, that is crazy. Its actually [At least, looks to me] every 5 to ?? seconds. [Originally saw max of 20, now 51. Hmm]

Ive only watched it for a short while, but it looks like an average is right around 10 seconds.

Now, as interesting as it is to consider its a bot trying to get top dollar for the asks.. wouldnt it really just make more sense to market sell into the 140 wall? Yes, yes, 66 cents less.. but.. no risk. And, chance of triggering more sells -> lower buy back price.

 

[Walsoraj]

Damn, that is crazy. Its actually [At least, looks to me] every 5 to 20 seconds.

Ive only watched it for a short while, but it looks like an average is right around 10 seconds.

Now, as interesting as it is to consider its a bot trying to get top dollar for the asks.. wouldnt it really just make more sense to market sell into the 140 wall? Yes, yes, 66 cents less.. but.. no risk. And, chance of triggering more sells -> lower buy back price.

 

Yea it is unusual. I've seen many many bots spam insignificant buys and sells but they don't go all day like an energizer bunny. Maybe a couple hours before shutting down or switching algo. This 1btc sell thing has been all day and is ultra consistent.

[coderjeff]

Now, as interesting as it is to consider its a bot trying to get top dollar for the asks.. wouldnt it really just make more sense to market sell into the 140 wall? Yes, yes, 66 cents less.. but.. no risk. And, chance of triggering more sells -> lower buy back price.

Might not make sense for a whale, but if I wanted to sell a fairly significant amount, I would consider dripping them out rather than causing the price to drop.  Let the robot continue until something else upsets the price.

[ChartBuddy]

[derpinheimer]

It shut down lol.

I got an average of 10.5 seconds with a minimum of 4 seconds and max of 56 seconds.

Only 50 points considered. Early points averaged about 7 seconds. Before it shut down it had some spikes/delays.

[rolling]

Damn, that is crazy. Its actually [At least, looks to me] every 5 to ?? seconds. [Originally saw max of 20, now 51. Hmm]

Ive only watched it for a short while, but it looks like an average is right around 10 seconds.

Now, as interesting as it is to consider its a bot trying to get top dollar for the asks.. wouldnt it really just make more sense to market sell into the 140 wall? Yes, yes, 66 cents less.. but.. no risk. And, chance of triggering more sells -> lower buy back price.

What if the "1 BTC Seller" is the same person as the 2400 BTC wall at 140?  Wants to sell a bunch of BTC to load up for the next push without losing too much ground on the last push.  I am thinking up from here once he has sold it all or he runs out of buyers above 140.

[JimboToronto]

like an energizer bunny

I love how some Americans quote TV commercials.

 

[JimboToronto]

Damn, that is crazy. Its actually [At least, looks to me] every 5 to ?? seconds. [Originally saw max of 20, now 51. Hmm]

Ive only watched it for a short while, but it looks like an average is right around 10 seconds.

Now, as interesting as it is to consider its a bot trying to get top dollar for the asks.. wouldnt it really just make more sense to market sell into the 140 wall? Yes, yes, 66 cents less.. but.. no risk. And, chance of triggering more sells -> lower buy back price.

What if the "1 BTC Seller" is the same person as the 2400 BTC wall at 140?  Wants to sell a bunch of BTC to load up for the next push without losing too much ground on the last push.  I am thinking up from here once he has sold it all or he runs out of buyers above 140.

Good thinking.

[happycamper]

The "1 BTC Seller" is probably an arbitrage bot, for every 1 BTC sold on mtgox there is usually a simultaneous 1 BTC buy over at bitstamp.

[Le Happy Merchant]

Could a whale buy 2-3000 BTC at once to push the price up and then sell them 1 at a time every few seconds to prevent the price from crashing.  Rinse and repeat?

Only if the bids filled in faster than asks at a rate that supports selling without slippage.

In otherwords, probably not, too many other people would be selling and not enough would be buying.

[JimboToronto]

20k coins sold = bottom of the recent beartrap.

20k coins bought = into the 160s.

[JimboToronto]

The "1 BTC Seller" is probably an arbitrage bot, for every 1 BTC sold on mtgox there is usually a simultaneous 1 BTC buy over at bitstamp.

Except for the matter of fiat transfers.

[JimboToronto]

The bidwalls at 120 and 121.5 look like they're ready to to be pulled and the funds used to finance a market-buy push past 150, similar to what they did at 135 on August 30.

[vps15]

i feel like we are going over 150 this time or soon, but i'm way more anxious about buying in at 140 than when we were at back in the 90s and contemplating whether we would hit 100 in July.  I'd rather we just go back down to 110 before i buy again, but hopefully that will happen before too long and i loose my nerve and buy in above 140.

[ChartBuddy]

[JimboToronto]

i feel like we are going over 150 this time or soon, but i'm way more anxious about buying in at 140 than when we were at back in the 90s and contemplating whether we would hit 100 in July.  I'd rather we just go back down to 110 before i buy again, but hopefully that will happen before too long and i loose my nerve and buy in above 140.

You had your chance to buy cheap coins when the price was artificially below 130 during the recent beartrap.

[DaSheep]

The bidwalls at 120 and 121.5 look like they're ready to to be pulled and the funds used to finance a market-buy push past 150, similar to what they did at 135 on August 30.

http://youtu.be/fWvPIEAgsrw

[Walsoraj]

i feel like we are going over 150 this time or soon, but i'm way more anxious about buying in at 140 than when we were at back in the 90s and contemplating whether we would hit 100 in July.  I'd rather we just go back down to 110 before i buy again, but hopefully that will happen before too long and i loose my nerve and buy in above 140.

You had your chance to buy cheap coins when the price was artificially below 130 during the recent beartrap.

Psst: in a speculative market, artificial = real.