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Author Topic: Today's $5K trade, 2.5% spread between low and high  (Read 1775 times)
Stephen Gornick
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November 26, 2010, 09:35:12 PM
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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?
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November 29, 2010, 05:39:41 AM
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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.

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November 29, 2010, 11:05:55 AM
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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.
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November 29, 2010, 05:00:22 PM
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Ha, well today's activity answers that.

About $5K in sell transactions took out all bids down to $.2151
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November 29, 2010, 05:01:49 PM
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The price somehow went back to .27.

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November 29, 2010, 05:09:25 PM
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The price somehow went back to .27.

Probably somebody's bot took advantage of the low price.

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