I'm trying to understand how much a currency would move once an order from the order book has been taken down.
For example, if the price is currently at 0.1000 BTC (for a particular Altcoin), and the first BID order is for 1 whole Bitcoin at say 0.0999.
If this order is taken up, then how much would the currency move upwards from 0.1000?
Appreciate the help,
JH
The order book basically lists the supply and demand for the coin. If someone purchases a particular altcoin and buys all the ones listed between the .1-.15 range for instance, the price would rise to .15 as that would be the cheapest listed on the market until other users list lower priced coins or adjust their listings.
Increased demand will drive the price upwards and increased supply will drive the price downwards.