Atom (OP)
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"Basics Of Generational Dynamics" - Look it up!
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June 26, 2011, 08:27:24 PM |
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My take
So I was taking a look at the market data over at tradehill, and I gotta say I'm liking what I'm seeing - What was a very thin market yesterday is now starting to stack up with maximum size orders (200BTC max value @ Tradehill per order) at nice tight intervals, which means that any start in movement on the price can be immediately met by someone offering large quantities at near or slightly above market price. Looking at the attached chart it looks like we're at the end of a brief period of consolodation before the next leg up, and what looked like a parabolic spike (as in bubble) now looks like an initial overreach with the price that was flushed out by the panic last week leaving more BTC in stronger hands. Really the question is will it get easier to get your $$ into the markets, because right now the wait is at least a week for a new account assuming it goes smoothly, which is ridiculously poor for a financial product as liquid at BTC. If it doesn't get easier than things could get volatile when all the buyers with $$ and not BTC do their major purchasing, and everyone is left holding. If the new hands are just looking to make incremental profits and get out, that'll be bad for the market but if they're buying, selling, and rebuying that will actually assist with stability by providing *real* liquidity and arbitrage.
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