tons of large buy orders and a couple smaller sell orders. This'll get interesting
I'm still figuring out how this buying/selling works, sometimes i hear: WALL HUGE WALL AT CRYPTSY, and those walls are bad right? But is a wall a big BUY or Sell order?
Big Sell orders = bad?
Big Buy orders = good?
Help me please!
depends how you look at it. If you want market to go up, it won't if there's tons of sell orders for very low. If you want the market to go down because you sold your doge high and want to buy back in at a lower price, most likely a lot of other people are going to try buying back in and can cause the market to spike rather quickly.
People seem to throw the phrase "whale" around easily (I throw it around) but remember that there are people who trust in doge but just want to attempt to get more doge, so we're throwing around a bitcoin or 2. It's not to manipulate the market or cause a spike/trough but to just make profit on the market's conditions
Then there's people like right now throwing around 10 bitcoins. Maybe they see the market going back up and are like "Fuck it, gotta buy back in before it goes up too much"
edit: also, if you want to buy 2 btc worth of doge, good luck being able to buy it at the "current" price. You'll have to go higher which will sway the market, but once my order is fulfilled I don't care what happens. It's all about getting your order filled.
If you want to sell, you're not going to be able to sell at the current price again, because there's not enough "buy" orders at that current price. If you want to sell 500k doge, you'll have to either sell them in small chunks, or just set the whole thing for a few points below the current price. This will again sway the market and seem like there's "whaling" going on
