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Author Topic: how much does it take to move bitcoin bid  (Read 505 times)
gen. specific
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September 05, 2011, 06:04:23 PM
 #1

Hello, since bitcoins are currently unregulated I can freely ask this

How much money does it take to move the bitcoin bid and ask. If I threw $1,000,000 at the buy side will bitcoin go up $5 starting a rally?

Similarly if I threw $1,000,000 on the [short] sell side will bitcoin drop to $1 making a nice entry point. Would I even be able to cover?


Thoughts appreciated thanks
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gen. specific
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September 07, 2011, 12:52:40 PM
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MiningBuddy
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September 07, 2011, 01:16:19 PM
 #3

For an easy quick way visit http://mtgoxlive.com/orders and hover your mouse over the price you wish to move to and it will tell you how many bitcoins/$'s are required to do so (assuming you are buying/selling on mtgox exchange)
As for your question on causing a rally I cannot answer that.

hannet
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September 07, 2011, 10:51:38 PM
 #4

$1,000,000 is much larger then the entire order book on both the bid and asks sides at all public exchanges. Manipulating the market is certainly possible. However, this is a very risky activity and more likely then not you would not be able to profit from this.
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September 09, 2011, 01:35:18 AM
 #5

I understand this is not necessarily profitable, was just looking for second thoughts and hoping people would provide resources

thanks so far!
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