What happened!? 16$ and back down to 5$

[adamstgBit]

anyone else see this this crazy spike to 16$ for like 2 mins?

[gnaget]

I was just wondering the same thing, something is fishy, no one could possibly be buying enough to rationalize that

[Cryptoman]

I think the best way to trade a thin market like this is to have standing sell orders at ridiculously high prices and buy orders at ridiculously low prices and just wait for some fools to come along who absolutely HAVE to buy/sell a large number of coins at once.

[bitcoinTrader]

Seems mtgox display error

[gnaget]

There are 2500 btc at 7.20 at mtgox.  There is no reason why it should have jumped to $16.  I have a feeling something is happening to gox again

[Dyaheon]

There are 2500 btc at 7.20 at mtgox.  There is no reason why it should have jumped to $16.  I have a feeling something is happening to gox again

It probably showed a PLN trade as an USD one erroneously.

The trades upto 7.4 seemed real with lots of volume backing them up.

[FalconFour]

Yuck, I'm seeing the past 24-hour history at $4.10... ffs, are we bein' serious here? o_O

The only spike I see is up to $5.00 for a few trades... am I reading the right graph? Or are we really trading Bitcoin at $4? o_O

edit: OK, it must've been a mis-load or something. The graph I saw only had a handful scatter of points, so it must've been some different data. Nevermind me. =P

[adamstgBit]

Yuck, I'm seeing the past 24-hour history at $4.10... ffs, are we bein' serious here? o_O

The only spike I see is up to $5.00 for a few trades... am I reading the right graph? Or are we really trading Bitcoin at $4? o_O

WTF! no

who else sees 5.96 right now

[adamstgBit]

Yuck, I'm seeing the past 24-hour history at $4.10... ffs, are we bein' serious here? o_O

The only spike I see is up to $5.00 for a few trades... am I reading the right graph? Or are we really trading Bitcoin at $4? o_O

WTF! no

who else sees 5.96 right now

its goign up by the seccond at this point ... now 6.06

what graph are you guys looking at, Bitcoin Charts?

[Dansker]

I think there is something wrong with the graphs at mt gox, maybe look at other trading sites for a real indications on price atm.

[Gabi]

6$ now

[WiseOldOwl]

None of my sell orders where filled

$8
$9
$9.5
$10
$11
$12.25

And they have been sitting for over a week...
Something very weird is up...

[adamstgBit]

None of my sell orders where filled

$8
$9
$9.5
$10
$11
$12.25

And they have been sitting for over a week...
Something very weird is up...

ya thats werid
now bitcoincharts are down

[Gabi]

Lol you are right

502 Bad Gateway

[WiseOldOwl]

I guess its time to point out that in reality there is no reason why anyone would be profiting except MtGox.
- There are no rules
- They completely control the bitcoin economy
- Market Makers do this all the time, they are most likely controlling orders and putting through a)friends and "important" orders b) Their personal orders c)whatever is best for them and them alone.

I want to see the code that processes the orders.
Even if this is just a graph error, there has been fishy market activity for a while (most say since the hack and crash).

[BGL]

It kind of appears it's more than just gox that had strange high trades..

09:44:10a <aSM-> !btc
09:44:11a <iPiG-N> (b2c) 5.50 [<>7.30] vol:[]:btc
09:44:11a <iPiG-N> (intrsng) 6.50 [6.50<>9.60] vol:[10]:btc
09:44:11a <iPiG-N> (bitmarket) 6.50 [<>6.50] vol:[10]:btc
09:44:11a <iPiG-N> (ruxum) 5.50 [4.75<>19.00] vol:[83.285]:btc
09:44:12a <iPiG-N> (btce) 5.00 [4.52<>10.70] vol:[160.1849]:btc
09:44:12a <iPiG-N> (cbx) 5.40 [4.60<>6.41] vol:[311.1343]:btc
09:44:12a <iPiG-N> (mtgox) 6.00 [4.6001<>15.9499] vol:[56916.4029]:btc
09:44:13a <iPiG-N> (exchb) 5.9378 [4.7645<>11.15] vol:[369.7833]:btc
09:44:14a <iPiG-N> (btcex) 6.92 [4.20<>6.92] vol:[236.08]:btc
09:44:14a <iPiG-N> (th) 5.84530139 [4.37606<>8.06074212] vol:[3051.1707]:btc

(exchange) <current> [low<>high] vol:ume

[dub0matic]

yea something real fishy goin on maybe tuna. i had a few to sell at 11 but none were sold me is a sad panda now

[BGL]

After the backlog of data finished..

11:23:19a <aSM-> !btc
11:23:19a <iPiG-N> (intrsng) 6.50 [6.50<>9.60] vol:[10]:btc
11:23:19a <iPiG-N> (bitmarket) 5.00 [5.00<>6.50] vol:[15]:btc
11:23:19a <iPiG-N> (ruxum) 5.95 [4.75<>19.00] vol:[111.4593]:btc
11:23:20a <iPiG-N> (btce) 5.50 [4.52<>10.70] vol:[911.2615]:btc
11:23:20a <iPiG-N> (cbx) 6.40 [4.60<>6.41] vol:[410.8491]:btc
11:23:20a <iPiG-N> (mtgox) 6.19962 [4.00<>15.9499] vol:[120394.7496]:btc
11:23:20a <iPiG-N> (exchb) 6.1753 [4.7645<>11.15] vol:[422.3154]:btc
11:23:21a <iPiG-N> (btcex) 6.92 [4.20<>6.92] vol:[236.08]:btc
11:23:22a <iPiG-N> (th) 6.0102 [4.37606<>8.06074212] vol:[4694.5597]:btc

[Desolator]

The spikes shown on MTGoxlive appear to be in error.  The increase slowly bringing it back into the $6.80 territory as of the time of this post seems real though.  It's an unusually high volume of buy orders but there's no pattern.  I think people were watching for the price to stop dropping after lots of exchange accounts likely got logged into via the forum hack and I think it's over as well.  I don't have a great memory but it started dropping from $11 to like $5 before even Sept 3rd let alone the 9th, right?  Anyway, whatever was going on appears to be mostly over as far as everyone can tell so they're buying up BTC as quickly as possible since it's likely to return to its more normal $10 price pretty quickly.