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Author Topic: BTCE TESTS 100!!! bounces back to 580.  (Read 3599 times)
chessnut (OP)
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February 10, 2014, 02:41:08 PM
 #21

Amazing how all these crazy events and buying opportunities happen the day i was knocked out on my bed because of a flu  Tongue

Anyways, i think Bitcoin crashing to $102 in BTCe is a NON-EVENT, as in it doesn't count. That's because it happened due to 1. Error by a large seller, 2. Software bug on BTCe platform triggered this crash and corrected it immediately. Not that many people got to buy, those who got lucky well good for you, you made a good profit !

These errors happen sometimes, even in stock markets (i've personally seen it once in a project i've worked on). Usually in regulated markets, trades would be reversed in such incident.
I think it has affected the market, rational or not.
 there is hellish volatility at the moment, and it seems like the bulls have their foot in the door.

j3steven
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February 10, 2014, 02:51:27 PM
 #22

I think while it was a once in a lifetime spike, accident or not, it affected the market a lot.  For a while this morning the prices were bouncing between $450-550 for a while, then 550-600, and now about 650ish. 

I bought a few around $550 when I had the chance, and got some buy & sell orders in line for anything else that could happen today

akujin
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February 10, 2014, 06:17:53 PM
 #23

I thought $102 was the lowest.... but I found out somebody else beat btc-e  Grin Grin Grin

BTC: 165rKPfGJ3ndrG1QziHR6ACnViP4EQHNK7
LTC: LMysGMFjmF9gR9RzStij74msXrDP1NqW8X
DOGE: DRZXGgcKN8kANwko3VycsBVVGqfy6XsSpM
Spaceman_Spiff
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February 10, 2014, 06:38:54 PM
 #24

Dafuq, that thing was real??
chessnut (OP)
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February 10, 2014, 06:43:22 PM
 #25

Dafuq, that thing was real??

yup saw it happen with my own eyes, while i was adjusting my buy order.......

Protagonus
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February 10, 2014, 07:14:15 PM
 #26

So, why did this exchange drop 400.00 more than all others?

Also, why did they shut off deposits since then?
myself
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February 10, 2014, 07:18:00 PM
 #27

So, why did this exchange drop 400.00 more than all others?

Also, why did they shut off deposits since then?


/tin foil hat ON
mtgox coins sold on btc-e ?
/tin foil hat OFF

Los desesperados publican que lo inventó el rey que rabió, porque todo son en el rabias y mas rabias, disgustos y mas disgustos, pezares y mas pezares; si el que compra algunas partidas vé que baxan, rabia de haver comprado; si suben, rabia de que no compró mas; si compra, suben, vende, gana y buelan aun á mas alto precio del que ha vendido; rabia de que vendió por menor precio: si no compra ni vende y ván subiendo, rabia de que haviendo tenido impulsos de comprar, no llegó á lograr los impulsos; si van baxando, rabia de que, haviendo tenido amagos de vender, no se resolvió á gozar los amagos; si le dan algun consejo y acierta, rabia de que no se lo dieron antes; si yerra, rabia de que se lo dieron; con que todo son inquietudes, todo arrepentimientos, tododelirios, luchando siempre lo insufrible con lo feliz, lo indomito con lo tranquilo y lo rabioso con lo deleytable.
kokojie
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February 10, 2014, 09:32:49 PM
 #28

I think it's pretty ridiculous that BTC-E would allow someone to sell that much, crashing the value by 85%, and not warn them in BIG RED LETTERS, about the dumb trade they are about to process.

btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
Equus
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Why the long face?


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February 10, 2014, 09:47:29 PM
 #29

I'm not a trader, someone please explain how this was possible.


Several people placed limit buy orders on the exchange, meaning they named the prices at which they were willing to buy coins.

Somebody else then placed a huge market sell order, meaning that they sold thousands of coins at whatever price was available.

Everybody who had a limit order higher than $100 US saw that order filled before the market seller ran out of coins.



Then we all started wondering if the seller was a genius or an idiot.

-.-. -.-. -- ..-.
Gleason
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February 10, 2014, 10:09:10 PM
 #30

So, why did this exchange drop 400.00 more than all others?

Also, why did they shut off deposits since then?

because there are only so many coins on the order books on each exchange. it just so happened, if you wanted to sell 3000+ coins on BTCE at any price available this morning, you can take it down to $100 in a quick 10 second period before it corrects/ new orders are filled in the books and it goes back to normal-ish prices.

I used all my fiat and bought back in, less than 1 minute before that happened. god dammit. It was fluctuating between the 100s and 400-500s back and forth for a good 10 seconds before it finished/corrected. I could have probably snuck in a $300 order if i had the fiat.

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