Anybody else notice something funny about TradeHill trading activity the last few days?
The other day I saw someone dump 8000-9000 BTC on TradeHill. Now, during the past 15-20 hours as the Gox price increased from 2.20-2.40 with a spike at 2.50, there are large sell orders set between 2.20 and 2.30 on TradeHill keeping the price lower. It kept me from buying at 2.2. Someone with large sums of cash may be playing both exchanges now.
No one is leveraging Gox against TH. There isn't enough volume on TH to do that. Just one of those things.
Eh, TradeHill's volumes have been up lately. What was it at the other day, like 40,000 or something? Also, one could also use the same logic to say that the low volume would make it easy to do. The big players, I assume, naturally congregate at Gox and the low-mid range players stick with TradeHill.
Besides, there are little pump-n-dump patterns that emerge on TradeHill from what I've noticed. The time that it takes for someone to dump on TradeHill seems to increase when the price increases rapidly in congruence with the price at Gox. But, if there is a delay in the time it takes for the TradeHill price to match Gox, the dumps seems to come sooner but less frequently. In other words, I am outlining 2 general scenarios:
Scenario 1: Price on Gox increases but price on TradeHill remains relatively stable. When enough buy pressure leads to a price match, there is typically a quicker dump on TradeHill, but NOT as quick of a buy-back. After all, it took forever for the price to catch up...what's the certainty that someone will be there to buy my coins back, even at market value?
Scenario 2: Price on Gox increases and price on TradeHill increases congruently. In this case, people are aware of the buying going on and seem more reluctant to sell. But, when that sell comes, people buy again and dump again as more buy orders are placed.
I think it's quite plausible that someone could be blocking the price increase because they want to be the first to dump. I'd do it if I had the cash. I would also place large bid walls and sell into them to create the illusion of volatility which sort of reminds me of something else that's been going on...