jothan (OP)
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January 14, 2012, 06:28:03 AM |
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The priced topped at 6.75, leaving a noticeable .60 btc hole in the offer/demand curves.
What now ?
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Bitcoin: the only currency you can store directly into your brain.
What this planet needs is a good 0.0005 BTC US nickel.
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byronbb
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January 14, 2012, 06:29:20 AM |
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140k bullet. This is the goatse of spreads....
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cypherdoc
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January 14, 2012, 06:30:13 AM |
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duking it out.
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jothan (OP)
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January 14, 2012, 06:32:43 AM |
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140k bullet. This is the goatse of spreads....
It certainly was quite a show on Mtgoxlive, in more ways than one.
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Bitcoin: the only currency you can store directly into your brain.
What this planet needs is a good 0.0005 BTC US nickel.
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incraft3817
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January 14, 2012, 06:33:37 AM |
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jothan (OP)
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January 14, 2012, 06:35:15 AM |
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Thanks, but my guitar is already tuned pretty nicely.
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Bitcoin: the only currency you can store directly into your brain.
What this planet needs is a good 0.0005 BTC US nickel.
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bittenbob
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January 14, 2012, 06:41:47 AM |
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This is classic bitcoinca. Whenever the price moves too much in one direction bitcoinica executes large buys or sells as positions get liquidated. Its really a snowball effect and how we got up here so quickly.
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jothan (OP)
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January 14, 2012, 06:43:16 AM |
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This is classic bitcoinca. Whenever the price moves too much in one direction bitcoinica executes large buys or sells as positions get liquidated. Its really a snowball effect and how we got up here so quickly.
I almost zhoutonged myself too, I'm long and I had to do an emergency deposit.
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Bitcoin: the only currency you can store directly into your brain.
What this planet needs is a good 0.0005 BTC US nickel.
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jothan (OP)
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January 14, 2012, 06:45:06 AM |
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Sheesh, another one. ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif)
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Bitcoin: the only currency you can store directly into your brain.
What this planet needs is a good 0.0005 BTC US nickel.
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bittenbob
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January 14, 2012, 06:51:21 AM |
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all I know is little old organic me could harvest $0.20 swings on laggy ass mtgox
MOAR!!!
I feel no need to put myself at extra risk and give someone else more money at bitcoinca. I have only ever traded on mtgox.
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adamstgBit
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January 14, 2012, 06:55:43 AM |
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theory! we are being manipulated what looks like big buys are actually big sells notice the spike down ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fbitcoincharts.com%2Fcharts%2Fchart.png%3Fwidth%3D940%26m%3DmtgoxUSD%26SubmitButton%3DDraw%26r%3D2%26i%3DHourly%26c%3D0%26s%3D%26e%3D%26Prev%3D%26Next%3D%26t%3DS%26b%3D%26a1%3D%26m1%3D10%26a2%3D%26m2%3D25%26x%3D0%26i1%3D%26i2%3D%26i3%3D%26i4%3D%26v%3D1%26cv%3D0%26ps%3D0%26l%3D0%26p%3D0%26&t=663&c=SqRGZjQ0pYXAEQ) it would appear the seller sells into the bid walls, and then buys 0.1 bitcoin on the ask side.... making it look like a big buy with high vol. when in fact it was a big sell with very little vol. shooting up the price again.
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notme
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January 14, 2012, 06:57:39 AM |
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The upswings were much higher volume overall than the downswings. I watched them all.
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notme
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January 14, 2012, 07:00:18 AM |
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I suspect there were multiple players in that
Clearly... there was significant volume on both sides, but the bulls won out through higher volume. The price rise is legit IMHO.
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jothan (OP)
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January 14, 2012, 07:00:29 AM |
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it would appear the seller sells into the bid walls, and then buys 0.1 bitcoin on the ask side.... making it look like a big buy with high vol. when in fact it was a big sell with very little vol. shooting up the price again.
The buy came first. Watched it live. I confirm, the buy nearly obliterated the asks up to 6.80.
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Bitcoin: the only currency you can store directly into your brain.
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adamstgBit
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January 14, 2012, 07:00:59 AM |
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zhoutong
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January 14, 2012, 07:01:43 AM |
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Again, it's pretty clear that someone left some "insufficient funds" sell orders while buying.
I watched the whole thing live too, the sell simply came too quickly.
I wonder why Mt. Gox left such orders open at all, did any real-world exchanges do that?
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zhoutong
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January 14, 2012, 07:02:43 AM |
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I suspect there were multiple players in that
What I don't understand is this. The buy comes first, clearing out quite a bit of asks. Then, when there is no volume in that range, a large sell comes, most of it at prices lower than where the buy started. Does someone get off on losing money? If it's done by a single person, then yes, the guy will lose money. So most likely it's accidental.
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notme
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January 14, 2012, 07:03:30 AM |
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That's just disagreement. Low volume order book + disagreement = Giant candle with little final movement. Your manipulation concern is valid at times in this market, but this is not one of those instances.
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jothan (OP)
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January 14, 2012, 07:05:50 AM |
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Again, it's pretty clear that someone left some "insufficient funds" sell orders while buying.
I watched the whole thing live too, the sell simply came too quickly.
I wonder why Mt. Gox left such orders open at all, did any real-world exchanges do that?
If that's what the guy did, he provided a lot of liquidity to himself.
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Bitcoin: the only currency you can store directly into your brain.
What this planet needs is a good 0.0005 BTC US nickel.
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M4v3R
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January 14, 2012, 07:22:32 AM |
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![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fdl.dropbox.com%2Fu%2F1127246%2Fdec-jan-02.png&t=663&c=xOJA5QFuv5zfiQ) The uptrend line was intact, we bounced from it perfectly. That means that short term we are bullish as never.
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