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July 25, 2014, 12:26:34 PM |
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Hello all! I haven't made many posts here (maybe none) but I'm constantly stalking, and have been involved with Bitcoin for a while.
I'm wondering if anyone here knows any metrics about just how much "whales" can affect the price of Bitcoin on a given exchange. That is, how much do excessively large buy/sell orders affect momentum and ultimately price?
Of course a key variable is going to be the magnitude of volume on the given exchange.
So, for example, hypothetically, how much would one expect the price to shift with an order of $1,000,000 - $100,000,000 spread across multiple exchanges?
Blockchain has a graph claiming that right now there is about $5,000,000 in volume on exchanges per day, give or take (the graphs weren't labeled/described terribly well so I may be incorrect). Are there any hard metrics for price momentum as a function of increases in trade volume by x%, beyond the obvious?
Thanks for any info or thoughts!
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