[2014-09-01] What Makes Bitcoin Exchanges Tick?

[erono]

http://www.coindesk.com/makes-bitcoin-exchanges-tick/

The next trade in the example above will execute either at the bid of $96.281 in case of a seller stepping in, or at $98 if a buyer is willing to pay the ask; more on this later.

It’s important to note that transactions between sellers and buyers only occur if there are open bid and ask orders at the same price level.