solex
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Activity: 1078
Merit: 1006
100 satoshis -> ISO code
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April 15, 2013, 09:45:00 AM |
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And look there is another relatively large ask wall 1673.7778@ 99.5.
Yeah, still plenty of bitcoins looking to be cashed out it seems. 1673 vaporized. BTC headed up!
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zarl
Member
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Activity: 70
Merit: 10
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April 15, 2013, 09:45:39 AM |
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Hope its ok i ask many questions, im still learning
Why somebody put that big wall at 99.5 ? If somebody want sell so many coins. Wouldent it be better to let the new monday money flow in. Hoping for a small monday rally getting the price up. And then sell little by little for higher price ?
Is it some kind of strategy i miss.
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Hermel
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Activity: 67
Merit: 11
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April 15, 2013, 09:52:40 AM |
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Why somebody put that big wall at 99.5 ?
Imagine you want to get rid of 1'000 coins at the best price possible. You know that when prices move up, the movments will likely stop at a wall. So your best bet is to set the limit to just below the highest wall you think won't be crossed. So in this case, the seller believes that Bitcoin won't raise above 100 USD anytime soon, but also thinks that it will touch 100 USD. In that case, you can be pretty sure to sell everything at 99.5 while still getting a good price. As a corollary: if someone sells at 100.5 USD, the intention is likely a manipulation: here, the seller does not want to actually sell, but rather scare potential buyers by making the sell wall appear big -- that can pay off when doing large OTC transactions that take MtGox as reference.
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zarl
Member
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Activity: 70
Merit: 10
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April 15, 2013, 09:56:12 AM |
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Why somebody put that big wall at 99.5 ?
Imagine you want to get rid of 1'000 coins at the best price possible. You know that when prices move up, the movments will likely stop at a wall. So your best bet is to set the limit to just below the highest wall you think won't be crossed. So in this case, the seller believes that Bitcoin won't raise above 100 USD anytime soon, but also thinks that it will touch 100 USD. In that case, you can be pretty sure to sell everything at 99.5 while still getting a good price. As a corollary: if someone sells at 100.5 USD, the intention is likely a manipulation: here, the seller does not want to actually sell, but rather scare potential buyers by making the sell wall appear big -- that can pay off when doing large OTC transactions that take MtGox as reference. ok, thank you for explaning
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hannesnaude
Full Member
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Activity: 169
Merit: 100
Firstbits : 1Hannes
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April 15, 2013, 09:59:00 AM |
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Hope its ok i ask many questions, im still learning
Why somebody put that big wall at 99.5 ? If somebody want sell so many coins. Wouldent it be better to let the new monday money flow in. Hoping for a small monday rally getting the price up. And then sell little by little for higher price ?
Is it some kind of strategy i miss.
It's fine to ask many questions. Just don't expect any authoritative answers. The only person who knows the logic behind the wall is the one who put it up. That person is unlikely to be present on this board, and even if he/she was here, is unlikely to tell you the truth until after the trade is complete. You will hear lots of theories here, but the fact of the matter is: nobody knows.
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solex
Legendary
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Activity: 1078
Merit: 1006
100 satoshis -> ISO code
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April 15, 2013, 10:01:32 AM |
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Hope its ok i ask many questions, im still learning
Why somebody put that big wall at 99.5 ? If somebody want sell so many coins. Wouldent it be better to let the new monday money flow in. Hoping for a small monday rally getting the price up. And then sell little by little for higher price ?
Is it some kind of strategy i miss.
If everyone thought the market was going up it would race to the moon straightaway. Markets are always a fine balance between buying and selling pressure. When there is a bit of news, or change in sentiment, or some big orders which tip the balance then it ticks up or down for a while. The owner of the big sell order thinks the downward trend is intact, and expects to re-buy at 80 or even 70. They may be right, or they may lose out on a lot of profit. The person who did the recent 6k buy thinks it is going up, and just may be right!
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zarl
Member
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Activity: 70
Merit: 10
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April 15, 2013, 10:09:19 AM |
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ok, yes i start understand something about these walls finally Thanks very much for your answers
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SlipperySlope
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April 15, 2013, 12:08:23 PM |
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No sign yet of the tens of thousands of new Mt. Gox depositors lined up to buy ...
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JayCoin
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April 15, 2013, 12:13:49 PM |
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No sign yet of the tens of thousands of new Mt. Gox depositors lined up to buy ...
It may take a few weeks for any new MtGox user to actually be able to get funds into MtGox to start buying.
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Hello There!
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Geddi
Member
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Activity: 98
Merit: 10
It's the muffins that must be stopped.
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April 15, 2013, 12:16:32 PM |
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No sign yet of the tens of thousands of new Mt. Gox depositors lined up to buy ...
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BitcoinAshley
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April 15, 2013, 12:17:10 PM |
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Hope its ok i ask many questions, im still learning
Why somebody put that big wall at 99.5 ? If somebody want sell so many coins. Wouldent it be better to let the new monday money flow in. Hoping for a small monday rally getting the price up. And then sell little by little for higher price ?
Is it some kind of strategy i miss.
Some of our "bears" see a 2938 sell order and assume it's always yet another 'big player' cashing out for good, and also assume there is an unlimited supply of these, to drive the price down to like $2. Sometimes it is someone cashing out, but often someone's just trying to make 'mad gainz yo' from the dips. What often happens is that someone might be selling, say, 1500 bitcoins at $99.5, hoping that the price will go back down to $95 so they can buy again and make a profit when it goes up. We can call this "shorting" or "day-trading." This person may believe that the price will hover back and forth between, say, $90 and $100, for another day before the new money gets comfortable enough to buy in. They wish to make some 'profitz' from other day traders who may not be so good at guessing the price movement as they are. Some people day-trade on the ups and downs with a handful of coins, some people do it with thousands. And some of the 99.5 sell orders are just people with lots of money trying to cash out to buy a new house or whatever. Oh yeah, and what Hermel said. That too
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just1nmc
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April 15, 2013, 12:24:01 PM |
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No sign yet of the tens of thousands of new Mt. Gox depositors lined up to buy ...
In fairness, gox only verifies about 1,000 per day. And there's still a lot of people waiting to see which way the price goes before they make a decision. I think it's going to take big individual buyers or sellers to push it either way.
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GreekGeek
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April 15, 2013, 12:34:20 PM |
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No sign yet of the tens of thousands of new Mt. Gox depositors lined up to buy ...
In fairness, gox only verifies about 1,000 per day. And there's still a lot of people waiting to see which way the price goes before they make a decision. I think it's going to take big individual buyers or sellers to push it either way. +1
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retirement fund : 1NBM5DM317RfWsHXKUfPUDtba2scavpPoB
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DougTanner
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April 15, 2013, 12:34:43 PM |
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Starting the morning off downwards a bit.
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zkay
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April 15, 2013, 12:56:11 PM |
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Back up to $96. Bought back in at $90 yesterday, hoping it wasn't a mistake.
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wonkytonky
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April 15, 2013, 01:11:06 PM |
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this is boring lol someone do something.. tired of watching them daytraders doing the same rounds over and over again in the 95-100 zone.
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Whatever. And no you haven’t been in bitcoin since 2010. Plus if you really feel the way you do. Then sell. Have conviction. If not keep pounding sand.
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cedivad
Legendary
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Activity: 1176
Merit: 1001
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April 15, 2013, 01:17:48 PM |
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Why during the 2011 crash the price rested stable at around 15 and now is holding at around 100? What do these psicological levels have to do with the behaiviur after a crash?
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My anger against what is wrong in the Bitcoin community is productive: Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)Hashfast.org - Wiki for screwed customers
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humanitee
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April 15, 2013, 01:35:05 PM |
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Over 1 million BTC sold over the past week. Price is holding in the $90-$100 range.
Bullllllllish.
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gizmoh
Legendary
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Activity: 1428
Merit: 1000
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April 15, 2013, 01:37:50 PM |
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some bots trying to push the price down with small trades of 0.01/0.05 on ask side..
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How Ripple Rips you: "The founders of Ripple Labs created 100 billion XRP at Ripple's inception. No more can be created according to the rules of the Ripple protocol. Of the 100 billion created, 20 billion XRP were retained by the creators, seeders, venture capital companies and other founders. The remaining 80 billion were given to Ripple Labs. Ripple Labs intends to distribute and sell 55 of that 80 billion XRP to users and strategic partners. Ripple Labs also had a giveaway of under 200 million XRP (0.002% of all XRP) via World Community Grid that was later discontinued.[29] Ripple Labs will retain the remaining 25 billion"
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molecular
Donator
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Activity: 2772
Merit: 1019
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April 15, 2013, 01:49:47 PM |
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No sign yet of the tens of thousands of new Mt. Gox depositors lined up to buy ...
It may take a few weeks for any new MtGox user to actually be able to get funds into MtGox to start buying. what about the users that got verified 2 weeks ago, then?
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PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
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