Current (16th) Mtgox Depth post mini-crash

TakeTheSkyRoad

full member

Activity: 173

Merit: 100

Personally I hope so since I've been kicking myself all week for selling up at $230 and I'm waiting to buy back in Cheesy

My small buy orders are in the $370 to $405 range since I don't expect to be heading back to last week's numbers. Well, I'm not prepared to bet on it anyway ! Certainly bitcoin is an exciting experience anyway and I'm learning about trading in it's most basic form.

Also there has been some speculation regarding the massive bitcoin movements on the blockchain in the last day or two. My personal take is that if anything this is big players moving coin to BTC China. I haven't checked but I bet there is a much stronger bid depth there for anyone wanting to sell.
Also anyone wanting to manipulate the market needs to cover 3 exchanges now, Gox, Stamp & China.

Oh, I've been lurking for months on the wall watching thread... does it show ? Roll Eyes

lucaspm98

sr. member

Activity: 280

Merit: 250

Yeah, it will probably crash at least a little bit. Some people are trying to cash out while the price is still double what it was just a week or two ago.

TakeTheSkyRoad

full member

Activity: 173

Merit: 100

Hey, this was intended for the speculation forum but since I can't post there this is going here and maybe it will be seen lol

Anyway there was that mini-crash not long ago and now lots of people seem very pleased with themselves that the price has bounced back to $440+ but what about the bid depth ?

At the moment it looks like a 1k market sell pushes the price down to 415 but a 1k market buy only moves the price to 450.
(I'm using http://trading.i286.org btw)

Maybe this is a noob mistake but there still looks to be a huge pressure to sell.

Topic: Current (16th) Mtgox Depth post mini-crash (Read 453 times)