Not unless there is limited liquidity.
I.E. HUGE buyer places HUGE buy order at market price. All the market price sell orders get filled, all the market price sell orders at price + 5, 10, 15, 20, etc. get filled. However this spike would probably be momentary and there would be a significant correction.
All the sell orders spaced from 250, 500, etc. on will simply slow down any rise that happens. A lot of people learned their lesson from the sharp rise to $260. Same thing with buy orders. As we saw in April, there are enough buy orders at and below 50 to catch a pretty sharp falling knife.
I.E. HUGE buyer places HUGE buy order at market price. All the market price sell orders get filled, all the market price sell orders at price + 5, 10, 15, 20, etc. get filled. However this spike would probably be momentary and there would be a significant correction.
All the sell orders spaced from 250, 500, etc. on will simply slow down any rise that happens. A lot of people learned their lesson from the sharp rise to $260. Same thing with buy orders. As we saw in April, there are enough buy orders at and below 50 to catch a pretty sharp falling knife.
Some walls push, some walls pull, some walls do both, depending on what the rest of the market is doing.
