...which will disappear when the price comes closer to it.
What if a huge sell came in, would it still disappear in time?
Yes. Because it's not a real wall but one placed personally by Mark Karpeles.
Topic: Massive bid wall - over $2,000,000 - page 5. (Read 6924 times)
What if a huge sell came in, would it still disappear in time?
Yes. Because it's not a real wall but one placed personally by Mark Karpeles.
Odds are price is going to tank soon, it seems like a lot of artificial movement is attempting to force momentum upwards and failing pretty badly.
But can't a bid wall attract a seller who wants to get rid of a huge amount? I mean, if someone wanted to sell a huge amount of coins that would just crash the price, probably below the bid wall to begin with. So, if there is an opportunity to get rid of a hug amount of coins at a roughly $8 cost per coin, it is a possibility.
and it's gone...
Edit: to the owner of that wall...besides buying bitcoin....good luck getting your $2,000,000 out of gox in any timely manner.
Edit: to the owner of that wall...besides buying bitcoin....good luck getting your $2,000,000 out of gox in any timely manner.
I think the most effective thing to do would be to break that important 120$ resistance and then leave the wall there till it moves further, then sell somewhere above that. It takes balls to attempt that however;)
Most effective to do what?
I think the most effective thing to do would be to break that important 120$ resistance and then leave the wall there till it moves further, then sell somewhere above that. It takes balls to attempt that however;)
Wall has been pulled.
I had sells, but now I think it is a bit too dangerous.
This is the bid wall's exact purpose - manipulation and fear.
It's going down.
Or perhaps we don't need to go into conspiracy theories and that someone just placed a bid wall they're going to pull.
Or even that most traders just set $100 because it's a round number, but reconsider in more detail when the price drops close. If the price suddenly drops with force you pull the bid and move it lower.
It is pretty but a pumpers gotta pump. 
Wow
Someone is looking to buy 2 million worth of bitcoins - that is 21k in btc coins.
I had sells, but now I think it is a bit too dangerous. This bidder could easily send the price to 127 and it would be difficult for bears to get it down to even 120 again.
Someone is looking to buy 2 million worth of bitcoins - that is 21k in btc coins.
I had sells, but now I think it is a bit too dangerous. This bidder could easily send the price to 127 and it would be difficult for bears to get it down to even 120 again.
Seems like someone wants to buy that NY appartment:
https://bitcointalksearch.org/topic/2013-05-03-huffpo-trump-soho-condo-selling-for-19m-in-bitcoin-only-194529
https://bitcointalksearch.org/topic/2013-05-03-huffpo-trump-soho-condo-selling-for-19m-in-bitcoin-only-194529
Odds are price is going to tank soon, it seems like a lot of artificial movement is attempting to force momentum upwards and failing pretty badly.
What if a huge sell came in, would it still disappear in time?
No.
Orders are executed in the order that they are received. If someone sells BTC40,000 with a market order, all of the current bids in the way will be executed.
It might take an hour for MtGox to process an order that large, though.
I've never traded on mtgox but if mtgox has the all-or-nothing option to place orders then it's very easy for a bot to be scripted and place these bid walls and price watch. If we're talking about a 20k bid wall being placed in a single order, then the bot has more than enough time to react to cancel that order.
Alternatively, as the people above are saying, it's very easy to have the bot cancel order if the price starts getting close.
Alternatively, as the people above are saying, it's very easy to have the bot cancel order if the price starts getting close.
No, it would be filled with a massive sell order. When he says "disappear" I think he means that many of the orders typically get canceled when the market starts moving down.
MtGox can "draw" anything in their own data.
Or perhaps we don't need to go into conspiracy theories and that someone just placed a bid wall they're going to pull. ...which will disappear when the price comes closer to it.
What if a huge sell came in, would it still disappear in time? Excuse my ignorance, I imagine program trades are very fast to respond, but if something is on the books, can't it be taken up with a HUGE sell?
IAS
...which will disappear when the price comes closer to it.
i thought there were no such thing as "fake" bid walls?
I did too. Until I noticed these walls disappear right before the price touches them. MtGox can "draw" anything in their own data.
The joys of an unregulated market... Truly a beauty if I do say so myself 
...which will disappear when the price comes closer to it.
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