Topic: Massive Spread Currently On Mt. Gox - page 2. (Read 4475 times)
We just need more exchanges and fewer people holding onto BTC as an investment. They're the irrational buyer/sellers and then people freak because Mt Gox can't handle the overload of requests.
Signs of a potential correction again ?
We saw very low volumes when it traded around 20-22 today. Now it's been dipping towards that support level of $18 (which seems to be the cause of recent increase in spread, someone is selling at best-market offer), if it breaks we might be heading for another roller coaster ride. Better fasten your seatbelt
We saw very low volumes when it traded around 20-22 today. Now it's been dipping towards that support level of $18 (which seems to be the cause of recent increase in spread, someone is selling at best-market offer), if it breaks we might be heading for another roller coaster ride. Better fasten your seatbelt
It's setting up for another massive rally as soon as the panic selling stops.
EDIT: Anyone else having trouble with MtGox order entry again?
EDIT: Anyone else having trouble with MtGox order entry again?
It's all about whether some large money influx changes things or a bust occurs. In the latter case, you won't get much buying volume on there, and flattening fluctuations turns into desperate attempts to sell before the trend pushes prices further down. Since some people rightfully fear that happening, nobody really cares about temporary spread enough to fix that. Or maybe everything just happens too fast.
You are experiencing chaos by a force stronger than day-trading; stabilization takes time and a usable estimate on price. Just watch it unfold; it should normalize later.
If this becomes a panic, you won't be able to tell at all what will happen.
You are experiencing chaos by a force stronger than day-trading; stabilization takes time and a usable estimate on price. Just watch it unfold; it should normalize later.
If this becomes a panic, you won't be able to tell at all what will happen.
Can anyone who's more familiar with economics explain how this can be remedied? The sell wave is pretty big now, and buy orders are diminishing.
EDIT: Now the spread's smaller, it used to be near $2 spread between buy and sell.
EDIT: Now the spread's smaller, it used to be near $2 spread between buy and sell.
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