I believe we are headed down. I speculate that the only reason the market has not yet headed down is because there are certain traders/bots (Bitconica?) which have been artificially inflating the price. I've watched the same patterns play out over and over again the past few days: push price up $.20, implement wall at -$.25 of the high the price went up to, sell some BTC at higher price then BAM, down $.20 within seconds, only for the same pattern to start all over again. Dunno exactly why this pattern keeps happening perhaps some high frequency traders are trying to squeeze out every last penny before a bear market truly sets in.
Just noticed 0.123 bot is back. I've seen the bot mentioned in the forums before but have never truly paid attention to its actions until today.
Just noticed 0.123 bot is back. I've seen the bot mentioned in the forums before but have never truly paid attention to its actions until today.
The 0.123 bot is back with a vengeance indeed. From what I have observed in the past this bot seems to drive the price up.
Is this how the price gets inflated with virtually no volume?
The bot tries to trigger other bots which creates volume. The 0.123 bot comes out when volume is low and tends to increase it, causing a change in price.
Can you actually see these as bids and asks in the order book, or do they just occur as immediate buys/sells ?
