I can be a bear trap, honey pot for a suckers rally. Uses can be multiple. You can't just buy for a Million bux on Gox without crashing the market! So worst case, the strategy might be to make a staged $30 dump and let the wall catch the crumbs, after which, they will drive the price up again with as little as $30,000. We have seen that numerous times.
It can, as suggested, also be a stabilizing wall!
Wall street staff traders Don't set up walls, that would be illegal, but they are obliged to trade non traded stocks to each other so there are no gaps in the graphs on boring days.
Topic: These two orders on MtGox - what the hell? (Read 1317 times)
Go back and look at the price action when we broke $10. It temporarily jolted down below again, making anyone positioned like this a lot of money. People get cold feet about new orders of magnitude.
that 2 walls started the rally since 90 so be happy the owner put them there
that's called crash insurance.
Good god - what quantity of BTC are they holding and wanting to protect?
You're saying they've got a spare million $ to leave on the exchange just to 'protect' their position?
Why so firm on the bid? Why not move the wall up a bit with each increase in exchange rate?
I'm suspicious that MtGox itself is behind these bids...
Who cares it it is MtGox. Either the BTC are for sale at a given price or they aren't. Wall don't mean much, but they mean the same regardless of who owns them.
that's called crash insurance.
Good god - what quantity of BTC are they holding and wanting to protect?
You're saying they've got a spare million $ to leave on the exchange just to 'protect' their position?
Why so firm on the bid? Why not move the wall up a bit with each increase in exchange rate?
I'm suspicious that MtGox itself is behind these bids...
Occasionally they move up and we have a massive rally. We saw it with the $30 wall, the $70 wall, and we will see it with the $90 wall 
Someone has to pick up the pieces when the bears have a hissy fit.
that's called crash insurance.
These two walls have been in place since ~93.5
They represent more than $935,000.00 that has simply sat there and watched the price go from (say) $93.5 to $108, where if they'd simply bought at $95 they wouldn't have left $140,000.00 on the table, a profit of 15% on close to 1 million dollars
They represent more than $935,000.00 that has simply sat there and watched the price go from (say) $93.5 to $108, where if they'd simply bought at $95 they wouldn't have left $140,000.00 on the table, a profit of 15% on close to 1 million dollars
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