The price somehow went back to .27.
Probably somebody's bot took advantage of the low price.
Topic: Today's $5K trade, 2.5% spread between low and high (Read 1988 times)
Probably somebody's bot took advantage of the low price.
The price somehow went back to .27.
Ha, well today's activity answers that.
About $5K in sell transactions took out all bids down to $.2151
About $5K in sell transactions took out all bids down to $.2151
http://www.taters.net/cgi-bin/btc/matrix.pl?axisinc=0.01 will help you out in easy visualizations of the market status and how it would move if you buy / sell whatever amount.
Looking at today's transactions on Mt Gox shows 17,159 BTC traded over 22 trades at the same time. That's about $5K USD ... presumably in a single transaction. The spread between the lowest and highest paid is 2.5% though most of the trade executed at the upper end, $0.2890.
http://bitcoincharts.com/markets/mtgoxUSD.html
Is there anything that this transaction tells us?
I was wondering how much a buy of this size would affect the price. This one transaction represents 0.3% of all bitcoin in existence today. This one transaction was over half of all today's volume. Does this say that today there is a fairly efficient market?
http://bitcoincharts.com/markets/mtgoxUSD.html
Is there anything that this transaction tells us?
I was wondering how much a buy of this size would affect the price. This one transaction represents 0.3% of all bitcoin in existence today. This one transaction was over half of all today's volume. Does this say that today there is a fairly efficient market?
You can fairly easily compute how much a large purchase or dump will move the market by reading the order book and doing a little math. There was even a site that had a calculator like this, but it is down now. A big order done slowly might get a better price if new offers come in, but you can roughly tell. But yeah, the market is much deeper and tighter than it used to be. $5k USD would have completely blown out all the bids or asks just 2 months ago iirc.
Looking at today's transactions on Mt Gox shows 17,159 BTC traded over 22 trades at the same time. That's about $5K USD ... presumably in a single buy. The spread between the lowest and highest paid is 2.5% though most of the trade executed at the upper end, $0.2890.
http://bitcoincharts.com/markets/mtgoxUSD.html
Is there anything that this transaction tells us?
I was wondering how much a buy of this size would affect the price. This one transaction represents 0.3% of all bitcoin in existence today. This one transaction was over half of all today's volume. Does this say that today there is a fairly efficient market?
http://bitcoincharts.com/markets/mtgoxUSD.html
Is there anything that this transaction tells us?
I was wondering how much a buy of this size would affect the price. This one transaction represents 0.3% of all bitcoin in existence today. This one transaction was over half of all today's volume. Does this say that today there is a fairly efficient market?
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