Look at all the little baby profit takers selling right before the $350 wall.
A 30K wall can't hold us down but a 2K one will? I better sell because we will never cross that! Lol
I dont get why people are comparing the 30k wall at $300 to the whole orderbook or smaller walls at higher prices.
The reason the $300 wall fell is because after dropping so much, there were tons of buyers waiting for a chance to buy in. They got it. Now $350 is too high for those who didnt want in at $300, and the demand is a
lot lower (Only applies to Bitstamp) Has this 30k wall appeared at $600 while the price was fairly stable, it wouldnt have been bought. Its only because we are in a downtrend that it fell.
Wrong. That was whale shorts (shorting since 600) that had help in securing a fixed cover position, without affecting the price and causing a rally. It was completely engineered. It was probably their own btc sell wall.
You are delusional. It was a real sell. Get out of lala land.
A big whale can sell to themselves if they are the only one(s) on the exchange. Show me the Average Joe buyers.
What? The wall was eaten by hundreds of smaller buys... no single "whale" ate a large enough chunk of it to seem odd. Biggest buy was like 2.7k.
Also. that fee would be enormous.
Plus it coincides perfectly with the transfer of 40k BTC yesterday. 40k transferred 10-05-14, 40k sold on bitstamp a bit later.
I heard the last 11.5K was eaten in one gulp. Did I hear wrong?
Yep, its because people dont understand how bitcoinity displays purchases.
If 100 people buy 1btc separately, at the same time, bitcoinwisdom would show 100 1btc trades go by. Bitcoinity would show one 100btc trade.
Bitcoinity will "reset" once a trade goes by at a different price. So, imagine you have a 5k wall at 299.99 and a 5k wall at 300.00... you could have up to 10k of volume displayed trading at 300.00 on bitcoinity, trading "seconds ago" at $300. (because 299.99 is rounded and does not reset the "counter"), and each additional trade in that range continues to update the timer to "a few seconds ago", even if 10,000 of it was bought an hour ago, and someone bought 1btc then. it would show 10,001btc "a few seconds ago"
So, the last 11000 btc were eaten without a single seller, or something of the sorts.
Some guy has a spreadsheet showing every trade, so you can see:
https://docs.google.com/spreadsheets/d/1ZZaXtuRJ_Ppo1_R2UczZSIpyreGjxpUMDsimbPneGq4/pubhtml?gid=928136785&single=true