Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32665.

barbs

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Quote from: strawbs on September 03, 2013, 08:11:35 AM

Quote from: Zangelbert Bingledack on September 03, 2013, 08:02:57 AM

Look at the charts over the past month. A pattern is becoming obvious. Someone wants in, at any cost.

They're trying not to push the price up too much, but the moment it simmers down a bit they push it right back up just under 150 so as not to induce panic buying. Some whale is building a position as aggressively as their caution will allow. It looks like they have a whole lot more to move. We are certainly not yet past the days where one whale trying to get in can double or triple the price. In fact, a true Great White could push it much higher than that. Who can say how far this will go? It's an open-ended proposition.

You're assuming there's just one individual making every purchase over the last month??? Roll Eyes

I mean .. the big moves are one market buy.. you guys are telling me multiple traders are doing these market buys at the exact same time?

Ok. Cool

strawbs

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Quote from: Zangelbert Bingledack on September 03, 2013, 08:02:57 AM

Look at the charts over the past month. A pattern is becoming obvious. Someone wants in, at any cost.

They're trying not to push the price up too much, but the moment it simmers down a bit they push it right back up just under 150 so as not to induce panic buying. Some whale is building a position as aggressively as their caution will allow. It looks like they have a whole lot more to move. We are certainly not yet past the days where one whale trying to get in can double or triple the price. In fact, a true Great White could push it much higher than that. Who can say how far this will go? It's an open-ended proposition.

You're assuming there's just one individual making every purchase over the last month??? Roll Eyes

01BTC10

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Quote from: barbs on September 03, 2013, 08:00:29 AM

Ok so whale buys up coins from 143-148 and then puts a 1k ask wall at 147

Please explain how this is a real market based on fundamentals and not panic buyer manipulators

Yes because there is certainly only one trader on this market.

Zangelbert Bingledack

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Look at the charts over the past month. A pattern is becoming obvious. Someone wants in, at any cost.

They're trying not to push the price up too much, but the moment it simmers down a bit they push it right back up just under 150 so as not to induce panic buying. Some whale is building a position as aggressively as their caution will allow. It looks like they have a whole lot more to move. We are certainly not yet past the days where one whale trying to get in can double or triple the price. In fact, a true Great White could push it much higher than that. Who can say how far this will go? It's an open-ended proposition.

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

barbs

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Ok so whale buys up coins from 143-148 and then puts a 1k ask wall at 147

Please explain how this is a real market based on fundamentals and not panic buyer manipulators

barbs

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Quote from: ardana123 on September 03, 2013, 07:53:51 AM

Quote from: crazy_rabbit on September 03, 2013, 07:49:20 AM

Quote from: ardana123 on September 03, 2013, 07:05:20 AM

I personally think some big money is waiting in the shadows. Imagine if a couple billion moved in right now. Popularity would skyrocket, everyone would go all-in (because the initial billionaire pushed the price up to extreme highs already), pushing the price up even further, earning the billionaire who invested his money a huge ROI? Why wouldn't they do this? Prolly because the market is not liquid enough for this kind of money. Maybe the bitcoin ETF from the winklevii will allow this kind of money to move in.

Who would you even SEND a billion dollars to if you wanted to buy that much bitcoin? Gox? You'd log into your gox account and it would say 1,000,000,000? And you would click "Market order"? Not happening. Not now, probably never on gox.

Well read my post more closely and then you'll notice i said that the market (eg mtgox) is not liquid enough for this kind of purchase. Only a professional market with tons of liquidity would allow this kind of money to move in.

Frozenlock?

Kupsi

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9.9.2012: I predict that single digits... <- FAIL

Quote from: barbs on September 03, 2013, 07:39:20 AM

Edit: Please explain how on the jump from 130-140+ I was able to buy in fully with my gbp holdings @ 85£ (131$) while the USD market was already at 136$ for a few mins?

With todays exchange rate a sell order at 85£ would show up at 132.0985 * 1,025 = 135.4009625 in the USD market.

Gox could have used an exchange rate so the order showed up above 136 USD.

ardana123

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Quote from: crazy_rabbit on September 03, 2013, 07:49:20 AM

Quote from: ardana123 on September 03, 2013, 07:05:20 AM

I personally think some big money is waiting in the shadows. Imagine if a couple billion moved in right now. Popularity would skyrocket, everyone would go all-in (because the initial billionaire pushed the price up to extreme highs already), pushing the price up even further, earning the billionaire who invested his money a huge ROI? Why wouldn't they do this? Prolly because the market is not liquid enough for this kind of money. Maybe the bitcoin ETF from the winklevii will allow this kind of money to move in.

Who would you even SEND a billion dollars to if you wanted to buy that much bitcoin? Gox? You'd log into your gox account and it would say 1,000,000,000? And you would click "Market order"? Not happening. Not now, probably never on gox.

Well read my post more closely and then you'll notice i said that the market (eg mtgox) is not liquid enough for this kind of purchase. Only a professional market with tons of liquidity would allow this kind of money to move in.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: ardana123 on September 03, 2013, 07:05:20 AM

I personally think some big money is waiting in the shadows. Imagine if a couple billion moved in right now. Popularity would skyrocket, everyone would go all-in (because the initial billionaire pushed the price up to extreme highs already), pushing the price up even further, earning the billionaire who invested his money a huge ROI? Why wouldn't they do this? Prolly because the market is not liquid enough for this kind of money. Maybe the bitcoin ETF from the winklevii will allow this kind of money to move in.

Who would you even SEND a billion dollars to if you wanted to buy that much bitcoin? Gox? You'd log into your gox account and it would say 1,000,000,000? And you would click "Market order"? Not happening. Not now, probably never on gox.

strawbs

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Quote from: barbs on September 03, 2013, 07:39:20 AM

Quote from: Kupsi on September 03, 2013, 07:38:19 AM

It works like this.

In my example 1 EURO = 1.50 USD and Mt.Gox adds a 2.5% exchange fee between currenies.

I place a ask order @ 12.00 USD. This order will also show up at 8.2 EURO. (12 / 1.5 * 1.025)
I place a bid order @ 11.50 USD. This order will also show up at 7.475 EURO. (11.5 / 1.5 * 0.975)

When most orders are placed in USD, it will give a bigger spread at the EURO market because of the 2.5% exchange fee.

If I then place a ask order @ 8.40 EURO, it will show up at 12.915 USD. (8.40 * 1.5 * 1.025)

It's the same orders and the same actors on all Gox markets.

I'm sorry that's just not true they're different markets, you're thinking about funding I think

Edit: Please explain how on the jump from 130-140+ I was able to buy in fully with my gbp holdings @ 85£ (131$) while the USD market was already at 136$ for a few mins?

The front page of the Mt.Gox website states that it is "the only multi-currency Bitcoin trading platform where you can trade with the entire world in your local currency."

Unless they're deceiving us Shocked

Kupsi

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9.9.2012: I predict that single digits... <- FAIL

Quote from: barbs on September 03, 2013, 07:39:20 AM

Quote from: Kupsi on September 03, 2013, 07:38:19 AM

It works like this.

In my example 1 EURO = 1.50 USD and Mt.Gox adds a 2.5% exchange fee between currenies.

I place a ask order @ 12.00 USD. This order will also show up at 8.2 EURO. (12 / 1.5 * 1.025)
I place a bid order @ 11.50 USD. This order will also show up at 7.475 EURO. (11.5 / 1.5 * 0.975)

When most orders are placed in USD, it will give a bigger spread at the EURO market because of the 2.5% exchange fee.

If I then place a ask order @ 8.40 EURO, it will show up at 12.915 USD. (8.40 * 1.5 * 1.025)

It's the same orders and the same actors on all Gox markets.

I'm sorry that's just not true they're different markets, you're thinking about funding I think

No, you are wrong.

barbs

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Quote from: Kupsi on September 03, 2013, 07:38:19 AM

It works like this.

In my example 1 EURO = 1.50 USD and Mt.Gox adds a 2.5% exchange fee between currenies.

I place a ask order @ 12.00 USD. This order will also show up at 8.2 EURO. (12 / 1.5 * 1.025)
I place a bid order @ 11.50 USD. This order will also show up at 7.475 EURO. (11.5 / 1.5 * 0.975)

When most orders are placed in USD, it will give a bigger spread at the EURO market because of the 2.5% exchange fee.

If I then place a ask order @ 8.40 EURO, it will show up at 12.915 USD. (8.40 * 1.5 * 1.025)

It's the same orders and the same actors on all Gox markets.

I'm sorry that's just not true they're different markets, you're thinking about funding I think

Edit: Please explain how on the jump from 130-140+ I was able to buy in fully with my gbp holdings @ 85£ (131$) while the USD market was already at 136$ for a few mins?

ardana123

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Well i can imagine people having huge losses (or wins, but rather the former i think) using these bot strategies. After all, nobody knows what's going to happen next. All you can do is bet. Yes there are some indicators but markets love to disappoint.

Kupsi

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9.9.2012: I predict that single digits... <- FAIL

It works like this.

In my example 1 EURO = 1.50 USD and Mt.Gox adds a 2.5% exchange fee between currenies.

I place a ask order @ 12.00 USD. This order will also show up at 8.2 EURO. (12 / 1.5 * 1.025)
I place a bid order @ 11.50 USD. This order will also show up at 7.475 EURO. (11.5 / 1.5 * 0.975)

When most orders are placed in USD, it will give a bigger spread at the EURO market because of the 2.5% exchange fee.

If I then place a ask order @ 8.40 EURO, it will show up at 12.915 USD. (8.40 * 1.5 * 1.025)

It's the same orders and the same actors on all Gox markets.

barbs

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Quote from: Kupsi on September 03, 2013, 07:28:34 AM

Quote from: ardana123 on September 03, 2013, 07:25:58 AM

Interesting, at exactly the same time that 1262 btc buy was initiated on the USD market, an 883 btc buy was triggered on the euro market. Maybe someone had a bot configured the moment someone buys hard on the USD market?

It's the same market.

It's not the same market.

And yes, there are bots on EUR and GBP markets that follow strictly fast movements of USD markets because volume is so low on those they would always be behind on price otherwise.

ardana123

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Yes, they have more or less the same price, but they're still two different markets with different actors. It just struck me as interesting that those 2 buys were simultaneous.

Kupsi

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9.9.2012: I predict that single digits... <- FAIL

Quote from: ardana123 on September 03, 2013, 07:25:58 AM

Interesting, at exactly the same time that 1262 btc buy was initiated on the USD market, an 883 btc buy was triggered on the euro market. Maybe someone had a bot configured the moment someone buys hard on the USD market?

It's the same market.

ardana123

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Interesting, at exactly the same time that 1262 btc buy was initiated on the USD market, an 883 btc buy was triggered on the euro market. Maybe someone had a bot configured the moment someone buys hard on the USD market?

Cablez

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I owe my soul to the Bitcoin code...

Hello 148!! Shocked

Looks like some lag too.

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