Topic: WTF (Read 4066 times)
Even if you're bearish, I don't know why you would sell immediately after a run like that.
I agree, that's weird. Sometimes when there's a big buy, a bot will do an equally big sell immediately after. I don't understand that strategy.
This time the sell was relatively puny (~2600 btc sold after ~20k btc bought), and it was minutes afterward, so probably not a bot.
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I guess it may be "operator" error. He noticed large buy up to 5.70 and wanted to sell into it. Not realizing the spread is huge ....
*Eureka*. Just realized that these are bitcoinica stop or trailing stop orders placed to sell at a higher price. Stop orders become market orders when a target price is breached, so they just get dumped onto the thin bid depth after the upward spike.
These sellers should use limit orders instead, or (if bitcoinica offered them) stop-limit orders.
Shh... its a secret.
Even if you're bearish, I don't know why you would sell immediately after a run like that.
I agree, that's weird. Sometimes when there's a big buy, a bot will do an equally big sell immediately after. I don't understand that strategy.
This time the sell was relatively puny (~2600 btc sold after ~20k btc bought), and it was minutes afterward, so probably not a bot.
[12:43]
[12:45]
[12:46]
[12:49]
[12:51]
[12:52]
I guess it may be "operator" error. He noticed large buy up to 5.70 and wanted to sell into it. Not realizing the spread is huge ....
*Eureka*. Just realized that these are bitcoinica stop or trailing stop orders placed to sell at a higher price. Stop orders become market orders when a target price is breached, so they just get dumped onto the thin bid depth after the upward spike.
These sellers should use limit orders instead, or (if bitcoinica offered them) stop-limit orders.
gentlemen on thUSD the party seams to be over, the bear killed the music band and 1btc is 5,349
i can sell you cheap one just for $5,000.00 due to volatility offer expires in 30minutes
gentlemen on thUSD the party seams to be over, the bear killed the music band and 1btc is 5,349
i can sell you cheap one just for $5,000.00 due to volatility offer expires in 30minutes
Anyone pondered the whole 'Iran's currency dropping 30% in value in a week' as a possible driving force for this spike? Iran only allows citizens to convert $2000USD in foreign currency at standard rate and people are hustling for a store of value/conduit to a different store of value.
But how do you convert Iranian Rial to Bitcoin without going through USD/EUR/GBP... first?
Is there really no way to get rial into the system? International wire transfers? Why are there so many currencies listed on bitcoinwatch if no one accepts their deposit? Their limit is in converting to cash.
Anyone pondered the whole 'Iran's currency dropping 30% in value in a week' as a possible driving force for this spike? Iran only allows citizens to convert $2000USD in foreign currency at standard rate and people are hustling for a store of value/conduit to a different store of value.
But how do you convert Iranian Rial to Bitcoin without going through USD/EUR/GBP... first?
Anyone pondered the whole 'Iran's currency dropping 30% in value in a week' as a possible driving force for this spike? Iran only allows citizens to convert $2000USD in foreign currency at standard rate and people are hustling for a store of value/conduit to a different store of value.
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I guess it may be "operator" error. He noticed large buy up to 5.70 and wanted to sell into it. Not realizing the spread is huge ....
It's more likely someone with a stupendously large bitcoinica position trying to guard it by attempting to take advantage of Zhoutong's new algorithm and it's new "no spike liquidation" feature so they can push things down and in that way avoid being Zhoutonged at least in the short term
Even if you're bearish, I don't know why you would sell immediately after a run like that.
I agree, that's weird. Sometimes when there's a big buy, a bot will do an equally big sell immediately after. I don't understand that strategy.
This time the sell was relatively puny (~2600 btc sold after ~20k btc bought), and it was minutes afterward, so probably not a bot.
[12:43]
[12:45]
[12:46]
[12:49]
[12:51]
[12:52]
Damn, where to look at asks&bids? Everything is down now.
BitcoinCharts are frozen few hours ago. MtGoxLive does not show its page at all. Clark's page does not show trades.
That stupid MtGox own graph does not show latest values neither.
So much to watch now .. but where?
This is what I'm using, it's pretty simple but it's something. http://www.livebitcointicker.com/?exch=mtgox&rr=15&pl=90 BitcoinCharts are frozen few hours ago. MtGoxLive does not show its page at all. Clark's page does not show trades.
That stupid MtGox own graph does not show latest values neither.
So much to watch now .. but where?
Damn, where to look at asks&bids? Everything is down now.
BitcoinCharts are frozen few hours ago. MtGoxLive does not show its page at all. Clark's page does not show trades.
That stupid MtGox own graph does not show latest values neither.
So much to watch now .. but where?
BitcoinCharts are frozen few hours ago. MtGoxLive does not show its page at all. Clark's page does not show trades.
That stupid MtGox own graph does not show latest values neither.
So much to watch now .. but where?
I'd be willing to bet that this recent wild swing is the doings of bitcoinica replenishing reserves...
... any takers? 2 BTC bet?
... any takers? 2 BTC bet?
from where? but point well taken. with a surging mkt and a Bullseye event, no one trades as everyone goes long. so how would they make money on fees?
they'd need to access more USD's or fiat from somewhere to let the longs buy as well as the shorts.
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