Ninjastic
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Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
noobtrader
on 01/03/2015, 08:48:22 UTC
Quote from: rolling on March 01, 2015, 08:43:37 AM
Quote from: octaft on March 01, 2015, 08:41:01 AM
Quote from: rolling on March 01, 2015, 08:32:25 AM
There are so many scenarios where entirely more than $10 million enters the market overnight.

While nothing is a certainty in this world, I'd say the odds of someone dumping 10 million onto an exchange and slamming market buy with every last dime of it are slim to none. If someone had $10 million they wanted to put into bitcoin, they would probably be bidding in the upcoming auction, or buying off-exchange.

...and when they lose the auction, that is exactly what they will do. Maybe not a market order. But certainly a lot of buying pressure after the auction. There will be days in the near future where $10 million per day will be a drop in the bucket. Feel free to save this post and recirculate in the coming months.