I can see dry paint.
Does anyone have any theory as to why we've stopped at 112-114?
Does anyone have any theory as to why we've stopped at 112-114?
Look at the ask bids 114-120. Bouncing between 14k-20k. Way too many coins for a $6 span. Unless someone drops 2M we're not going up for the time being.
I guess you're probably right, but 6k isn't that much. The bid sum has just touched the ask sum, might be crossing any time now. We should be at least at 117-118.
The volume is almost half of what it was during the weekend though.
Who is in a rush to drop half a million on bitcoins? Let them coin dump and fill your bids you end up with more coins. A lot of those coins were bought 98-110 and tossed up from 110-120. No one is in a rush to pay them off. No one wants to hold so its slow going up ATM. If I'm looking to buy in right now I'm waiting for a drop. Based on the last few weeks those come around a fair bit.
This is awesome IMHO. Rather than market buys, which contribute to volatility, new money is placing bids. Rather than just wanting to hold long term, or dump and lose potential profits through slippage, holders are placing asks. I hope this trend continues, having a very liquid market with limited slippage is the best thing we could hope for.