Post
Topic
Board Speculation
Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
by
Traktion
on 17/08/2013, 10:13:42 UTC
This is hilarious. Look at the book.

We don't need an 11k whale buy and 2k wall (like what took us from 94 to triple digits). Half that will do.

We're primed for a major surge up. The whale buyers have been quiet for a couple of days. They have very strong motivation to put the push on soon.

While a 6k injection of fiat would be sufficient, a 10k buy and a 3k bidwall (same outlay as the move from 94) would really smarten up the market and secure previous acquisitions for those who pushed us past 88, 95, 100, 110, etc.

Yee-haw, pass the popcorn.

Look at the books elsewhere and the picture is completely different.

Bitstamp is pretty even, with the asks having the edge... at $10/btc cheaper.

MtGox has issues and people want to get their fiat out of there. Whether they just buy and hold BTC or sell them elsewhere (such as Bitstamp) is debatable, but there is an unusually large demand for coins, well above the rate offered elsewhere.

In short, I'd be careful what you read into MtGox's price/order book. There is more than a whiff of panic there, IMO.