Post
Topic
Board Speculation
Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
by
SheHadMANHands
on 29/09/2013, 16:26:01 UTC
We now have a 16-17 USD diff between stamp and gox. It seems that the "1 BTC several times a minute"-arbitrageur has used all his steam for the time beeing. Awaiting more arbitrage as soon as fiat (deposits) have moved from gox to stamp.

This arbitrage, and more to other exchanges, should provide some damping to the dump/panic buy movements on gox. Maybe the next bubble (entrepreneurs having temporarily too much faith in bitcoins rapid world takeover) will be a tad more leant back.

I see no panic at Gox.  It has 4x the 24hr volume now, and buyers have "eaten" through ~ 6000 bitcoins at a $145 ask price in the last 24hrs alone.  There's been a lot of resistance more recently on the way up ($145/$146 levels, for example), but the buyers have continued to push through.

No one seems to be looking to sell at $142/$143 levels anymore, regardless of whether there's much on the order book.  You get a lot of slippage selling into the order book now... would be much better off just putting up a wall at $146 or something.