www.blockchained.comFor the first time, ask volume decreased during the crash, proving that the sells were pure panic. By this time after the november, 900-450 crashcorrection, ask volume had doubled and reached eventually triple the magnitude. In april it also skyrocketed to 4-5 times the initial value. Now it shows absolutely no will to even get back to pre-crash levels.
Honestly, I'm at a loss for how ask depth is a useful indicator here. We have
no idea how many coins are waiting in the wings, off the books. And we don't know the extent of arbitrage being done by Chinese traders.
It is useful because there is obviously a correlation between coins on and off the books, especially in similar situations, and the fact is there are no new coins for sale showing up whereas it has been typical of them to do so in a dramatic manner.
Is there an obvious correlation? Could you elaborate as to what that correlation is? What similar/typical situations are we talking about?
This seems very anecdotal. I'm not sure I see the evidence.
Doesn't ask depth dropping make sense when asks are pulled to market sell? Does it make sense to keep your limit orders at $1500 on the book if you are willing/planning to dump them lower?