Quote from: magneto on June 02, 2019, 11:13:43 AM

Quote from: Onetogo on May 30, 2019, 03:21:48 PM

My prediction is Bitcoin will be quiet steady for today. I expect the price might fall down a bit, do not expect any drastic movement in price to go up, because there is quite an elastic supply for 2.5k bitcoins.

https://i.ibb.co/n0FYkCC/btc2-5k.png
https://i.ibb.co/Ks1JNHB/btc5k.png

With bitcoin trading, especially when you consider the fact that a lot of the speculative activity is completely arbitrary and random, and there are many external factors influencing price, I doubt that a single supply/demand graph says much at all.

Also, I don't think that basing it off one single exchange's order books means that this data will be accurate - each exchange has their differing amount of liquidity at a given point in time, and does not reflect the big picture.

By the way, is there any tangible reason as to why you included a demand curve shifted to the right 500 units, or is that just an arbitrary number that you came up with to illustrate a potential increase in demand?

Thank you. It's just an arbitrary curve, to give you an orientation what a random huge buying entry would cause to the market.