Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

I've been pretty bullish lately but I do have one concern. The injection of fiat into bitstamp order books seems to have stopped. There isn't any more fiat on the books nows than there was in the past week in the 500 levels. The amount of selling (in btc) to reach 400 is exactly the same and the total amount of fiat on the books is actually LESS because all the bids in the 300s and 200s were removed. If I don't see another fiat injection in the next week, I am going to get really concerned.

A bull may be transformed into a bear?

Do you have to have a Bitstamp account to view this information?

I do NOT have an account, but I can view the bid and ask order books - but only back so far. Currently, with the price at $663, I can see between $530 and $796. I did NOT know that anyone could view beyond those order price points.

http://bitcoinity.org/markets/bitstamp/USD

Thanks a lot for that.

I guess personally the significance is NOT quite sinking in. I understand your point that it would be more difficult for bitcoin to go up in price if fiat is NOT coming into exchanges in order to allow for BTC purchases. I suppose that you are suggesting that you would like to see more fiat come in, in order to prices to go up? I do NOT really see much fluctuation in the chart in current times, However, in early November it appeared that a lot of dollars went into exchanges preceding the rise in BTC prices.

Quote from: adamstgBit on March 04, 2014, 10:56:50 PM

on high volume days stamps can trade over 100K coins
pretty sure >90% of depth is off the books
dont worry about it

Yeah whether the trades are on or off the books, I would imagine, unless there are considerable extremes, the numbers are NOT really going to affect predicting prices.