Post
Topic
Board Bitcoin Discussion
Re: Bitcoin is up $20K since our experiment!: Exploring BTC Valuation
by
pooya87
on 16/11/2024, 05:29:36 UTC
That is not how exchanges and order books work.

If price currently is for example $100k, you can place a sell order at a higher price like $500k and it will remain an open unfilled order; but you cannot place a buy order at that price. If you try, the exchange will execute your order at the current market price which in our example was $100k which means the only thing your experiment can show is an interest to "sell" bitcoin at $500 and an interest to "buy" bitcoin at $100k.

Such moves, specially at such miniscule volumes have absolutely no effects on the price and the market dynamics.