Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
tupelo
on 05/05/2014, 11:45:33 UTC
Looking at the order book on bitstamp, price should go higher in the short term (in the long term I am sure that by the end of the year, price will get to a level of at least 2.000 USD).

But coming back to today's situation: there are 5.327 BTC to be sold, and on the other side they are 6.231 BTC to be purchased. This basically means that at this moment the sell orders CAN NOT cover the buy orders within the same range, so price will have to increase.

The demand for BTC is 15% higher than the offer => price will increase in the short run.

You assume that both types of orders would meet at the same price, which is obviously not the case. Moreover orders in any orderbook are a very bad indicator because only a certain amount of them are actually the intended to be filled, the other get withdrawn as soon as the price comes too close.