Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Doesn't look like 300 will hold on stamp
So before I go to sleep.
What does everyone think is the motivation for this guy sticking 27000 bitcoins in a big ask wall?
Is he trying to stifle any move upwards (otc sale perhaps?) or encourage panic selling into bid walls that belong to him further down so he can accumulate coins?
Or is this a bearish guy who simply wants to sell his coins. 27k seems ludicrously excessive and a terrible way of going about selling.
Theories?
I guess he/they simple wants sell. Maybe speculated for a double bottom and failed. Now he wants to take the ~9,000,000 USD leave the game. I think: it's an offer, not bearish, not bullish, a simple offer.
It's bearish only in the sense that it invalidates all the "big players are paying premium prices, buying OTC to avoid slippage."
Only if it sells..
Actually, just the opposite. The wall being bought would mean that big players do want to buy large quantities without slippage.
Seriously. I´m sure all of the big players that are interested in buying huge chunks have 10 Mio+ laying around on Bitstamp (and on every other exchange to be sure) sitting in front of their computer24/7, just in case someone puts up a 30k BTC wall... And it´s weekend btw.
That wall has been around for a few hours on a Sunday. we´ll see how much longer it stays.
You trade large amounts without your cell ringing when the price hits your mark?
And you think it's some minnow risking 27k coin on a Sunday?
ehh, i was sarcastic about the part that people have millions of USD on every exchange just in case a opportunity arises to buy huge sum of coins without slippage.
Yes, sure. But there was NO volume buying into the wall. This would have to mean that the big guys have NO fiat on exchanges. If that's the case, why?
Could be that it is because big guys love money and bitcoin exchanges this year(and before) havent´t been proven to be very reliable??
Small fishes are too scared too buy in a wall that big(especially after the last months that weren´t too promising about the start of an upcmoing bull trend(e.g. paypal trap), but would probably follow when the first 40-50% have been munched.