The Bitcoin Thread

Status
Not open for further replies.
Some jackass threw up a 2600BTC wall on Finex.

Biggest reason we didn't hit $4k already.

EDIT:

Let's see if the bulls can scare him off.
 
Last edited:
How does one read a depth chart like this: depth.PNG

The buy section has a more or less constant gradient, there are far more people wanting to buy at a low price.
The sell section has roughly 3 prominent walls and then a plateau.

If considered in a more static manner, i.e. the shape does not change, does the price go up or down ?
 
etienne_marais said:
How does one read a depth chart like this: View attachment 455020

The buy section has a more or less constant gradient, there are far more people wanting to buy at a low price.
The sell section has roughly 3 prominent walls and then a plateau.

If considered in a more static manner, i.e. the shape does not change, does the price go up or down ?
Click to expand...
Remember the underlaying value is not consistent. 2 orders @ 40k is the same as a single order @ 80k.
And if everyone is Hodling , sell orders will be limited.
 
^How is the volume scale - is that actual numbers or 10's or 100s or 1000s?
If it's actual numbers then I'd say that that scale is pretty much useless since the volume on the exchange you're on is so low... the market price is driven by much higher numbers - the majority of which are likely on other platforms.
 
etienne_marais said:
How does one read a depth chart like this: View attachment 455020

The buy section has a more or less constant gradient, there are far more people wanting to buy at a low price.
The sell section has roughly 3 prominent walls and then a plateau.

If considered in a more static manner, i.e. the shape does not change, does the price go up or down ?
Click to expand...

My 2c - a depth chart on an order book is only relevant in the immediate short term, i.e. if you're looking to optimize your buy/sell bid/offer in the next few minutes. In reality, if there are fundamentals driving the price one way or another bids/offers adjust almost immediately to match. I've seen (at least in cryptos) massive buy walls crumble downward in seconds as sellers adjust down and vice versa.
 
Sabre Wulf said:
^How is the volume scale - is that actual numbers or 10's or 100s or 1000s?
If it's actual numbers then I'd say that that scale is pretty much useless since the volume on the exchange you're on is so low... the market price is driven by much higher numbers - the majority of which are likely on other platforms.
Click to expand...

I think it is actual numbers, so I think 300 @ 40 000 means 300 bitcoins of buy orders at 40 000 and approximately R40 000. This is Luno b.t.w.
I don't understand a couple of things, like how can there be so much consistent activity in ZAR/BTC, even if this exchange is considered low volume then there seems to be a lot of dynamism, i.e. consistently new buy and sell orders even though in small orders.

I can imagine there are some overseas people interested in using ZAR for whatever reason to trade and there must be quite a few bots doing their thing, but even so I can't imagine it being so active (even if considered 'slow' in comparison to global exchanges).

Also, how does it stay more or less in sync with international trends ? Is this due to trading platforms where people compare USD/BTC and then make ZAR/BTC decisions ?
 
Last edited:
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X