FTC price slump on btc-e
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I was following FTC on btc-e the last few days.
Usually there have been orders in the magnitude of thousands on both sides (bid and ask).
At the moment it looks like this: Asks from 0.00072 to 0.00077 are only a few coins each.
Does someone try to manipulate the price down?
[img]http://s1.directupload.net/images/130607/4oubwxyr.png[/img]
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- People can only buy for whatever someone is willing to sell.
- People can only sell for whatever someone is willing to pay.
- Can people be manipulated? < Ask any government :)
There is manipulation in all markets on the other hand 1) & 2) Always apply.
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Everyone who was selling saw the price jump and figured it’ll go higher so removed their sell orders.
Everyone whos buying now fears they’ve missed the boat so are putting in buy orders well below the ask.
Thats why there appears to be a gap between any serious buys and sells.