I hope this is still around Monday. I would like to buy a small piece of the lot for sale via my local ATM. As of Sunday evening Austin time, there is still 19878 BTC for sale at $300.00 on Bitstamp.
It won't last much longer. The trader started by putting 30k Bitcoin in orders and it's now down to 19k. You can follow along by watching the red line in this chart:
I feel like I must be missing something. Listing such a massive block of bitcoin for sale ($9 million!) shouldn't cause the price to flatline, it should be dropping as more and more sellers realize the price is effectively capped at 300 for the time being.
I can't figure out why more people aren't rushing in to sell in front of the 30k shares. Conversely, why are people buying now when their would seem to be availability at 300 later if the price doesn't actually drop?
This sort of behavior makes it seem like the market isn't nearly as liquid as conventional exchanges.
Is it possible to see which wallet have recently make a 30k+ BTC transfer to Bitstamp?
May help guess how many BTC this trader actually have in stock to sell.
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[ 3.3 ms ] story [ 43.2 ms ] threadhttps://bitcoinity.org/markets/bitstamp/USD
I can't figure out why more people aren't rushing in to sell in front of the 30k shares. Conversely, why are people buying now when their would seem to be availability at 300 later if the price doesn't actually drop?
This sort of behavior makes it seem like the market isn't nearly as liquid as conventional exchanges.
It'll be neat to see if another whale comes along and cleans it out at the fixed price.
https://alloscomp.com/bitcoin/wall.html