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You can see the depth of the various exchange’s order books on bitcoincharts.com. For example, if you sold 4000 BTC on Bitstamp right now, the price would fall
by runeks 9y ago
You can see the depth of the various exchange’s order books on bitcoincharts.com. For example, if you sold 4000 BTC on Bitstamp right now, the price would fall from ~$3250 to $2300, and you would earn ~$11m: https://bitcoincharts.com/markets/bitstampUSD_depth.html https://bitcoincharts.com/markets/bitstampUSD_depth.html
Selling ten times that (40.000 BTC) would only net you ~$26.5m so, to answer your question: selling just $10m worth of BTC on a single exchange will move the price significantly. For $1m worth of BTC you’d move the price very little.
- cesarb 9y agoThat's assuming none of the orders will be pulled before they're filled.
- omgtehlion 9y agoThat's what 'MARKET' orders are for. Don't be greedy and allow for some slippage, otherwise you would give yourself out and loose even more. Anyway, if you have enough money, why not hire someone to write you a multi-exchange execution tool, and save some more money.
- runeks 9y agoRight. The future is uncertain. It’s impossible to know whether there will be any orders at all in the order book a second from now. But as soon as you place your sell order, a proper order book locks all other orders such that they can’t be pulled until after your sell order has executed.