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It's definitely not the lack of trading that's causing this. It's funny that you would even think that haha.
by RexetBlell 9y ago
It's definitely not the lack of trading that's causing this. It's funny that you would even think that haha.
- ThomPete 9y agoWhy is it funny? Is there some obvious explanation for this I am missing? Seen it a couple of times now.
- RexetBlell 9y agoIt's funny because the trading volume of Bitcoin is huge - about 250 million dollars worth of Bitcoin is bought and sold per hour around the world, 24/7. My guess is that the reason we see the horizontal lines is because let's say someone places a large sell order (say 1000 Bitcoins) at $11600. It takes a few minutes for the market to absorb it. The price stays flat until the entire order is bought.
- ThomPete 9y agoYes, which is why I was asking. I have had bitcoin since early on so I am aware of increased trading volume. Thanks for the explanation.