/biz/ - Business & Finance

>>17311113

>>17311113
If you're unsure, you might want to do some proper reading before losing your money. No joke. You'll get fucked it you don't understand how general trading goes, let alone trading of something so volatile like crypto.

>>17311113

weighted averages based on the volumes of exchanges

>>17311113
kek

>>17311113
>"Hey anon, I'm selling X for $10, would you like to buy it?"
>"No I don't think it's worth that much, I'll bid $9"
Now we have a spread. Bid is $9, ask is $10. This is how orderbooks work. The market sets the price.

>>17311113
>I've been in crypto for 3 months and I just realized I don't know how the price changes.
>I know people buying make number go up, sell offs make number go down...but what determines the exact numbers?
this question is the most complicated question.

what do you hold?
who do you watch/listen to on youtube etc.

pic related.

>>17311281

So, hypothetically, could not a million people set buy orders for Bitcoin at $1 and drive the price down?

>>17311396
damn he wasnt pretending

>>17311396
Yes but no one would sell and they have already

>>17311396
Could people set bids for $1? Sure. Would that effect the price? No.
There is still a full orderbook of people with bids between ~$9600 and $1 that will all be filled before you if someone sells into the bids.

>>17311302

I'm not talking about market factors anon.
I'm talking about the numbers on the exchanges.
Where do they come from? How do they all line up?

>>17311419
They are asks and bids from speculators. Those numbers don't come from nowhere, they are offers to buy and sell.

>>17311418

I see. so the orders have to be filled to affect price, makes sense.

Do the exchanges talk to each other?

>>17311419
Are you just being stupid? You know its digital right?

The price goes up when the exchanges change the price. It ain't supply and demand, this is a ponzi and the leaders of the ponzi just open their settings and manually type BTC price as $XXXX whatever the fuck they want.

>>17311396
no because no one who have bitcoin would want to sell them for $1, so there won't be any sell order at $1.
However, if bitcoin is 10k, and a million of people set buy orders at 9.9k but no one sets a buy order at 10k, a guy that absolutely needs to sell bitcoin now might accept to sell it at 9.9k, therefore making the price going from 10k to 9.9k

>>17311419
>I'm not talking about market factors anon.
>I'm talking about the numbers on the exchanges.
>Where do they come from? How do they all line up?
it roughly works like this

>>17311461
Who exactly is setting and filling buy orders? Can anyone do that? Do we have access to current buy orders?

>>17311443
No. If there is a difference in price between exchanges a trader who conducts arbitrage will balance it out.
ex.
>Exchange A has bids for $10,000
>Exchange B has asks for $9,000
>Trader X will buy from Exchange B for $9000, and sell it on Exchange A for $10,000, and he gets to keep the profit.
>>17311504
>Who exactly is setting and filling buy orders?
Investors, speculators, bots, etc. It's a permission-less market, anyone can buy/sell.

Coinbase types into their computer the price

>>17311130

>>17311504
Stop being a faggot anon and just buy LINK and some BTC and just HODL. Its not that fucking hard.

>>17311610
>these are the people who are now "oldfags" giving advice to zoomers and boomers

the price that matters is when you sell. you could have 2m LINK and the price is $1000 on coinbase, But if nobody wants to buy you will need to market dump the price to zero anon.

When bitcoin hit 20k and people sold and made bank, who were the rubes buying at that price? What if you invest in a coin and it goes big and then you can't sell cuz no ones buying?

well people like mcafee were saying it was going to 1 million, it was all over tv and the radio. Ironically that was the sell signal. The huge media shit was to get liquidity from normies. Always sell when people who have never been interested start talking as they have been manipulated into buying the top

The price moves from TA and exchanges or whomever manipulating the price to get maximum profit from their users

>>17311113
Just sold everything.

>>17312538
That makes sense

>>17311113
you have to go back

As far as I know, it goes like this:

You have the buy orders and the sell orders, which you can place by doing a limit buy or limit sell. If you market buy you're going to buy from the sell orders, starting at the lowest-priced ones and moving up until you've bought the amount you wanted. The opposite is true when you market sell.

The listed price of an asset is between the lowest-priced sell order and the highest-priced buy order. I'm not sure exactly how they choose the exact listing price.

check this btc whale joe007 on twitter, you can see he got loads of twitter idiots sucked in recently by revealing he is a huge whale. And he is trying to get them all to sell their alts and BTC on this dip right now. Funny to watch

Sold spce at 35 usd, 600 usd profit from friday bought at 28ish

>>17311443
Learn what an orderbook is. Go google it

>>17311113
>but what determines the exact numbers?
buddy, if any of us knew how this worked we would become millionaires in a single night.

>>17311113
>he didn't take runescape economics when he was 13