this is the first time ever I see a 1,5k Wall on Huobi.
beginning to scare me.
it was 3k wall at all, which is now gone as it seems it was fake.
Looking at the order book on bitstamp, price should go higher in the short term (in the long term I am sure that by the end of the year, price will get to a level of at least 2.000 USD).
But coming back to today's situation: there are 5.327 BTC to be sold, and on the other side they are 6.231 BTC to be purchased. This basically means that at this moment the sell orders CAN NOT cover the buy orders within the same range, so price will have to increase.
The demand for BTC is 15% higher than the offer => price will increase in the short run.
This is part picture, order book is small part
Order book is showing the same range on both sides (the picture I was looking at went +/- 45 USD on both direction). So it means that compared to the current price, they are 5237 BTC available in the +45 USD range, while the demand in the same range is 6231 BTC.
there are asks and bids in further than +45 usd range. it is only small part of whole orderbook.
+ tupelo answer.
Todays news actually, funny that. If all Chinese exchanges are on the brink of closing as many in here believe, why are they being added to the foundation board?
because they need a substitute for gox...
