The NBT price on CCEDK once down to 0.6 USD , because the BTC-NBT trading bot malfunctioned and the owner decided to pull it off for a while .
Although the price at Bter was normal at that time , but the news travels fast .
NBT-BTC brought them huge volume these days , but now we can see the risk .....
How much volume was traded at the low price? Was it an actual panic or just a fat-finger?
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Don't know , they just pulled the buy wall , and next thing people know , price go down .
The volume is not the point , because this shows that BTC-NBT trading volume while looks attractive , but contains huge risks would break their 1USD promise some day .
You're right, for the sake of public perception, the volume is not the point. Volume only matters if you're trying to assess what actually happened.
If we want to assess the NuBits peg, we need to take into account how much people actually sold. The fact that the volume was very very low at the low price is actually very important information, since it means people understood what was going wrong and didn't panic-sell at 60 cents.
Don't forget this; read the chart at November 5, 2014: https://bter.com/trade/BITUSD_USD
BitUSD was once sold at a price of 0.61 USD. What?? Doesn't that mean the peg broke?? No, of course not, because less than $20 was transacted at that price.