Bitcoin Forum

To no one's surprise the big dump by Craig Wright has been postponed. It will come soon but we may stay at current levels a bit longer.
Notice how there's an enormous pressure keeping it under $500? There is theoretical room to temporarily go up but there's a lot of pressure to keep it down. What do you guys think is going on here?

It was a big dump but recently today the bitcoin price is keeping increasing slighly, only today the price is +~$7 which is not bad after the long dump (few days). It's pretty hard to think now that bitcoin will break $500, but it has potential to reach that target in the upcoming weeks.

I think it will end just like the last Wright's extraordinary claim of the last December: a few hours of downward retracement.

Indeed, BTC is again over $450, just where it was when it started.
The road to 500 could be less difficult than we think.

Is Satoshi supposed to dump his bitcoin or something?  I haven't heard but I haven't read every thread here either.

But the halving, the halving!!!

No, i don;t think he will dump his bitcoin, he has no reason to do this especially in this situation before the halving, but i have read that he will move his funds from the Satoshi wallet to prove that he is the real one.

With news about Craig, there is a pressure against upward price increase. If Craig is the real Satoshi, the tax office may go after him and he might have to move and sell some coins to pay the taxes... I heard he was also a user of Mt. Gox!

i knew that Craig Wright's scandal would be used by one of you two as another FUD spreading technique. he has not proven he is satoshi yet, and he is just wasting time. moving funds doesn't take days to do, you go home to your secure wallet and send them. signing a message from bitcoin address doesn't take a long complicated method like the blog post, you open up a wallet and sign it like what litecoin dev did with no bs.

no it's a false rumor, because first, he is not satoshi, and second it would be stupid to dump now, when there was better chance to dump at 1200, aka the last ath

you should read the topic body text instead of only the topic subject! there are a couple of things that i will try to summarize here for the lazies:
1) he is not satoshi until he signs a clear message with the current date and clears his identity.
2) he (who claims to be satoshi) said i am going to move some coins from early blocks. which is not a dump and it is not proof of his identity unless it is from genesis block.

You must think further.... Whales like to make money and they will surely do so if the time is right. But at this point there is indeed a high pressure on the price caused by a group of whales that are not interested in seeing the price go up.

Reasons could be :

- Accumulation.
- Accumulation.
- Accumulation.
- Accumulation.
- Accumulation.

That whole Craig Wright thing is a scam. He ain't satoshi, he is just a wannabe and now he is famous. He succeeded thanks to people.

As for the price... It will pass 500$ sooner or later. More like later i think.

He wouldn't have received so much fame, thanks to gullible people believing that Craig is indeed Satoshi.
Well, I am open-minded if it comes to that argument as long as there are valid points and proofs presented.
Price will definitely pass $500 but maybe in June or July. Not now. Not yet.

there won't be a dump, because if he was satoshi and if he had access to the coins; then he would have sold at the top not at less than half price after a couple of years.
and the current pressure around $500 is only the whales accumulating for a second phase.

Most difficult phase was to break the 440 $ .It is accumulation period so better avail this chance before the breakout of uptrend.We will see next stop at around 600 $ once this starts moving in couple of weeks.

A lot people use these prices to buy themselves a certain amount of coins each month. So yes, I also think people are in accumulation mode right now. There is no need to wait for the price to come down. Better buy while the price is still below $500.

The second reason is no reason at all. There are a lot of people who didn't dump at 1200, the ATH, because they expected bitcoin to rise further.

As my speculation we will see the $500 break i think end of june.. more people will come to buy more bitcoin.. and i think it will increase more..
for now we cant see that the price will break $500.. because block halving is too far.. so people or traders are thiking that they are waiting for dump price of bitcoin before they start buy bitcoin..

No craig don't have that much btc to make big dump, he is just showing some stunt to desperately make bitcoin price down before halving so that he can accumulate like many whales are doing right now. I don't believe he is real satoshi and hold all those 1 million coin with him.

It might be due to the accumulation that happened due to the expectation on halving. Not because of the Craig or some people's accumulation of huge volume. When you consider the entire user community, everyone were holding for a rise which reduces the circulation. This seems to be the reason for delay to touch $500.

you misunderstood, it would be stupid to dump now when he didn't dump at 1200, so if your logic is true, then he should wait for a better price like he waited when we were at 1200, more now than before, since we are only at 4xx

I know this third time it will happen.. We've seen it happening it happening almost 2 times and again and again the bears won. Now the bulls are taking it steadily and it will rise to over 500 again.

The price could rise to $500 in about two months or just before the halving. It is $50 rise in two months.

There will be a time that it will happen and that is because Bitcoin was already stable for a long time and that is bad for the people with the halving so that must change.
We all want to of course make some profit in a fast time so we can at least sell it with a little bit profit.

It will happen just before the halving as you also said. There are still more than 2 months to go before the block halving takes place. In the meanwhile not much will happen. July is the month the real fireworks will start.

Preparing for halving probably, steady rise until the end of the year. When we hit double from this price today don't be surprised.
But no matter how much price rise I hope we will stay there and stabilize somewhere over the 700.

sure but i dont expect it big at least not in that moment i expect huge jumps in price after month or two after halving high hope for that period

the higher the price is, the weaker the support gets. for example if you place a buy order of 1000btc at $450 then it can be seen as decent support. but that same $450,000 that gets you 1000btc at todays prices will be completely different when the price is at $900. your $450,000 will then only counts as 500btc buy support when you place it at $900. support will only get weaker throughout the years as the price is climbing.

Yes, this slow and steady increase gives much more confidence.
We will take time to get to $500, but we will get there.

I would like the bitcoin price to just rise 1% a week. During the week, the volatility should also be low.

1% a week would make people suspect that it is a giant ponzi scheme.  ;D
Intra-week volatility is fine as long as the long-term trend is up.

The thing is once it hits $500 I know a lot would already cash out. Nonetheless, hitting $500 and probably staying at that level for a week or so would set the stage for a leap, probably right before the halving.

We are less than a month and half before the expected halving, and the recent trends clearly indicate 450 is the preferred price for traders, Chinese or Western. Why? Because the miners, especially the ones in China, see it as the sweet spot. They don't want huge increase in price because it invites unwanted competition. The Chinese mining cartel intends to control the market, their first order of business is to drive out the small, home-based miners around the world. Those of you who bought S7 from Bitmain have shot themselves in their foot already. At least I do NOT mine on their Antpool, if you do, you are shooting yourself a second time.

make sense. no wonder it didn't break $500 even after all these hype lol.
so the price increase may just happen once small miners died out of starvation.  ;D

No, you are lacking in understanding, this isn't funny or a laughing matter. We didn't break 500 at all, where do you see 500? Bfx currently shows 453, NOT 500.

Once small miners are wiped out, possibly after the halving, the mining cartel in China will play with the price the way they see fit. That's what cartels do, just look at the history of OPEC.

For now i cant speculate that the price of bitcoin will touch to $500 but im sure after block halving we will see the changes the price will increase according to other traders outside.. just lets hope this coming june we will see changes of the price.. the price today still stable..

He basically tricked to get those signatures to make people believe hes satoshi lol.

The price isnt really based on this person, i think the price is unable to break because new money/old money as well been going to ETH where original orders for bitcoin should be at.

People go where theres profit, esp when they see a rise of value for an alt coin.

500 has been the price which we didn't reach 3 times now. Maybe before the halving it will break but that's not certain offcourse. I do hope it will happen but if the price stays where it is now I don't mind either. Stability is preferred over volatility.

As you can see now you see that the value is going to rise slowly so that is really nice for the currency itself but it is still hard to know what will happen with the Bitcoin and that is the problem.
But as we all know we know that the halving is coming towards to us and that can be perfect for us.

500 in this rise is so close current is on 478 and this target is now so close will it remain on it it will be hard think it is huge resistance on 500 so if broken then it might go high enough to stay above 500

Bitcoin price is increasing fast today, we have the 500 resistance near, but i think that important resistant prices are con cny (chinese divise), i think that today increasing was a china movement about its divise.

dont worry, by the end of next month or so we will have broken $500 for sure.

if not sooner

Absolutely, I'm close to certain we'll be into the 500's by this time next month.

We must be not negative and the most are hoping that the value will be higher soon in the future but it is still really hard to predict for what will happen and that is the problem.
But it will be nice if we can have some profit in the end of the year or something.

Btc @ $512.5 on Bitfinex.

/thread

The $500 was broken decisively. The price is trading around $540 at the moment. It is a big rise so far.

The bitcoin is almost $585 now. It is more than $150 higher than two weeks ago. It has risen too fast.

Yes ,i think it very unable to break right now.bitcoin continously rising and because of bitcoiners who is buying bitcoins to invest and hold it makes the price more higher. If they will sell it after halving we can think that it will down by $500 but it will not go down lower than that price.

After the halving, the price will be higher. Even if people sell the bitcoin, the price will not be below $500.

Price of bitcoin right now is really unable to break this value.. and i think more weeks and more days will come more price increase we will see until the price reach 590 to 600..

I am quite sure that $500 will not hold for long once the price start to tank heavily after the halving. It will go up again but it will cost some time. Building up the price cost many months while all that effort can be undone in a matter of a day, or even some hours.

If the price does not reach $700 before the halving, the price will not drop below $500. There will not be dump if there is no pump.

Pump and dump is bad for the bitcoin. I still remember the big pump in late 2013 and the two years of dump.

Small pump and dump is good for the bitcoin or other altcoin. It can attract media attention and make more people know the coin.