Bitcoin Forum

Say all you want... but its up to one or a few people bringing the price up from where it was just some hours ago.

No way. It is just a bunch of noobs who bought in high 60's were panicking and dumping right in hands of old guard who were waiting with lowball orders. Nothing new here.

Classic tree shake.

weak hands -> strong hands

Nah, i saw the wall movement... the one who bought was more scared that those who sold...

He went putting walls all the way from $55, when he putted a 4kbtc bid wall at $64 and saw that sellers where still eager to sell, he just bought $250k at market price and brought it up to $69.

Thats not strong hands atitude...

Im sure now price will get stuck some time around here until some troll news makes a panic buy again.

How come you are so sure??? Where you the one that bought at market price to $69?????

It doesnt seem to stop the sells...

I have not made a single Bitcoin of Fiat/Bitcoin transaction/trade for quite a few months.

Its just the weekend..... things slow down a bit because the volume is less

Plus its just amateurs playing with the exchanges

You missed out all the fun.

Market movements like we have been watching since last night do stink! also buy orders have fallen from 8M USD to 4.5M during the last week which just can be buyers waiting for their paycheck but if the market magically recovers Monday morning and continues it's climb, it's a very stupid market manipulation move.

The number of eyes watching Bitcoin from all over the world now will trigger some press about the Bitcoin market being cornered and a bucket shop etc. making Bitcoin look like a pump and dump.

If such a story gets in the press with quotes from economists, it will be a fast death!

So if there is "a few" controlling everything, their lust for cheap coins puts the whole project at risk!

Will just set us back a few years.  But yes, it is not a healthy way to grow.

I think you have a nice conclusion with the wrong statements...

the manipulators want price to go up. This selloff was natural, many people sold small chunks, thats normal at this level. I mean... its time for many people to begin taking profits.

the manipulation was buying all the way up to $69 at market price, that was stupid manipulation and if this gets noticed by media, it will be a complete fail for everyone.

Well, I was actually making the counter statement, that if the market is rigged (or easily controlled by a few in periods) they know that they have to let things cool off for a period now neither clamping too much or driving the price anywhere as they must realize that the pro's will smell such a double major trend reversal and not just blindly start pumping again Monday.

Manipulators in Bitcoin have been more supporting than the opposite during Bitcoins history and  they take on a large responsibility for everyones good with their own money.

So my overall conclusion was that we won't see a rocket Monday as it will be a dead giveaway.

The accelerating descending rolling hills of last night was a textbook example of a Bull market, too obvious for my taste to conclude that we are going down now to say $20 but we need sideways for a few days and an increasing buy side to restore faith in my opinion.

Excuse me for asking, but who isn't an amateur in this market??

I am a bitcoinophile, but do not see a rocket on Monday. Only a stellar piece of news will take us back up in the short term.

You could be underestimating lag with which "good news" affect BTC price. It takes time for newcomers to research Bitcoin and to put themselves into position where they can actually buy it.

Well there are some professional traders who are active in the market (ie. people who trade for a living).

There are also some VC's, registered companies and hedge funds who trade.

AFAIK these people mostly trade during the week not at the weekends. You'll see things are more stable during the week for these reasons. These people are not likely to dump their entire holdings in 15 minutes, for example. They are more rational in their trading (ie. they have a trading plan).

I would say actually this is a two men band: one bringing the price down and the other bringing it up ;)

Yep they are a bad cop and good cop and they are trying to find Satoshi.

This.

For me, it took about a year from when I first heard about Bitcoin, to the first opportunity to buy it (opening of Mt.Gox) and another year to my first smaaall purchase and a third year to my second purchase and half-a-year (until now) before I am finally confident to invest serious money. Too bad the price has seen a 1000-fold increase during my 3,5 years of waiting... :P

Quick to hear, slow to act.

Now 100s of millions have suddenly heard about Bitcoin, and it may take 1, 2, 3 or more YEARS for them to act in a serious way.

Unless Bitcoin outright vanishes, I believe for sure we will see a 10-fold increase in price in 2013-2015 based on what has already happened alone. All new developments just amplify the trend.

If the price remains in the 65-70 range by end of day Monday, it will pick up significantly starting Tuesday.

In what range does it need to be, you believe, it will not pick up on Tuesday?  ::)

Yes, a small minority of professional traders probably exists and and a small hedge fund or two (Malta, etc).....it looks as though the Malta fund is simply a vehicle aimed at institutional investors (who will simply buy and hold), other hedge funds, and, certainly more than anything, HNWIs. Likely that HNWIs will be the bulk of their investors as institutional money is largely much too conversation for direct BTC investment. So HNWIs (who may or may not be professionals) will be calling their own trades through the secondary market (via fund shares). This fund does not look to be discretionary.....so the fund itself is only buying/selling based on client interest in their fund, not based on any sort of strategy.

But, yeah....my point is that 95%+ of investors/traders in this market are not professionals. And does a professional BTC trader even exist? :)

What a wise man with a wise thinking!
I will hold my btc for few years for you, just for you.

Nah, when I finally act, I do it and leave no prisoners. And I give you the opportunity to prove your worth in the process. How about this:


$50k, 100k, works for me, ok?

conservative.....hmmmm.

I wonder if all that silliness is a bullish or bear sign?  What do you think?

Well this is my opinion having watched the market closely for the past few weeks.

Yes these traders do exist  , because I have seen them active and posting on these forums , I have read news articles about them (eg. http://reut.rs/H5N04G (http://reut.rs/H5N04G)). IMO they are mostly on the buy side. I say this in part because the pattern of buying is very clever , whilst the selling is very stupid. Having spent some time watching the order book, it seems the people buying are mostly buying slow - in small chunks regularly over a number of days. The people selling are selling in large chunks, quickly all at once.

Thats one of the reasons Im bullish about bitcoin right now. My opinion is the clever people, the pro's, with the big money, are on the buy side. The amateurs panicking about the price are the ones selling.

Also please note, when I last checked there were nearly 350,000 accounts on MtGox. The market is large now, for that reason alone there are bound to be at least a few pros out there.

Disclaimer: this is my opinion only, I am not a professional, please do not shoot me and also please do your own analysis first before trading!

I've read that article previously and it has nothing to do with 'pro's with the big money'. Those traders are not using their firms $$ to trade BTC, they are using their own risk capital. Those traders make much riskier and smaller trades than they would ever do with their firms $$ (plus, they likely can't hold securities positions overnight, much less in BTC). They are less prone to buy at these higher levels (they typically look for the quick 10 bagger). Most Wall Street professional traders could never be true believers in BTC and one would have to be a true blue believer to hope for a quick 10 bagger when entering at current levels (they have their 10 bagger currently, as per date of article).

I do not dispute the spirit of what you are saying; you probably have a better handle on the current trades than I do. Just because people are throwing around 'hedge funds', 'VC', etc, it doesn't necessarily mean these groups are moving directly into BTC. If anything, they want to fund start-ups and dabble, for the most part, on MtGox. Perhaps they will move into this in a more meaningful way soon, who knows. There is nowhere near the liquidity in this market for large money managers to get involved at this point......

Yes, I could be.....

The more mainstream Bitcoin gets, less time will pass before a potential buyer makes his first purchase.
It's the sheep follow sheep effect. How many Iphone buyers consider specs and Androids before deciding to buy?

http://www.youtube.com/watch?v=fW8amMCVAJQ

This is what is happening with Bitcoin. We are at "the first follower stage" here I bet.