Bitcoin Forum

Hey double digit believers,

In case you haven't noticed, there's been a concerted effort lately to keep the price AT OR AS CLOSE TO $100 AS POSSIBLE.

Somebody (Or group of somebodies) wants BTCUSD to be $100 for a while.

This person is REALLY GOOD at what they are doing, and have been VERY successful.

So, please, the second price goes from $101 to $99, that does not give you the license to FUD around "OMG back to double digits, no media attention, low volume, public losing interest, we're fucked, get out while you can." 'Specially when it touches $100 again within 10 minutes of you posting.

Look at the price history the past couple weeks, and observe the "deep pockets at work." Price-fixing is easy with low volume. Now, look at price history the past couple months. Highs are getting lower but lows are getting higher. We're in a high/low wedge of epic proportions and pressure is building. What happens next? Well, ask yourself how much faith you have in fiat currencies.
What do the nuts say? Deflation of USD first, then hyperinflation due to CB response and ongoing market frailty. Assbackwardation, free fall, fixed prices, hey, Venezuela actually has a toilet paper shortage, did you know that? So hold on to your bitcoins. Unlike fiat, they do not have intrinsic value as toilet paper so you might want to hold onto some Fiat as well incase the local Kruger's runs out of Scotties Thuper-Thenthitive.  ::)

I'm all out.

You're all in?

Now why would I disclose my position? That would spoil the fun   :D

http://www.youtube.com/watch?v=QyAgWQqL-bE

I beliebe!

It it was also very stable for much longer.  However, this time we don't have any pirates trying to peg it.... or do we.

It's about triple digit believers now. The last believer (MtGox) has lost faith. :D

Proud member :)

Some of these threads will be great bumps.

I guess Justin Bieber (Beiber?) should join this club!

lol  ;D ;D ;D

As bullish as I am about bitcoin it is really hard to believe some benevolent market stabiliser is out there pulling puppet strings keeping the price at or about 100usd per.

It's also a dangerous thing to accept without strong evidence as it could lead to some bad decisions made further down the line.

My take is as long as we don't break new lows, we're still ok. Below $88, even a little, and we're fucked

Bottom feeders will set buys above this price but if one whale decides to cash out and it punches through the walls i see long term prices stabilising around 50-80

There's nothing benevolent about it. People want to unload millions of dollars of BTC to anyone who will buy it for as much as possible.

im single digits fan :)

If that were true then there would be no reason for the manipulator to buy back in to keep the price at 100. He would be better off selling incrementally into the market price without moving it in either direction

No, he would not.  This would show up in the charts and technical analysts would start to front run him.  It is better to trade around your target than trade all on one side.

No, we are not fucked. We are cool. The cheaper the coins are, the more you can buy.

Obviously you need a handful of fiat for that. I have it prepared, do you? ;)

Yes, this person is called the market.

FYI, 17 hours later, we have dropped to a low of 92.25 with virtually no bounce (certainly nowhere near 100). Awesome theory.

We are definitely in double digit territory now

You are an internet troll.

I bought my stack at $10. Have fun with your fiat

;D

So are there any market manipulators here on the forum?  I assume there are some with a nice amount of BTC.  Please do us a huge favor and tell us the reasoning behind the price stabilization?  I would think it would be in the best interest of anyone with large amounts of BTC to have the price rise at some point.  I get the fact that some that trade back and forth want the price to move one direction or the other to make gains, but seriously, I would think just buying in then having the price rise substantially would be a better way to make more.  Of course, I am no expert.

Your average entry price could be $5 (or $3!) instead of $10 if you had sold and re-bought cheaper. My first bitcoins were also bought at $10ish and while I'm 90% out ATM, if I'd bought back now I would have 50% more of what I had initially, which is a "win" in my book, because I play this game to be able to buy as many BTC I can with my limited fiat. What I mean is that nobody is "fucked", the market is just doing what is expected to be doing after a bubble inflation (going down), fighting the market and just hold forever is cool if you do not give a f*ck about the short&mid term price... But then you are not "fucked", who cares about breaking $88 if you look at the long term?,

If you are looking to actively increase your profits/BTC stash by trading the only sound strategy in this scenario (bear market, bubble deflation, etc.) is to sell and buy cheaper.

This thread is certainly looking ridiculous now.

Right OK I see where you're coming from.

First of all I was venturing a "what if" opinion...I am still unsure we will break below 88. If i knew that as a certainty...I would be selling my coins. I've got 20% of my stash primed for selling if I have some certainty we are in danger of breaching $88.We differ in that you think we're definitely headed there.

Of course, based on the premise that the price is going down..it would make sense to sell first and collect cheaper coins later.

My opinion is that, for now at least, it is not reasonably certain that we are at that point yet

If we do break below 88 though, we are fucked....meaning next support will be at $79, and possible $50 if we break through that. That fits my definition of fucked...of course you may hold a different opinion

Your opinion is noted.

They told me I was wrong to sell my Bitcoin at $162 and I'd better buy back quickly before I miss the train.

LOL  ::)

But dude, Cyprus China Turkey Argentina! :D