Bitcoin Forum

Did you see the price rise from $515 to $530 in the span of a couple of minutes just now? Seriously. Someone's trying to pump up the price before the Chinese wakes up and sees the price.

Massive buying going on in all the markets. Don't think it should last long.

Trap is set for unsuspecting Chinese buyers. Will they bite?

"Massive buying going on in all the markets. Don't think it should last long."

It was quiet the last few hours, btc price seemed stable at $515. Then, boom, 3-4 minutes before 6AM Beijing time, lots of small buy orders driving up the price to exactly $532. Now, it's quiet again. Someone laid a trap, it's a classic pump-and-dump.

yea, was considering this to be a good selling opportunity

still don't wanna take the risk though

for sure. who would buy in before the chinese wake up. thats craaaaazy talk!

anyway, didn't the chinese ban it? /trollface

You seem to know a lot about trading and manipulation. Poor chinese people, so naive.

Yep. Saw that...

Now it is a little bit lower... but I am expecting in couple of hours +$30 is possible.

okcoin is awake it say up
https://i.imgur.com/A0F7jeB.jpg

I think it's easier to get burned right now then it has been for a while. I can't handle the stress of begging for some huge red candle to get back in. No thanks

China pumps on largely fake volume.

Global USD exchanges react.

China dumps at top of market on global USD exchanges. Market fizzles out.

China dumps on largely fake volume.

Global USD exchanges react.

China buys at bottom of market on global USD exchanges.

Wash, rinse, repeat, except that after every cycle, increasing amounts of Bitcoin investment capital grows more and more jaded with Bitcoin until they completely lose interest and/or realise they are playing in hookey manipulated market where the odds are stacked heavily against them. Liquidity is drained from market, market shrinks. Bear trend progresses ever further as the pirates proceed to squeeze as much blood as they can out of the market.

As everybody know, fake volume moves the market. Obv!

Seriously, it does.

U think MtGox never moved the market and we know that all that volume was fake as they never had the BTC that they said they had for months, if not longer. Even when it became clear that Gox was insolvent in both USD and BTC and Gox was trading in $100 range, Bitstamp etc still reacted to moves on Gox. It doesn't have to make sense, it is just how the game works.

Huobi goes apeshit, within 3-4 minutes, bot traders on USD exchanges are following it's lead, which causes whole market to take notice and dive in, especially if the pump is well timed such  as on 1 day MACD crossoover, 'Blood Moon', etc.

The price went up because someone bought. Why does it always have to be more complicated than that. It wouldn't even be so bad if it wasn't for the lack of any shred of evidence.

people always need to find some explanations when they don t understand. They could actually invent anything just to feel better. As fake chinese volume, whereas it s well known that they massively invest in bitcoin since months...

There are many things in life for which evidence can never be provided and you just have to make your own mind up on what the nature of the general tendencies are:


Can you prove to me beyond all reasonable doubt that:

• The USofA is largely controlled by a cartel of banking families?
• That the EU/USA wasn't behind the recent riots in Ukraine which lead to overthrow of government?
• That Putin isn't behind the Russian seperatists in eastern Ukraine.
• That the Iraq war was really about oil and nothing to do with 'weapons of mass destruction', and that the intelligence agencies who delivered the dossier on Saddam's 'weapons' were lying, and the politicians knew it?
• That the missile defense bases being set up around Russia's border are intended towards threatening Russia, as opposed to defending the West from an 'Iranian Nuclear Threat'?

You can't prove any of the above as you have no evidence, yet I am sure that like me, you have a very different take on these matters from the official version of events, and for good reason.

Fucksake.....go and read some of zhangwheiu's post on Bitcoin in China. Since the Dec PBOC announcements, Bitcoin is very much a taboo matter for the 99%'ers.

You are retarded mat. And yes to some of those, incidentally. (not the ones where yes or no makes no sense obviously)

a fake wall just got eaten on huobi. Looking great.

Yeah yeah....

I would have gotten the same response if I had said that MtGox volume was all fake a few months ago, which by definition of not having the coins that they said they did, it was.

As for evidence, Bobby Lee has said that Huobi and OKCoin volume is largely faked, which is sometimes why there are such huge price moves as large buyers/sellers think there are a certain number of coin at a certain price range only for their market orders to execute and find that they were sorely mistaken as the walls vanish in their faces.

Bitcoin is finished in China, but that doesn't mean that there aren't well connected and/or opportunists who won't seek to exploit the situation to the max in order to enrich themselves whilst they still have the opportunity to do so. In fact I will go further than that and state if you don't think this market is getting pumped and dumped through the medium of some rather nefarious means, then you are a fucking idiot. It is that simple.

Anyone who traded on gox after they trapped fiat deserve what they got. Obvious case is obvious.

And people are buying and selling. Those are the tools available. To all of us. Stop whining about it.

I am'nt whining. I am stating my point of view. For the time being, I have no financial interest in Bitcoin, short or long. I don't care if Bitcoin smashes through $600, I don't care if it plummets back to $400 (cos I won't even be thinking about buying until $200 range). I am a shite trader but my general outlook on Bitcoin has been pretty good. I have no faith in this rise. I think it is all bullshit. Doesn't mean that some people won't get rich from it and many more won't ultimately be out of pocket cos they will, but this is my opinion.

And I don't have the same tools as everyone else. I can't move 1K+ BTC playing chips around on both sides of various exchanges walls, buying into one and selling into the other in order to create a false impression, and I certainly can't do what the Chinese exchange operators can do and simply simulate artificial trading algorithms. This is a cornered and corrupt market. I am not the same as a whale and I certainly am not the same as a whale with means of cheating/fooling the market.

That is whining. And a pity party to boot. If you had only held onto those early coins instead of snorting them up. If you really have no interest, just go away? Why stick around?

Compulsive addictive behaviour disorder.

I have asked my girlfriend to find me a pop psychology book on it.

If only the best part of you hadn't dribbled out your mother's arsehole as your father ran off without paying, you might not be such a prick. A fucking ignorant prick at that but ignorance is common amongst Americans so perhaps that is more a cultural thing. But realise of course, I am taking a very charitable view on that.

frothy!

is china awake? ::)

should of sold >:(

it is just manipulation with price, you can check at http://bitcoinity.org/markets,
Huobi and Bitstamp, for 5 days purchased over 500k bitcoins,
It is so funny, 500k bitcoins for 4 days, and after that for next 4 days purchased less 10k bitcoins.

It is BIG manipulation with prices, Just check and compare volume and time, it not real.

lovely, books to cure psych disorders !
I remember TA101.Also in vain.
Best advice for Readers of MatTheCat`s posts:before reading take some antiidiotic pills.It works

Last time we had a chat was bitcoin not around 600 and was I not telling u it was going down? Try saving your smart cunt comments for when/if I am proven conclusively wrong. See ya when Bitcoin is down the 200s.

Mat, have you ever gotten screwed out of a stop-loss order on any of the exchanges?

Wouldn't recommend setting a stop loss on Bitfinex.

a) U are just asking for it to get farmed against the grain of the market by exchange insiders and/or bots simply farming by guessing (my bet is on exchange insiders).

b) If it triggers, u are likely to find that most of your trade actually gets triggered at much higher rate than the Stop Loss that u set.

Trade with a mental stop loss where u decide that if the price breaks above a certain value, then plan to leave your position on next correction/spike depending on which way u are trading.

Gotcha. And that is a good piece of advice.

The reason I asked about orders not triggering in your own personal trading is this - you started out trading with roughly $20K USD, correct? That is in my opinion a good chunk to trade with.

I'm genuinely curious if you had ever considered making a larger number of "micro" trades on the swings (referring to going long), as opposed to holding out for longer periods, thus generating more risk.

But I suppose if orders don't get triggered, that's only really a viable strategy if one can sit in front of a computer 16 hours a day.

There are tons of 'bright' ideas like simply making micro-trades and coming out it when the market goes $10 in your favour or something. However, as I have found, for every bright idea, there is can of psychological worms that gets opened up that the novice trader never bargained for. Unless a trader times his entry at absolute bottom and his exit at the absolute top, the market will always taunt and jeer at the trader, making him feel like a fool and filling his mind full of 'woulda shoulda couldas' that will ultimately lead to some very foolish and out of tune trading decisions being made.

I have just come through a little stint of holding off or indeed a reversing a trade when I should have stuck to my guns and then diving in out of sheer frustration chasing yesterdays missed opportunities when I really needed to stay the fuck out and just sit back and observe. If I had unlimited supplies of fiat then I may go on to learn lots about myself and about trading and may even grow into a very good trader. Problem is I have very limited supplies of funds and it is a case of 'how many bangs in the face can a fighter take, before he decides he just isn't very good at it'?

I am through with trading Bitcoin. Period. I may invest in the future, I may not. I shall never touch leverage in any investment ever again. Leverage is like an amplifier of all the psychological neuroses that leads to erratic, impulsive, and invariably bad trading decisions. With leverage, I have had some very big wins. But my leveraged losses are much greater, most of them small but numerous, some of them large, with my last and final one, being fucking enormous.