Bitcoin Forum

http://bitcoincharts.com/charts/chart.png?width=1861&m=bitstampUSD&SubmitButton=Draw&r=2&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0&

https://s3.amazonaws.com/tradingview/z/zlhNayqU_big.png

who is dumping 2.5k bitcoins now? are we going back to $400 and continue the down trend to $3xx?

Traders who are satisfied with getting more than 15% profit in a week?
That's an awesome short-term trade, really, we can't blame them.

To me that dump appeared 100% manipulative. Huobi was still pushing up and had no sign of reversing (wave pattern on Huobi)

Bitstamp was also moving up, slowly, towards the $550 wall.

If they wanted to make use of the momentum they would place a wall ~$540. Instead they market sold it all. Makes no sense at all. They probably bought back lower after the sheep panicked.

I think people blow this out of proportion anyways. There are 150 coins created per hour. That's over 3k a day. This means that less than A SINGLE DAY's worth of BTC was dumped. Thats nothing. People need to quit trying to make more of things than they are.

Hmm... in the BTC-E exchange, there were several bulk buy deals, each worth close to BTC1,000 over the past 48 hours or so. So some people are buying and others are dumping.... everything is neutralized in the end.  ;D

Expecting the price to go below 400 is very unprovable, unless if there is a really bad new, but no one will be dumping at 400, most people bought lately at 600-800, they wont sell at 400.

Given the rise over the last few days a correction is actually very healthy for the market.

Yes, we dont want to have such a quick rally that can end into a final dump or bubble capitulation.

Better to rise around 30-40 per week, than the same amount in one day..

but we are going good

https://images.angelpub.com/2013/50/22504/lmp-bitcoin-chart-edit.png

Who cares? 2.5k is not enough to shift the market under $500 again so let them sell and enjoy their profits.

 ???

"Lately" the price has been well below $600.

"Most people" originally bought in for less than $100.

The only ones who paid $600-$800 are the latecomers (and holders buying during dips) who bought during the rise and fall of the most recent bubble.

Surely it would require a larger number of people to be buying at those levels to raise the price. Sub $100 buyers might be in the minority by now.

the raise has stopped, i think the op is right, we are heading back to $300

I can confirm. Buy orders between 240-320 are ready.

Why so high?

Better to buy @140, don't be a bull!

+1

1st reply = correct answer.

There's still hope for this forum :D

If this were true they wouldn't dump it all at once but sell gradually.

Why? Many traders have profit targets, but also like let a profitable position ride as long as possible. Someone has to take the first step, (i.e. take the actual profit), which triggers a) others to take profit as well (their long position won't ride much longer), and b) pure momentum traders.

Slippage is the reason. Of course this are likely many people as you say, but if this is "someone" dumping 2.5k BTC he's not acting rationally.

I really don't know what makes you say that.

I don't know your volume, but did you ever trade (on, say, stamp) actively trying to avoid/minimize slippage? It's harder than you think.

If I split up my own orders, the market often "runs away" in the meantime, if I don't split them up, I incur high, but predictable slippage (I can say pretty much with certainty how high my slippage will be, on average).

Anyway, I don't see how "rational" or not factors in here at all... how is taking a 20% profit "irrational"? Because if the actor wouldn't have sold, we would be even higher? That's not a way to argue in an n-player game like a market.

EDIT: re-reading your post, I guess "irrational" refers to the dumping part, instead of splitting it up. Consider for a moment however that a dump incurs higher slippage, but might trigger a stronger momentum reaction, so again: it's not necessarily "irrational", just a gamble, if you want.

Split 2.5k over 48 hours and I'm sure you'll do much better.

Different trading styles, then. I often don't know 48 hours in advance if I want to buy or sell.

I don't day-trade at all. 48 hours is way too short a trading time for me. 48 hours to liquidate 2.5k BTC if you need to diversify would be the absolute minimum for me (I don't have anything near 2.5k BTC though).

Me neither (on both parts :D)

I don't "daytrade", but I do trade swings, and while I'm sure the more talented traders (like lucif) can often see the signs in advance, I usually have to wait for confirmation in the form of trends being touched or broken, i.e. I can't tell 48h in advance.

So if I see signals that make me believe we're in for a, say, 10-15% swing, and I know in advance I will incur, say, 2*2% slippage on the trade pair, I might still take it (if I am sufficiently sure about the swing going in the right direction, and far enough, of course).

Agreed ... there was 3 shakes of the tree taking out all leveraged longs on both

bitfinex
500plus.com


like how they took it to 550 so as to not scare the market too much...lolz

Seems like a rigged carny game to me

Go old school and buy coinz OG style ..i.e buy real ones and HODL :D

Pump and dump.

Is that what your dad did to your mom?

Its what i did to your mom.

My mother's dead; did you exhume her body to have your way?

yeah, I heard RPN9 is a known necrophiliac. Stay away.

The quality of this forum get's better every day it seems ...

Thats what a woman who happens to be your biological mother said.

I guess I'm in the latecomer category, but I jumped in at the end of the $300 and to mid $400s so it's been nice seeing it go above $500.

I will say this: I might be relatively new but I'm not stupid, nor am I a big risk taker...not in this or anything else. I seem that way to others who assume I'm oblivious to risk and impulsive but it's not the case. I research, observe, calculate and learn before making a move and I don't yap about it while I'm deliberating. So people see silence...silence...silence...BIG ASS MOVE....silence...silence... etc so to them it appears radical.

Just how I go about things. I'm not a long time expert here but I know that bitcoin has real world value and that it isn't waiting to be adopted, it IS already being adopted and that adoption is growing, and the adoption is going to continue. I realize there will be drops and rises and there will be bad news that scares people and always idiots who don't know what they're talking about - and I see bitcoin swimming through all that and continuing about its business of being useful, and its value going up.

That said, to you all who seriously think the price is going below $400, you're just full of shit. All there is to it.

Whether you're horsing around and trolling or actually that low watt remains to be seen but anyone who seriously doesn't recognize the potential value from current adoption and who sells out or keeps harping "bitcoin is doomed" is just a dumbass in my book and not worth listening to.

$300 below?

My ass.  ::)   ;D

$565 we are going down!

The better way would be dumping around 200 btc on each pump peak, but dont forget that sell could have been made via leverage on some trading platforn, i mean if someone closed his order and took profit, then he doesnt care about what happens on the exchange.

Of course he does, as the slippage is included in the account of the provider of leverage (Bitfinex probably).

huge 5k dumped!

these dumps almost broke $600, the down trend is coming soon

Welcome to Shroomsie's ignore list.

 ;D

aliens.

bitcoin was seen as competition to the intergalactic cryptocurrency they had already established.

Welcome on board, Whatsover.


And who's dumping.. I think probably some whales who don't want to wait any longer for a nice amount of FIAT money. Allthough I see this just as a stabilization; we can't head to the top in our straight line. I think we'll beat yesterday record soon enough again :).

I could think of a dozen different perfectly rational reasons for that dump that would all be completely lacking in any evidence to imply a strong and sudden reversal.

Besides, if we really are repeating history and do for another spike soon, we're also due for a couple days of pretty impressive flash crashes. I would not be surprised to see a price under $480 one or twice in the near future before the spike.

many dumps happening, we are going back to $400 and $300, check price trend at here: http://www.btcpredictions.com/

I think you're way to knew to spread this kind of bullshit over here.

Yesterday, at $630, some feared that that was the beginning of a crash, as we came from $660. And look where we're at now: $660.

We're on our way back, to the top!

The 20 days predictions are erratic, as the dev said they are there only for fun.

*Note: These predictions have a relatively high average error and are significantly less reliable than the shorter term predictions*

really? we almost broke $600

lol, your name is 'falling'. Look sorry you sold hoping for a drop, I did too and quickly realized my idiocy (spent the 180$) to recoup the small 30 minute lapse in judgement and bought back in. This could go vertical any time now. Try not to get chopped out and don't fud just because you are out.

A lot of people who bought Bitcoins when the exchange rate was going at $350-380 are currently dumping their coins. Good for them. Almost 90% profit in less than a month's time.  ;D

I think it has just been an EMA bot breaker movement. Many reactive bots based on technical analysis have just sold after this movement and will enter again with loses after another huge movement up.  <br /> <br />Posted From bitcointalk.org Android App

Great money indeed. :) I didn't sell anything, I will wait for later on to sell a very small part of my BTC. (the rest I'll HODL).


They're screwed. Looks like we're quite stable at the $660 now.   Offtopic: I didn't knew Bitcointalk had an Android app ^^.

Day traders lol, isn't that who always dumps them?

Ehh, no? During dumps / crashes there are also a lot of "long term traders" who think their retirement is in danger and dump coins ^^.

So, it isn't just the day traders that are dumping.  Also, I don't think day traders hold great amounts of BTC. They might trade BTC to altcoins and vice versa.

we finally broke $650 after a long week waiting, it's time to go back to $4xx and $3xx now!

We won't see such prices, with the recent positive news the value will rise more, the 3/400$ range is history.

2xx bitcoins sell wall at $650 now!

we finally broke $637!

we finally broke $627.5! $600 is not far away now!

And now we finally broke 638...wait we're falling up?

Since you have your way of writing and the troll that comes back to the forum every time the price goes down hasn't posted anything although he was online..

https://bitcointalk.org/index.php?action=profile;u=124886

Is this your new account Igorr?

People dumb yet people still buy packs of things like 1k BTC. In the end it won't make much of a difference.

Lol, the trolls are out in full form now ;D

we finally broke $615.5! $600 is not far away now!

$300 eh?

it could be soon, no worries

In your dream keep dreaming. lol