Bitcoin Forum

I have been watching the exchanges since last night & I notice everytime it gets past 330 it quickly get shot down with huge <BTC100 orders. Now that margin accounts and shorting exist it seems people are betting even more coins than they have, that the btc price will continue to go down. Maybe someone with a lot of coins keep building a short order like he did at $300 with that huge BTC30k wall??? Im sending out a nice tip to whoever can help me find out who is causing this

At the moment I think there is only an high manipulation  so be careful when you buy some btc ;) . 

OP, I know you are shorting. But, who cares? :)

Recent manipulatuon was so blatant that nobody will shit their pants when someone dumps insane amounts.

 If some dumb whale dumps 50k coins and eats all the asks, it would not mean that "bitcoin is dead", it will mean only cheap coins for us.

Very true... My neighbor was so excited he bought in at 340, Called me hysterical about how it is off to the moon now! I don't get why you guys rush at every dead cat bounce we have. These are all bull traps in case you guys haven't seen this before! This coin is slowly crawling back to the realistic price before anything like mt gox or their willy bot hit the scene

Yes of course , the bitcoin value is dead  but the bitcoin protocol is still working  :).  *Personal opinion* I think the bitcoin value ( not price)  was overpriced in the past months  and now it is returning to the origin ;).

Look at the charts... Huge chunks are being shorted every penny above 330. Before it was anything above 340, now its 330, tomorrow's high will be 320, seems like a nice slow bleed down to me. Someone out there is making a massive short order! Remember it has to be covered at some point!!! But when?!  ???

We getting lot of news, russia gonna ban bitcoin. Simple logic, all russians exiting BTC. It makes no sense to hold it, when your country bans it.

Yawn.

I'm playing too. Bought at 280-315 and now selling at 330+ hoping to rebuy again at 300-320. Will make few coins if I'm lucky.

You def will be able to bro, Look how more short orders are opening at 329 now, just had a huge drop to 325 & its continuing fast.......

Yawned @1200.
@1100
@1000
...
@300

Wake up sleepy, it's morning!  And ur muny's gone!
:D

*mourning

LMFAO!!! We all need to ride this one out man... I see massive shorts opening up at every pop & right now all pop's are just created by short covering. Seems like all the real buyers are still waiting this one out to see where it's actually going! These little dead cat bounces don't fool us, this coin continues to make lower highs all the way down  :o

What is with you lot talking in the third person about yourselves?

So I looked at bitcoinwisdom to see this developing negative momentum and bitfinex is currently at 328.83, stamp at 329. Incredible!

Dump it more, babe! I need it below 320!

A huge percent of "the real buyers" ate the 30k wall on bitstamp. We'd be well over $350 right now had that wall not existed. It basically offloaded the spring in a delicate fashion leaving us at a confusing point where there isnt enough demand to go up, but no one wants to sell.

Ahahah I think that I will buy at 290 $ ( or at least I hope ).  Dump it !

Hence why this price is going no where... Remember that 30k wall was actually a giant short order. This will be reflected in the price later & plus everyone who already went "OMG CHEAP COINZ" has already bought up a lot of them! Now the shorters who covered at 275 have money to play with and have been shorting all the way down from 350.

I dont know why you get the idea it was a short order when 40k coins were transferred to, presumably, bitstamp on the day the 40k coins were sold. It was just a regular sell.

Fallin..

Tell your whale to grow some balls and dump 200k coins on the market at $50..

Do it bro, you claim BTC is dying where are your balls? 

It is just a preparation for the weekend dump.

More cheap(or at least cheaper than mid week) coins at the weekend, as usual.

Wondering how big the wall will be this time, and where it will appear this time

My bids are ranged down to $271. Would be insanely happy if some whale eats them all :)

You've seen a couple of mine I'm sure. I've opened/closed 40 shorts of this size and only 2 long positions the past 13 days. The real way to get cheap coins isn't buying low, its shorting the whole way down.

Trade  Opened     OpenPrice   Direction  Size    Deposit  Stop     Trail   Limit     Closed      losePrice    Liquidate    FundingCost TradeFee     Profit
 37   2014-10-06 11:XX:XX   341.12506  Sell   0.0250  1.03222   372.12506    -    -   2014-10-07 06:5X:XX   322.60385    user                  0.00000000  0.10236900    0.48961357
  36   2014-10-06 11:XX:XX   343.00175  Sell  0.0500  2.07521   374.00175    -    -   2014-10-07 06:5X:XX   322.60790    user                  0.00000000  0.20580600    1.08415297
  35   2014-10-06 11:XX:XX   337.15309  Sell  0.0300  1.22767   368.15309    -    -   2014-10-07 07:0X:XX   314.95000    user                  0.00000000  0.12175200    0.71305036


Direction    Leverage    ฿/$    Open    Stop    Trail    Limit    Deposit    Size (฿)    Funding Cost    Profit/Loss (฿)    Action    
Sell    10:1    0.03    329.02    360.02          1.19583    9.88290    0.05922    0.04363    
Sell    10:1    0.04    329.26    360.26          1.59430    13.17600    0.07902    0.06799    



SELL SELL SELL  :D

SELL SELL SELL BUY BUY BUY repeat :)

Only because these horrible manipulators are driving the price down... Obviously we need to join them just so we don't lose all our funds on the way down!  >:(

ftfy :)


BTW, these manipulations have a name - market trading

Um no BTC didn't just lose over 70% of its value because of just market trading... Lets be serious here

Me too , I don't think this is a simple market trading ... this is a manipulation from an earlty miner/adopter . ( I'm not sure at 100%).

Trust me this is somebody who just got into the game... Miners have been dumping slowly & very few hold but some do.

Early miner is like saying  early adopters , only  a couple of them can do this .

Anyone with a few million dollars can do this again & again & again!

ATH from the last bubble should not be considered real value (at least not at the time it happened), that also had elements of manipulation.  Don't get me wrong, I don't like shorting, but all those shorts have to be closed at some point.  When the price finally starts going up they will have to close and as a result it will move faster :)

Long term trend is up, protocol is working, this is just the beginning.  It just takes nerves and patience, like raising a child.
The difference is, it will not give the same returns in the same amount of time that those lucky very early adopters had.

Everything you said is correct & great! But when you said long term trend is up....... wtf??? ??? ???

What I meant was we will have a new ATH sooner or later, preferably sooner.

You know this too, but you cannot agree on public as you are (leverage?) shorting now ;)
Just give it up because big traders never make decisions judging by the opinions on this forum. Don't worry, we will see big tasty dips soon and we will take our profit from them. Just don't try catching tops or bottoms.

I doubt this, since the current all time high was created by the mt gox willy bot... I don't think we can see an advancement that big until a stick of gum is $10


That's right we need to forget about bottoms and tops! But overall you can't deny BTC has been in a downtrend since it hit that $1,200 mark

This statement is wrong. I remember those days and price was pushed by Chinese exchanges. Willy Bot was working on MtGox only and its pressure was insignificant.


Downtrends follow all the bubbles. The same happened in 2011 and 2013 and all of them were recovered.

Lmfao why are you in denial... Mt gox was always 100-180$ above the other exchanges because it was "purchasing" bitcoin from many different addresses who all purchased approx. $2.5m in all purchases. Blatant manipulation, look it up man. Downtrends follow all bubbles yes, but notice nobody says a bubble follows a downtrend, because its RARE

Still can't breakt this downward trend... should be some nice bull action if we pass 331!

Friday will be a big sell day, that's when people can sell the coins bought cheap this past weekend on Coinbase,  they are available Friday by end of day. There were so many coins bought Sunday through Coinbase that they ran out of coins to sell.

Since summer 2013 almost everyone realized that Gox is playing with non-existing coins and only idiots continued trading with them.. Just to lose everything.
I'm not sure if we have bubble soon, but now chances to stay above $300 are much higher than before. Even if we don't have a bubble this or the next year, price may at least keep its level with slight grow due to natural adoption.

I think the theory of CaVirtex trying to make a quick buck shorting BTC was quite interesting. In theory they used customer funds to short BTC and subsequently created the Bearwhale wall in order to keep the price down (now panicking), now we're about 10% over that level, they lost.
But this is merely speculation, a wild theory I read somewhere :)

What theory....

There's no doubt that huge wall was actually a giant short interest being built up at $300... Probably the same people building that massive short position everytime we hit $340. 10% is nothing to these whales, especially when it was with customers funds loll no worries!!


Very true, it was obvious but a lot of people were in denial & by the time they found out they couldn't even withdrawal anyway! & yea looks like we'll be stuck in this 300 range for a while

Huge shorts forming everytime we go a little over 350.... Look out for a slight correction, tomorrow might be a few %'s down