Bitcoin Forum

Looks like the BitStamp/BTC-E/CoinBase price manipulation fraud is approaching an end, and the price of Bitcoin is headed for a major rally. The big exchanges sabotaged the price so they could buy low, and I expect BTC to head rapidly towards $1000 now ...

So your theory is that the recent price drop was due to the exchanges manipulating it?
One can't really know such things and many theories are out there. I for one do not believe in such a story.

It is basically like Smoking Mils the Runescape clan that maniuplated prices of items in game. One minute a certain potion is worth 5,000 gold each and within two days it is up to 7,800 each and they already sold and dumped it all. The trick they used was having people buy in and then swear everyone to secrecy and it worked for them, the inside buyers knew what the new item was everyone would buy and they silently bought items for a few days and then made a "HUGE ANNOUNCEMENT" on their forum for the general public to see and the first average people to get in on it made some nice bank and the late comers lost a ton.

Bitcoin could be done this way also but its real money you are doing it with and most people didn't put real money into Runescape, they just played for awhile. So to do this would be very risky to crash the price and make it go way back up.

Monitor the trade volume on leading exchanges from 5-7 of every month. U'll see something unusual. Though U wont find the same on LocalBitcoins as that cant be manipulated.

I don't get it, are we talking about the price of which is going up according to demand-supply or you have any proof of "manipulation"?

I can't say there is manipulation if some guy made an extraordinary play, making a 1:3 leverage. I would use bots if a I want to make short orders, not like we have seen this past week.

Manipulation was *claimed* to exist on some Chinese exchanges which are believed to have created "fractional reserve fake bitcoins" out of thin air to generate profits. But it hasn't been officially confirmed yet.

I've never heard of manipulation on other markets and I doubt that manipulation has caused the price drop. Of course it depends on how you define "manipulation": If any sell order is considered manipulation, then OP is certainly right. :D

I agree that recent price movements are encouraging. But it's too early to call the next rally yet.

ya.ya.yo!

I was hoping to pick up another coin or two while the prices are still low.  Not sure what bitcoin price will be when I'm ready to purchase some more at this point.

so you're for an individual not associated with an exchange causing the manipulation? i don't think its debatable that manipulation is taking place at this point. 30k sell wall = proof

In the last few years it has been stated that High Frequency Traders on the U S stock market have managed to get in between buyers and sellers and "skim" the market.

Without getting over technical they achieved this by being able to "see" a trade hit the market and act before the main market saw it.

If you are interested in how, what and why then read FlashBoy. It's a real eye opener

So you propose that "big exchanges" have coordinated a massive sell-off at lower than market prices, suffering a huge loss and losing bit coins.
In an effort to buy at that lower price later, and require more bitcoin than they originally sold,
as a conspiracy to make a profit....
... accomplished by losing money and bitcoin.

Do you realize that is a self conflicting statement?
Besides it would require them to IMMEDIATELY buy while they have created a temporary drop in value.
But if you understood how markets work, you wouldn't have made this post in the first place.

There was no conspiracy.
Posts like yours are the only manipulator due to panicking public opinion.

ding ding ding... check out Chinese operating hours for more mystery!