Bitcoin Forum

Massive sell walls set up just above the price.. Someone is about to make a lot of money shorting BTC.

Slowly buying and always holding with an item that cannot produce 21 million can only have one outcome.... this winter will be a very long one, weather the storm or get out now.

What massive sells walls are you talking about, don't see any.

Can you specify what exchange's orderbook you look at?

It would depend on what you define as collapse.

A smaller one only has like 120 btc vol a day.

I can't see any massive sell walls yet, but they will probably appear in a couple of weeks.

Nobody is trying to drop the price, it's just a normal market behavior. You got spoiled by Markus and Willy who
prevented the early 2013 bubble from deflating to 30$ or below and then used more fake million $ to build the new bubble
much faster and higher than normal. Now the disillusioned market has to find THE bottom, and hopefully without manipulation.

If those bots existed, they also disillusioned the market from finding a true ceiling. If manipulation is so easy that a single bot can outwit many seasoned traders, then it will never be possible for this model of trading to ever work. It is then not Bitcoin that should be blamed, but instead the people running the unregulated exchanges and the unlicensed brokers that use them.

Yea it's pretty obvious we've been playing the shorting game all year. The market has been more reactive to dumps than pumps, so the easier way to make money is to scare people into dropping their coins by dumping and walls, than buying and pumping. The shorting game will end when the price is too low to pass up, or the shorter's btc get burned.

I have a feeling it will be the price is too low.  We would need mass capital and organization to burn them, it is possible however.

We really need the bitcoin halving to come earlier, miners are dropping bitcoin too fast...

Do you mean the early adopters / miners? Maybe you're right , but we can't do nothing - only see what will happen ( personally I think the price will not drop under $ 300).

I had hoped we wouldn't break this indicator, but we have, and quite so.
We can expect sub 100 in a 1 to 2 month time frame now. Worst of all, there's no indication it will stop collapsing there.

Satoshi was not betting on such bubbly adoption.  Bitcoin was never meant to have such high market cap so soon.

Would you mind sharing which indicator? My most bearish scenario is currently about 140$, not double digits, so I'm curious.

we'll see 500$ soon  :)

I thought you were talking about 2000XBT sell walls.

Quote my words : January 1st Bitcoin price will be +$400.

Why? Because it's a new year. New year means new opportunities.

You don't know a damn thing about what Satoshi was "betting" on.

Since you clearly do not understand what a ponzi is, please enjoy this link.

http://en.wikipedia.org/wiki/Ponzi_scheme

A ponzi requires that true profits and losses are kept hidden from investors. What is hidden in bitcoin? Profits? losses? trades? transactions? supply? code? I can't see how an open-source ponzi is possible. That's not to say it is a good idea to "invest" in bitcoin, but it's not a ponzi; it's just a stupid investment.

Bitcoin is the first  ponzi open-source  ;D  (* according to ponzi_breaker*).

You're correct.  Pyramid scheme is a much more fitting description :D

i think this drop is due to holiday season, once everyone's done shopping for holidays, btc rate will turn around

LOL, that was funny. But if that is a pyramid then all investments are. Gold is also a pyramid scheme, it has lasted thousands of years, but a pyramid none the less.

But I was told that the stolen coins would auction for way more than market because slippage, and then we'll all be eating peaches and cream?
Whahappened?

@RodeoX:  You're sorta right--gold is a pyramid scheme that's just beginning to break down.

WHY CANT WHALES PROFIT BY PUMPING THE PRICE AND GOING LONG.... SO WE CAN ALL BE HAPPY  :-[

I thought we were already there. That's why I went long yesterday when I saw the price fall to 360... Still deciding whether I want to cut my loss and close position or ride it out hoping for a rebound.

It's easy to be wrong in this market, but it looks like this peak of a wave is closing. So, it might make sense to exit now rather than trying to trade against the market sentiment. Live to fight another day.

Then again, if you think the price driver is neither TA nor the USMS auction and is, instead, the phony news out of China then maybe this bear rally is ending. I don't think it is, but you already know my bias. Good luck.

Easier to pump the coin price rather than to dump it. Anyone with huge capital will have easier time pumping the price up.

massive sell could be minimized with small sell walls, fragmmented all over the exchanges world

They will once they're done accumulating.  ;)

You can't pump what you don't have enough of yet... This is why they use leverage and a lot of capital to short the price down then they start accumulating big time then use leverage to pump it to the stars while they sell their coins to less informed people like you who think it's the rally to the moon!