Bitcoin Forum

Or is it just the market doing its thing?

I mean, down 17% in a few minutes? Did some early adopter sell a bunch or something?

Thanks for the link --

If the mod wants to delete the OP, that's fine. Looks like someone beat me to this topic.

Sure is strange, though! There must be all kinds of scheming manipulators out there, playing with the market, all trying to make a buck...

Yeah... it could just as easily be someone dropped the price to spook the market before they did big buys.  If you look at the hourly chart, there was 50k BTC moved on the downswing, then the next 2 hours combined about 140k BTC were moved, and the trend was up.

Obviously a *lot* of games were being played this evening, possibly by several parties at once. Someone had some serious money to play with, too. Bid walls of 50,000?

That having been said, I doubt BTC will be $2.60 a week from now. It's most logical that after this washing-machine spin cycle (or stomach-churning roller coaster ride), the price will be...what it's been for a couple weeks now. $3, plus or minus.

Assuming the US Gov't doesn't make possession of BTC a felony ;)

This is the only time I disagree with you :) Given the dumping volume, it's hard for the price to climb back to $3. Of course it's based on my experience on tradining penny stock and BTC might be different (although they're more alike IMO).