You under estimate the latitude available to the "price discovery" process.

The market will dump until every last drop of profit is extracted and only die-hard hodlers are left. It's only 20 months since we were at $1k and that level can easily be retested legitimately.

Expect the unexpected.

Same. Almond flavour gifts usually bring nocoiner apathy in zonk..gambits aside though, it has to be tension ridden to force the exchange. I don't really care if ziggler shakes his coins around or yells a wally, noob losses get taken and digested anyway.

I'm not struggling.

RSI hitting 30 is quite bullish actually.

I always thought there was more of a selloff to come since we've never plumbed the oversold zone on the 1-week chart since way back in 2015. Getting that out of the way might make it safer for traders to contemplate a trend reversal since in bitcoin it tends to only visit that region rarely and once (or max twice) per cycle.

This is raising eyebrows in other quarters as well.

Bay looking immense.

Amma gonna grab me some more Bays at this price.

Bull trap of course. Set by the dumper.



In other news...

Hey, you can never have enough fearmongering when it comes to bitcoin 

There's always a pumper at hand to come and extinguish the concern !

They made a film about it.

it had to buy 1M bitcoins

This part is nonsense. They didn't "have to buy 1M bitcoins" because to do market manipulation you only need enough to create movements in the right direction. Ever noticed how Bitstamp always follows and never leads ? (At least I've never seen Bitstamp lead a bullrun, it constantly has to be "dragged out of bed" by Bitfinex).

Google: "michelle mone steve wozniak", then hit the pictorial summary that appears. Seems you can get in that way without a registration.

LoL. It doesn't have to.

The only thing that has to "stand up to scrutiny" is the integrity of Tether's collateralisation.

Feel free to point me in the right direction.

I don't understand why people continue to make this argument as if it's significant.

2% of bitcoin's marketcap is HUGE and easily enough to control the entire market, since only a tiny proportion bitcoin's supply is ever to be found on orderbooks. The significant ratio is not Tether Marketcap/Bitcoin marketcap but Tether Marketcap/Bitcoin Orderbook size.

Anyway, it doesn't matter. Just the fact that there's an arbitrarily controlled counterfeit money supply that requires no backing, is supported by the biggest exchanges, and is created at will by a private entity in the Cayman Islands is easily enough to scam the entire industry and implode the market if and when it goes tits up.

Here in fact is the "MT Gox" effect right in front of our faces:

1. There is a blockchain that is unlike any other in that it has no protocol defining the coin supply automatically. It just gets added to manually on an arbitrary basis by a human being

2. The ability to do this is under the exclusive power of a private company registered in the Cayman Islands with a couple or more private shareholders

3. There is a notional idea that the amount of coin supply represents the amount of "real" $USD that is sent to the bank accounts of that company registerred in the Cayman Islands. But this is simply an unverifiable fairy tail as far as regular traders and observers are concerned

HOW IT AFFECTS BITCOIN

1. Many of the biggest exchanges in the world that quote "USD" prices for bitcoin are actually trading bitcoin against this "synthetic blockchain dollar" as opposed to real bank deposits

2. In particular, the largest exchange in the world (is it ?) - or one of them, Bitfinex

3. Bitfinex also happens to be owned/run by the same owners of the Cayman Islands company that produce the "fake" dollars, So this would effectively allow them to create any amount of liquidity for nothing on the USD side of the trade and buy of the bitcoin on their own or other exchanges, thereby creating hugely artificial market pumps/dumps. We do in fact see Bitfinex leading the price in a lot of pumps as we did today

4. There are some well researched articles showing that the Bitfinex/USD Tether operation has essentially been responsible for the ENTIRE price rise in bitcoin right from $180 to where we are today

RIP Tether ?

I wouldn't call it a "breakout" just yet.

1-week chart EMA fast-average is still diverging to the downside. Volume is steadily diminishing which could mean that selling is slowing - or could mean that demand is slowing and we've just seen the bulltrap prior to breaking down.

No. I'm long - always have been.

I just would like to be holding real value, not fake monopoly-money value that's all. And can be doing without this type of stuff which gives the enemies of bitcoin lots of ammo...

Sure.

Natural as a chocolate teapot.

That's because Bitfinex have been front running the market for 2 weeks using their own home grown scam dollars, commonly known as "USDT".

Look at the ridiculous arbitrage between finex and everywhere else. This won't end well.