World controller types who hold power by control of central banking and fiat money would almost certainly want bitcoin to decline or disappear entirely. What if someone, I don’t know, like George Soros, or perhaps someone acting on behalf of central banks, decided to pump up bitcoins deliberately by overbuying it, only to massively sell into the first opportune sign of weakness. It wouldn’t be that hard to do. They might be able to successfully paint a fake top into the market. Result, killed enthusiasm, and a promising bull run, nipped in the bud.

Could this be a fake top in bitcoins?

I very much doubt they can yet manipulate the bitcoin market with the same precision that they can do the gold and silver markets, because they don’t have futures contracts, ETFs and naked shorting to fine tune the downside. However  those world controllers still have manipulation of perception via the media, and limitless fiat. In a small market like bitcoin, you’d hardly need that much fiat to move it up like that. Easy in fact if one had the sort of funds of someone like George Sorros or someone acting on behalf of a central bank.

http://afbitcoins.wordpress.com/2013/04/12/fake-top/

I'm convinced the world controllers will be or already are attacking bitcoin.

I think they've used market manipulation to paint a fake top. Have written about it here.
http://afbitcoins.wordpress.com/2013/04/12/fake-top/

Its not yet clear that the bull run is over. I can forsee you buying back in soon enough.

Would be the other way round wouldn't it? "Perhaps my pipi isn't really as big as I thought"

I drew in a parallel to the channel equal distance under the old channel out of curiosity to see if there might have been support there. It doesn't have much significance, just testing ideas.

I'm looking for support near the bottom of the previous channel at the moment, or failing that then the original channel. If we can stay above that, then the bull run still looks intact.

Time will tell. If it is then this is a darn good moment to pick up some cheap bitcoins.

Doesn't look quite so bad on a 3 month log chart



The red arrow indicates the peak of course, but also the moment we hit the top of the steep channel we were in.

I agree with you, something fishy about it. My spider senses are tingling.

Funny how the prediction came true though. Maybe you put too much emphasis on black swan events moving the market rather than statistical behaviour patterns

Nice blog 

They might hope to seesaw the price to persuade people its too volatile to be serious as a currency. If I was the PTB I'd be trying to control it first before trying to clamp down on it. Clamping down would be last resort.

Well I guess that what the resistance I forecast 

I offer my blog for free, make of it what you will 

Didn't look at any charts are anything to make my guess but I reckon this current bull run might run out of juice before that price. I do think longer term bitcoin may overtake palladium and maybe even 1oz gold. Perhaps in the 3rd great bitcoin bubble of 2015

Thanks for your analysis I also came to the conclusion a correction is on the way based on resistance at a long term trend line.



Found it very hard to be accurate in the price prediction due to the log scale and the shortage of data points but I think the idea has some validity.

i'm expecting a correction, there appears to be a long term trend line stretching back to before the last bull mania which might provide some resistance. Or it might not.. what do i know i'm just another guy on the internet telling you to do stuff 

If it was me, i'd maybe start by using about half the fund to buy bitcoins then shortly after buy the rest, but I'm quite an impatient guy and once i've made my mind up about somethign don't like waiting around. Even if there is a pullback or even this bull market peaks then crashes, so what? I think bitcoins in the long term will end up a lot higher than today's prices, if you buy at the wrong time that just means you have to hold for longer.

Correction coming fairly soon I think. We're close to a line of resistance on a same trend that goes back to the 2011 bubble.

I have a core holding that I won't sell for a long time. However I do have some reserved for speculative trades. i did sell a little bit, and will probably sell a little more in the near future. I'm thinking a correction is due soon.

There must be some big buyers entering the game, wonder who they are? Do you think someone eg the FED may buy up a whole load of bitcoins to ramp the price up. Then sell really quickly to try and cause crash?

Don't know why I bother its received no donations so far you could be the first if you want