He doesnt have to do dump anything. He could sell them off market in 1k chunks for 500 k $. And then watch the fireworks. Yes, that's what I would do if I were in his shoes.
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And this small correction was just the prelude to the crash, all market indicators show really bad.
Like which ones? Indicators like stochastic RSI, money flow index and MACD looked bad, and the ~300$ price drop that followed confirmed my post. But it wasn't the April 10th style of crash that I was expecting, this market is different, most sellers hold tight for now. If several hours from now, or even tomorrow 3rd December (if volume stays low) there will start another 300$ - 400$ price drop, then the scenario that I find most probable now, that the market has started capitulation, will be confirmed. The total drop from 1242$ to 840$ was about 30%, while the drop at the end of a supporting sub-wave has usually been about 10%, so that drop fits much better with the first large drop of capitulation than with another type.
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It should be possible to track the movement of such a large sum to the exchanges. But I still don't know how, do you?
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Bitcoin is revolutionary. It could go to 0.1 USD and I'm sure some geeks (like me) would still use it.
If it goes to 0.1 $ then it's going to 0, but this is very unlikely to happen IMO. However, a prolonged bear market could drop to double digits for a short time. Regarding the current market status, I believe we are within capitulation, but with limited seller pressure for now, the first large drop recovered quickly. When most big players will understand, they will dump big.
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5k new coins added on gox
Whale gives dump warning? That would be silly...
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Uber-bulls, this is a BEARS ONLY thread, you don't belong here, so get out! And this small correction was just the prelude to the crash, all market indicators show really bad.
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IMO 1,300$ is more likely to be the crash point. Right now there are about 8k coins to be bought up to 1,300$ (on Gox). When the sellers will see a significant amount of the bids depleted, they'll know it's time to dump big, or be left holding the bag.
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That's good, it shows that you're a reasonable person, and not a lunatic!
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I don't think that some conspiracy is required to crash the price. Just demand and supply, at a certain price level we'll see a lot more supply.
And this is not a 5-5-5 EW, we are way beyond that. We already had 148$, 233$, 378$ (rebound to 395$), 900$ and now we probably are close to the top of a humongous wave B, due to about 12M$ (on Gox) more than at the top 900$ crash. The EW theory turned out to be just a particular case, it needs to be rewritten.
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Obviously not, since I bought my first coins in May 2013, and joined this forum in July 2013. It's just a matter of increased demand and hoarded supply. And once it pops... an avalanche.
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By the same logic 3 ^ 2 = 9$. Let's hope it won't drop there.
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It seems the market has peaked, let's see how deep the correction will be.
Couple of hours after rally has restarted? Come on, Tzupy, you are way smarter, than that. It was to be expected there is some last ditch resistance before psychological barrier of 1000 breaks. By the way, volume of this "correction" is incredibly low. If this is the first sub-sub-wave in a type 5 wave, there is always a (relatively small) correction at it's end. But if this is the peak of wave B, then it's going to be a large one.
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It seems the market has peaked, let's see how deep the correction will be.
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it could drop 16x so back to $60, as it went from $32 to $2
Yes, but this would require about 200k coins to be dumped into Gox, and a lot more into the whole market. The 32$ to 2$ bear market took several months. It seems unlikely to happen again. But a drop to 300$-ish is plausible.
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If it doesn't stabilize above 900$, IMO it will pop.
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Happening right now, crashing right through $900....$1000 before the week is over.
Wait until it stabilizes above 900$, then we'll see about 1000$.
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IMO the current situation on Gox can have (at least) two possible outcomes: 1. break the resistance and stabilize above 900$, with a new ATH of about 1,300$. (the bullish scenario, although uber-bulls would say 1,800$ or more). In EW theory terms, the break would be the first sub-sub-wave, followed by a slow uptrend (second) and then the parabolic rise (third) and large drop. 2. failure to break 900$ and stabilize, followed by a large drop. In EW theory terms, it would mean that now we are at the top of wave B (fake return to bull market), and we can expect several large drops, with rebounds in between.
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As long as the price goes up, the merchants can make additional profit from accepting bitcoin, they can hoard a few days and sell higher later. But drops like 900$ to 450$ within 2 days scare them away. And once the bubble pops, most won't touch bitcoins, it's going to be too risky.
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IMO the whale who bought some 4k - 5k coins on Gox managed to transfer his coins to Bitstamp, and has a 2k sell wall there.
Not true. The wall was there even before buying. Maybe the wall belonged to someone else, but the dump of 1.7k coins on Bitstamp is real.
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