Why does it feel like this thread already hard forked? Now I see why hard forks are bad.

Looking at the 6h. Price needs to break 2600 here forcefully and with volume, otherwise will bounce lower.

As a perma-bull I'm probably not allowed to mention a bear trend, or say anything that would sound alarmist. Lol.

But I will just say that from a technical standpoint and past experience, a rising price on falling volume has never been a good sign in past bull runs. We'd need some serious rising buying volume from here forward to break the 2630 level and keep going higher.

Just sayin'. Stay frosty my friends. I hope it's in the cards.

I must have killed it with my posted vitriol about ETH.

I guess it's not allowed to talk bad about altcoins in a Bitcoin sub forum, but perfectly ok to talk bad about Bitcoin on a Bitcoin sub forum /s  

I'm sure you know I meant the poor suckers buying the rally. Or the poor shorts that just got creamed. 

Well maybe to look at it another way, I'd say that buying pressure would need to breach the ~2600-2630 mark with considerable force (rising volume) to consider us still in a bull run at this point.

Otherwise this is just a falling J-hook pattern seen so many times before...

Either this has been a massive bear trap and the bull run resumes upward from here, or this is a bull trap coming.

Flip a coin and take your pick.  

^{(Personally I don't think the downtrend is finished though)}

Now for you newer guys, something a little different, a wayback machine video on Bitcoin from April 2013.

Notice the outright hostility of the interviewer, while Jeff Berwick keeps his cool.  

http://video.foxbusiness.com/v/2302645969001/?playlist_id=937116503001#sp=show-clips

OP, your theory is probably closer to the truth.

What most new crypto enthusiasts don't realize, is that whale market makers initiate both bull markets and bear markets. And who are the whale MMs? Most would be surprised to know that owners of the large exchanges themselves are likely trading on their own exchanges, along with major mining operators -- playing both sides of the trade, front running, etc.

They sell their excess coins to public traders and investors during a bull market on the way up for fiat. And then during a bear market, they short the market on the way down buying the same coins back from weak hands (for much less). In doing so, hardly any real money moves from the exchanges' own credit accounts.

No, FedCoin is still in development. Stay tuned. 

Down to $88B now. Alts are trading into btc on the dips, so Bitcoin dominance % still rising.  Good sign for bitcoin. Bad sign for Altlandia shitcoins.

This guy gets it. The blockchain's (er, Bitcoin's) killer app is Bitcoin.

https://twitter.com/Coinnoisseur/status/879468433850683392

No, the reason is that all the troll traders that used to frequent this sub are now spending all their time trolling on all the various alt coin forums now.  Bitcoin is passe to them, the market too mature now and not enough impressionable young weak hands to try and manipulate in order to create more volatility.

Plus fake FUD stories, scams and hacks work better on those shitcoins. The Bitcoin community has been there done that and way over it now.

I'm sure that the troll FUDsters will be back here when the whole SegWit shitstorm cranks up.

If true then I would say bearish. That makes the float even thinner. Shorts can just keep hammering the crap out of ETH. Those ICOs will watch their funds dwindle to nothing.

IMHO this was the alt pumpers plan all along...

^^^^
Now that is some funny shit. I about spit my coffee. 

We hit $96B. Stay frosty my friends.

If you read the fine print on the Italian bailout deal, the "good" assets are getting sold off to a larger bank for 1 Euro. The "toxic" assets are getting bailed-in by -- you guessed it -- the shareholders.

Why of course.

Privatize successes, socialize losses. Heads the banks win, tails and the people lose. 

Wow, incredible manipulation by the central banks witnessed this morning.

Central banks and CFTC probably pulled all nighters over the weekend to figure out a bailout plan for the Italian banks, so they could announce the bailout first thing this morning and also strategically time a dumping of $2B worth of paper Gold futures on the market to suppress a flight to Gold.  Either that or the paper Gold dumping was to raise capital for the bailout? Who knows for sure. They are calling it a "fat finger" blunder, lol.

Either way, they succeeded in 'papering over' the Italian bank insolvencies for a little while longer. I don't think it'll hold up for much longer though.

As some alts trade back into btc, the alts will fall faster and bitcoin will have a more soft descent. Bitcoin's dominance % should rise some.

But whale traders will mostly trade btc back to fiat ( because they're smucks, lol). Look at the total crypto market cap. The whole sector is down. About $15B has been wiped off the top already.

Of course it was. And it was a successful FUD campaign, I have to give the PnD'ers a slow clap for that.

When I started seeing newb crypto enthusiasts on youtube talking about "Buy Ethereum, and maybe a little Bitcoin [in that order]" I knew the absolute mind job of the "floppening" was complete. The pumpers managed to push newbs away from Bitcoin and toward a new tech that is still so nascent, prepubescent, and basically unproven at this point, with a market float about 500 times thinner than Bitcoin.

The fact that a small whale was able to crash ETH on a single exchange all the way down to $0.30 is not a surprise to me at all. Just wait until the mega whales go full on ape shit shorting against ETH across all the major exchanges, it'll probably see the single digits once again when the carnage is finally over.