|
If you look at the charts, let's assume for the moment that the whale(s) that started this whole insane pump on 6/11 just wanted to do it to fk over the Australian auction winner.
Then if they pumped and then dumped all their coins after auction, they should be just about out of coins by now.
|
|
|
|
|
Looks like a wimpy dead cat bounce to me.
|
|
|
|
|
So at what point can we call this a crash instead of just a "bullish correction"? lol
Obviously everything from 430 onward was a complete lie.
|
|
|
|
Huh and here i was thinking that each transaction has a buy and a sell side. So who's buying the coins during those high selloff volumes? And who's selling them at high buying volume?
Whales can massively short with leverage, dumping coins back down into their own bid walls, making money the whole way down. You do know how markets work, right? |
|
|
|
|
We will say goodbye to triple digits forever within 24-36 months, worst case.
|
|
|
|
So this all makes perfect sense, eh?
Weeks and weeks of excitement and price rise on all exchanges. People were saying China was leading, providing 90% of the volume, and couldn't get enough.
Then an auction ends.
Then an exchange has network problems and goes offline for a bit.
Meanwhile price plummets.
Exchange comes back online.
But now we're at -130/btc, and all trading has essentially come to a complete halt.
Makes perfect sense, right? But...but.. China demand?? Right?? Fellaz??
I just put bitcoinwisdom on 6h so it shows from the beginning of the run up and I don't see volume going down. Not at 4h, 2h or 1h either. BTW I'm not used to anything making sense. High selloff volume is not the same as high buying volume. If China buying demand was really there and accounted for 90%, they'd just steamroll over this sell off, actually they would look at it as a huge buying op. I'm getting sick of people still touting that 'China' is somehow responsible for all the supposed demand. They aren't, because the whales that ran this up are not Chinese, they simply have open accounts on all worldwide exchanges include the Chinese ones. That's the dirty secret that the whales don't want you to know. |
|
|
|
|
So this all makes perfect sense, eh?
Weeks and weeks of excitement and price rise on all exchanges. People were saying China was leading, providing 90% of the volume, and couldn't get enough.
Then an auction ends.
Then an exchange has network problems and goes offline for a bit.
Meanwhile price plummets.
Exchange comes back online.
But now we're at -130/btc, and all trading has essentially come to a complete halt.
Makes perfect sense, right? But...but.. China demand?? Right?? Fellaz??
|
|
|
|
|
Lol at you guys and your health/nutrition talk. Lemme make it simple for ya.
First, go watch the two movies "That Sugar Film" and "Sugar Coated".
Then, strip all sugar, sugar substitutes, and alcohol from your diet. Do it cold turkey. Then watch over the following months as your health improves dramatically and your belly fat melts away. Simple, sugar is pure poison. Stay away from it at all costs.
Meanwhile in Bitcoin land --
Looks like a bounce from here, definitely oversold indicators. I'm wondering if Bitfinex going full retard just saved us from a more serious crash?
|
|
|
|
I wonder where the bottom is..
I managed quite spectacularly to disappear 10 btc earlier by selling at the exact bottom and buying in higher. Time to sit this out for bit.
Oh man, I know how you feel. Lost many btc in that head fake bear trap back in Nov. But then made up for it by rebuying around 450. I also just bought some more trying to catch this falling knife at 660. We'll see if it holds. My goal has always been to gain more btc over time, not reduce them. That bear trap back in Nov really taught me something: when in doubt, do nothing (aka just Hodl). |
|
|
|
 (Reddit readers will get the joke) |
|
|
|
Decentralized assets are so passé. Maybe we should consider an alternative?
Paycoin? Or wait for JPMCoin? |
|
|
|
I just bought at $660. Let's see what happens next.  I accumulate and don't trade as I have limited time and options. As I usually buy on Monday I was happy (?) to see the price down so I bought @ 702 as I posted last night. Being lower I bought some more today @ 666 just before it went down to 645. Seems to be back up to ~666 at the MOMENT.  |
|
|
|
I just bought at $660. Let's see what happens next. |
|
|
|
|
Hey guys, look at the market settling again right on a USD dominated round number like 700 (or 699.99)!
But wait, that's impossible because the markets are primarily controlled by the Chinese, right??? Why would they care about USD psyche levels? Guyzz???
(yes this is sarcasm)
|
|
|
|
Is that Aussie auction coins hitting the market?
Unquestionably. All those finance professionals have signed up with BTer because they know quality when they see it. As soon as the coins cleared they dumped them into the 0.12 BTC walls there and walked away laughing. Yep, just like in the last two U.S. auction rounds, the winning coins got dumped on the market immediately. Because we like made up FUD. |
|
|
|
|
Hmmm... seems that the market is deliberately pausing, pulling back... like waiting for some big news.
No, it couldn't be the Brexit vote? Noooo, that's preposterous, bitcoin market don't care about keying off of world events. Riiiight?? Fellaz??
(yes it's probably the Brexit vote)
|
|
|
|
You seem to be the one with your head in the sand and helping to distribute these kinds of extraordinary manipulation theories without proof. Yeah, of course there is some manipulation going on in the bitcoin space because the market cap remains small, and prices are largely set by a subset of coins on exchanges. Nonetheless, the demand for bitcoins is larger, more complicated and much more distributed and organic than you seem to be attempting to make out with your overly conspiratorial speculations about what folks are doing.
If there were really rich people manipulating bitcoin, they would have a lot of incentives to keep the price below $500, but they kind of lost control over that in the past few weeks, to the extent that some of those folks were attempting to contain bitcoin. Once price got passed $500, it has become very difficult to contain bitcoin and to get the prices to go back down.. Sure in the end there are manipulation successes, and sure they may be able to get bitcoin's price to crash.. but at the moment there is a lot of organic upwards price pressures that is making it tough, even for manipulators, to contain this bitcoin beast.
JJG, you completely misread me. I'm saying that if the whale [group? cabal?] wants bitcoin to go up, it will go up. Like it has since Oct. 2015. Thousands of Average Joes didn't suddenly come rushing into the market @ ~200/btc in October and start buying up bitcoin to where it is now. The whales did. And right now they aren't trying to push it down, they're trying to pump it up. Get it? |
|
|
|
A pump followed by a bigger pump less than a couple of hours?
What is happening?
Whale warring each other?
Well when you're the only whale in the market, essentially dumping into your own bid walls, it's easy. Nonsense. The one whale theory is total baloney, but you keep on with it for months and months and months... do you really believe such nonsense? Is there actually any evidence or logic for such an extraordinary claim? Remember the saying that extraordinary claims require extraordinary evidence... ? Where is it? The thing is ... that there is a "whale" ... but .. it is not a person!It is an entity / company / group of people / communist party ... that have between 80.000BTC - 150.000BTC coins!And they work 24/7 in 3-4 shifts maybe. Do you imagine just dropping dumps then leaving the poker table? ... Someone must stay behind and level the plain, to keep things afloat! ... till the next time the "whale" comes to pump & dump! This x 1000. It may be a conspiracy theory to many, but I believe it is completely plausible, especially if such a whale group was formed in the early days of Bitcoin. They could have accounts open on every exchange, and work together 24/7. They could write a bunch of coordinated bots on every exchange that work together. Not to mention if they have way more funding to back them than what is currently in the exchange markets, then they will control each and every local market. They would be able to control the rise and timing of bitcoin fairly precisely. And if they are connecting to powerful/wealthy people, then they will have insider trading knowledge/info many months or years ahead of the public, and will be able to time pumps/dumps on major news announcements. And no, of course there's really no way to provide proof of such. Just like there is no definitive proof that the Russian Mob is behind the U.S. Stock market (and every other major world market). So let's all just stick our heads back in the sand keep saying its the Chinese that are pulling all the strings and providing all the volume, 'cause that's what you all want to believe.  |
|
|
|
|
Show Posts
