First, I will be upfront that I want most of the bitcoin holders to lose money. This is mainly because of the flaming they put me through when I was bearish from the peak at $30.

I thought the manipulator was trying to keep the price up higher, but this never made much sense to me why he would financially take on this burden. How could someone with so much money be so stupid to think that bitcoins are going to increase in value. Why would he try and prop up the price, while continue to lose the battle on the way down. I just could not figure it out. Well, someone brought to my attention what the manipulator is all about. He is about taking money from many of the bitcoin buyers, or "suckers/fools".

He places these bid walls so that he can sell his own bitcoins in front of his walls to the suckers/fools. I like this because I do this on Ebay with rare antiques that I collect. When I see an antique that I want to buy, I will flood ebay with my own similar antiques. This will cause people to not bid so highly on the antique I want to buy because they see many more of the same or similar ones coming to the market. I then buy up the antique I want to buy, and then remove/end my ebay listings. Works like a charm.

I am manipulating ebay for the buying end, while the manipulator is manipulating for the selling end. We are both scamming the system, stealing from the suckers out there. We play on peoples psychology and stupidity. The manipulator makes bitcoin buyers think that there is lots of buying support, so they will pay more money. I make ebay  buyers think that there is much more items being sold, so I will buy them up cheaper.

So the manipulator is not trying to raise the overall long term price, he is about short term interests. He could care less the price of bitcoin. he is about stealing money from you suckers. In a way, his tactics will actually make bitcoin price lower in the long run, because he is robbing money from the system. He was probably the main guy who pushed bitcoin to $30.00. He surely has the money to do this, and all he needed was to spend some of it on the way up.

I like him. We will be at $1.00 before you know it. The manipulator will still be around doing his tactics. This is all funny because bitcoin is supposed to be an uncontrolled currency, but it is very well manipulated. In a way, it is being used as a way to make money from the "stupid money out there". All it is is just a way to transfer wealth around, nothing productive is created.

So go on manipulator, put your bid walls up, rob money from the suckers/fools who flamed me when I tried to help/warn them.

He pumped in a massive 100,000 bitcion in  bidwalls, temporarily ruining out dreams of a cheap and spendable bitcoin.

He seems to never want to give up.

This all happened in les than a half hour.

Before manipulator

Bid 1.8 25212.31
Bid 1.85 1949.45
Bid 1.9 12422.69
Bid 1.95 2773.57
Bid 2 2898.88
Ask 2.05 132.04
Ask 2.1 702.56
Ask 2.15 796.28
Ask 2.2 3334.99
Ask 2.25 3727.33
Ask 2.3 8284.11
Ask 2.35 2841.4
Ask 2.4 3593.7


After manipulator

Bid   1.8   28766.27
Bid   1.85   1934.13
Bid   1.9   5399.11
Bid   1.95   2691.57
Bid   2   33528.57
Bid   2.05   17787.54
Bid   2.1   20412.92
Bid   2.15   15180.71
Bid   2.2   5397.41
Bid   2.25   2176.57
Ask   2.3   7402.8
Ask   2.35   2774.25
Ask   2.4   3674.36

Some months back I was very bearish and mostly everybody on the forums was very bullish. They swore that bitcoins would never go to $2.00, or even lower than $10 for that matter.

So here we are, bitcoin dropped below $2.00 today. 

So what are the reasons that bitcoin dropped so much?

Anyone see what is going on right now. Manipulator is buying everything up. He moved his bidwall from 2.4. to 2.5. I just saw 20K volume increase and he is the highest bidder currently. He is manipulating on an unprecedented level right now. He may have bought well over 20,000 to 40,000 bitcoins in the past hour, as he is the higher bidder and volume has increased over 80,000 in the last hour or so.

This is all after someone dumped a huge amount of bit coins. He is in full panic mode right now trying to maintain the price because he probably has bought over 300,000-500,000 bitcoins since the drop from $30. I have never seen him in such a panic mode, he usually pull out his fake bidwalls. This time he is actually buying.

Pretty interesting to watch what is going on. Are there still people out there who don't see this as plain and simple price manipulation?

Currently his bid-wall is getting chewed down, and he is holding it up there. I wonder how long he will try and hold this up.

This AHOLE manipulator is the only thing holding bitcoins from falling into the $1.00 range.

All the classic sings that this mini rally is going to turn lower. Just like how it has done many times before. Price has been stagnant for a few days, volume is dropping, price is slowly creeping towards the resistance point.

Is this the rinse and repeat that the market manipulators are using to cash out money from many of you fools on here? Push the price up higher, sell a bunch at that higher price, let the price drop lower.

Is it a manipulator who is trying to protect his huge 100,000K Plus coin bitcoin investment and can't muscle propping up the whole market by his bid walls.

I do not know, but one thing looks almost certain, a reversal that will drop below $3.00, and start heading to the $2.00 resistance point.

[Bid 2.7 6683.69Bid 2.75 2568.1Bid 2.8 537.93]

Last nights bid order in RED, todays in blue. You can clearly see him reinforcing the bidwalls under the spot price with ove 5K walls. This bastard manipulator is ruining our dreams of cheap bitcoins. Someone has to sell into him to take him down.

You can also notice that he removed his 26,322 bidwall at 2.5, and seemed to have spread it around to the other .05 increments. This guy seems to be playing with a limited amount of bitcoins. Again, he needs to be stopped. Bitcoins should be cheap and affordable for everyone.

His strategy is to increase the bidwall under the spot price (about .05 lower) by around 5K bitcoins. He is trying to push the price higher, by manipulation, for his own monetary advantage.




Bid   2.1   778.5
Bid   2.15   2107.83
Bid   2.2   5060.48
Bid   2.25   3184.2
Bid   2.3   2480.02
Bid   2.35   2012.49
Bid   2.4   5923.39
Bid   2.45   5576.28
Bid   2.5   26322.9
Bid   2.55   2886.89
Bid   2.6   6318.72
Bid   2.65   7649.42
Bid   2.7   6683.69
Bid   2.75   2568.1
Bid   2.8   537.93


Bid   2.2   3206.44
Bid   2.25   3174.89
Bid   2.3   3352.13
Bid   2.35   1984.32
Bid   2.4   5667.52
Bid   2.45   4891.53
Bid   2.5   7052.89
Bid   2.55   3432.12
Bid   2.6   8232.7
Bid   2.65   7643.04
Bid   2.7   8682.27
Bid   2.75   6472.46
Bid   2.8   4255.54
Bid   2.85   689.34

Looks like he may be placing ask walls instead of bidwalls. He has given up on bitcoins, and cheap bitcoin owners who can't even help him keep the price above $3.00.

Guys are you kidding me, a 45,245 bitcoin buy wall. No this isn't manipulation by one person. This is just the average person all wanting to buy at $2.00.
This is not the manipulator who has been putting up these bid walls from the drop from $30. And has gotten so desperate now that he is trying to hold bitcoin from going under $2.00.

How anyone can deny the fact that this is manipulation on the grandest scale is just delusional. Any sane person who wanted to buy that many bitcoins would wait for the price to drop into the cents. He is putting up this bidwall to stop bitcoin from total capitulation below 2.00, which would put us under 1.00. This is called MANIPULATION. This is also most likely by 1 single individual who does not understand the economic term "sunk cost".

I wanted to start a poll to see how long you will wait before you consider to buy bitcoins?

So when bitcion was well over $15 or $20, I was saying I would buy bitcions when they hit around $2.00's, that is when I said it was a good long term investment.
Now that it hit that point, I do not even want to buy them. It seems that one thing consistant with bitcoin since it hit $30, was that it continues to drop.

Being one of the bigger bears about bitcoin, I am not sure now where the bottom is. Since I missed buying oil when it was $30, I was waiting for it to hit $20, I do not want to miss the bottom here.

Personally, I think I am going to wait this out for a long term stable price. I believe it should bottom out and stay at that price for a long time, like months, then it may gradually go up from there. But with gradual, I am saying, like 3-5% a year. Reason for saying this is that, 7,500 or so new bitcoins are coming to the market every day, this will have a stabalizing effect on bitcoin.

So I am going to sit this one out.

Remember, bitcoin always reaches its new lows, then it has a dead cat bounce. But the fact is that something like 50K-100K of bitcoins were sold to make it fall this low. These people now own these bitcoins. It only takes maybe 5K bitcoins to increase it back up a bit. However, 100,000 or so bitcoins are now sitting in these peoples pockets.
If they dump them they will make bitcoin fall further. They should also be less likely to buy future bitcoins, now that they own many of them.

If anyone has noticed that when the price drops fast, faster than the market manipulators can put in the phony bid walls. It usually shows just how weak the bitcoin market really is without the big players.

You can see that even with such a low price now in the $3.00 range, most of the increments have less than a thousand. Before long the manipulators will come into the market and inflate all these prices. I have noticed this from the drop of $30. This shows that most of the bids you see are just fluff. The 10,000 bidwall at 3.2 was just placed them from $4.00, as earlier the 3.2 mark was I believe under a thousand.

Most of you who are betting on prices going higher really have to take a look at just how weak the demand is for bitcoins. You guys buying thinknig the price will go higher are really betting on if the few big players (manipulators) will drive the price up higher. But after what I have seen today, where one of these manipulators fools put up a 30,000 bidwall, that looked to be totally sold into, I doubt that they will continue to try and shore up the bitcoin price. They have to realize most of the comptuer geeks into bitcoins are cheap, and will just mine their bitcoins and sit it out for the price to just go lower. They have to also realize that the early adaptors probably still have over 500,000 bitcoins that they are still looking to unload.

The end should be near, this whole bitcoin ponzi scheme should all come crashing down soon. Which is good because we can finally start to use bitcoin for fun purposes, like gambling and porn, instead of most of the fools hoarding them thinking they will be worth a small country in a few months.

One thing to note is that with these lower prices, the demand should be much higher. Also, the following prices are also somewhat manipulated already as I copied this late.

Bid   3.1   300
Bid   3.15   3.18
Bid   3.2   10713.1
Bid   3.25   1833.43
Bid   3.3   1664.33
Bid   3.35   127.81
Bid   3.4   584.55
Bid   3.45   104.93
Bid   3.5   2994.65
Bid   3.55   872.81
Bid   3.6   4903.03
Bid   3.65   3280.2
Bid   3.7   1394.52
Bid   3.75   436.13
Bid   3.8   2311.04
Bid   3.85   1397.43
Bid   3.9   1382.49
Bid   3.95   261.08

OK, I want to keep this post academic, so if you are here to flame just click away please. If you don't feel there is a manipulator also just click away I heard enough about how there is none. This is to discuss the possible strategy of a manipulator if one exists.

I would like try and discuss the strategy of the manipulator, here are some questions maybe some of you can give insight on.

Why does he put up Build walls at every .05 cents? Why not just put up one huge build wall.

Why does he just not buy bitcoins to force the price higher, why does he use bidwalls right below the price, usually setup every .05 cents within a dollar lower than the price. To me it seems that he is just trying to stabalize the price, then trying to make a quick buck. Do you think that people base their purchase on bitcoins by looking at the bid side demand?

Why does he pull out sometimes, and cause the price to plummit, when it looked like he bought so many bitcoins with his walls to try and maintain the price.

Why does he use bidwalls? Would it not be better to just not put in any bid orders, and just continue to buy on the spot or have a bot buy on the spot?

Is his intention to make a quick buck, or is it to stabalize the price and help the long term price of bitcoins?

These are just some questions to help along the topic of his strategy. These are things I have noticed from watching the bid order side of mt gox. pretty much from around $20 dollars to now. If you have any other ideas or insights about the his strategy please post.

Remember, If you come here to flame and start with the "There is no manipulator your a #%#*%#*," just click away please.

Bid   3.6   4923.06
Bid   3.65   1031.26
Bid   3.7     1499.11
Bid   3.75   527.34
Bid   3.8     2617.32
Bid   3.85   1389.09
Bid   3.9    6106.15
Bid   3.95   483.18
Bid   4      7292.03
Bid   4.05   6084.98
Bid   4.1    4490.52
Bid   4.15   2270.45
Bid   4.2    3741.56
Bid   4.25   2259.17
Bid   4.3    2147.02
Bid   4.35   1485.28
Bid   4.4    2678.29
Bid   4.45   1911.72
Bid   4.5    3167.15
Bid   4.55   530.19
Bid   4.6    998.17
Bid   4.65   149.93
Bid   4.7    2841.89
Bid   4.75   1180.95

Seems pretty high. If all these people really wanted so many bitcoins, why do they just not buy them at the current price?

Making this prediction based on the already many times bitcoins hit a low to bounce back higher, only to hit an even new low some short time into the future.
This must have happened like 10 to 20 times since we hit the 30 high. Since there is no shorting in the market, this process will probably keep repeating itself.

My recommendation would be if any of you are holding onto bitcoins to sell into this short term bounce. It already looks like it is losing steam and we should be pushing towards those new lows very shortly.

It also looks like the bid side of mt. gox is bloated once again. To me this means the usual price manipulator/bot, or what ever you want to call it, is bloating the bid side of mt. gox in an effort to make the price go higher. Every time he has done this he has always pulled out, exposing just how weak the bid side of mt gox is, while the price plummets into a new low. How he keeps doing this is beyond me because I keep seeing him losing lots of money and never being able to sell all those bitcoins he buys when his walls get sold into.

So if the past is any prediction of the future, and it already looks like this mini bounce/rally is losing steam,. I would be selling my bitcoins right now in a heartbeat. Once we go into the $5.00's, and people start to realize that we are probably heading down again, people will start unloading.

 

I moved some money over recently, and am wondering how safe my money is there? Could Mt. Gox just pull the plug and take my money with it?

The bid (buy) side of mt gox has increased 200%-500% or more since the last time I looked yesterday. Looks like he is not buying bitcoins at market but trying to make the bid side look like there are many people wanting to buy. This guy has bought many bitcoins with his manipulation and almost always has lost, due to the price not going as high as he intended

What does this mean?

He does not really buy bitcoins to push the value higher, he only buys them when the price gets lower. He triese to suck you into thinking that there is lots of demand and buying at higher prices is supported by many bid orders.

He has always pulled out of the market eventually causing the price to always go lower

Buying if the price goes much higher because of his manipulation is very risky. SO my recommendation would be to sell once the price goes higher and seems like it is stalling. We may see the price peak around $8.00 - $10.00 with his manipulation. If it hits this mark, SELL SELL SELL.

Learn to beat this manipulator, and profit from him and other morons who think that the price is going to the moon.

SO I would buy in the range right above his manipulation point of around $6.7-$7.2, hold, and sell once we stabalize around $8.00 to $10.00. Can make fast money. Make sure you watch the bid side and see that it is bloated.

EDIT: I bought in around the time I bought this below $7.00.

I must admit, bitcoin is holding up much better than I originally predicted. I thought it would freefall further and faster down into the $4 or $5's.

However, the price is finally pushing at the $8.00 mark.

For some reason I can not see the market depth, so I do not know how much of a bid wall is at that point. Can anyone else read the market depth on mt gox?

I was wondering what you guys think if we break though the $8.00 and head into the $7.00's. Will this be the final blow to confidence that will cause bitcoin price to fall much further?

My prediction is that a break into the $7's, will probably mean a new low below $5 range will be coming within the next week.

Please let me know what you think.

This looks very bad for bitcoin. This manipulator that I have spoken so much about, just read any of my previous posts, that has increased the bid side of Bitcoin by probably over 100,000-200,000 bitcoins during the last few weeks, has seemed to pulled out!

This is huge, there is totally no support. Last time he pulled out we had plumetted to $5 dollars in no time. There are almost no bid walls anymore. Before today every .10 cents was walled with 2,000 to 3,000 bid wall, now it is down to the hundreds (or what it normally is without the manipulator).

I am not sure what the heck is going on or why this manipulator decided to pull out. But like I have been saying, there was no way that he could keep a floor on the bitcoin price by buying all the bitcoins coming into the market. Eventually this manipulator will pull out and it seems that he has after taking severe losses today.

This could honestly be a really bad down turn coming. It may even reach new lows. I hope most of you have sold when it was in the $11's and $12's like I recommended.

Without this manipulator who seemed to be the sole reason to keep the bitcoin price high since the fall from $30's, bitcoin price will finally settle to its real market price of around $2.00 - $5.00.

I will probably buy bitcoins only when the price finally stablizes around those levels, and only when it is obvious that the manipulator is not in the market. I do not trust a bitcoin price that is based on this single manipulator, as always happens when he pulls out the price plummets.

Just read my past posts and all is like i have been saying.

I have been watching bitcoin for a while to get a feel before it starts to drop hard. Now, I know this is all speculation for the people who say nobody can really predict, but I am getting that feeling again.

The usual signs before a big drop are a stagnation in price for a couple days, then a slow decline where it can't seem to ever go higher. This has been happening for the last couple of days. Volume has also been low, which has happened in the past right before a large drop.

What I think happens is that the person who is putting in all those bid orders, trying to keep the price high, decides to pull out after he is taking on huge losses. His bid orders keep getting sold into and he realizes that he is the only person buying. He can not risk buying these huge bitcoins knowing that he will not be able to sell them. He then starts pulling out bid orders, probably starting from the highest price first. Then of course you see those crazy 10,000 bid walls just disappear as the price gets closer.

Well you probably get the idea.

Anyway, I feel a big drop coming soon. All the signs that happened before the last drops are there.

It will be interesting at this point to see how long the price can hold above $10.

I have noticed when the price dropped down to $5 that days before it looked like a major player or like I call market manipulator has pulled out. It looks like the past few days that he has come back and is trying to prop up the market again. He tried to pump the market into new short term highs buy buying late at night, and then he seems to be trying to hold the market in the double digits a bit over $10 to try and set a new psychological level.

I also determined this buy watching the amount of Bid's on the market, which was very low when he was out, now it seems to be higher now that he is back in.

It looks like he is not getting the success he wants, and it is obvious that he does not understand that you can not push bitcoin higher unless you expect to buy many of the coins that are being mined. I think this will lose steam and he will pull out again, and the prices should plummet again.

My recommendation would be to sell into this. This manipulation was not able to push the prices any higher than $10 dollars long term. It is starting to lose steam and there are already signs of it cracking.

If only I could short the market right now...