With the blocksize debate, IMHO, now is the time to accumulate. Though it would seem I'm doing it wrong myself. I should be setting buys around 150-200 range on a more reputable exchange and hoping they get filled when people close out of leveraged positions at Bitfinex instead of doing weekly buys.
You can bet the farm that some big player is just waiting to capitalize on the next person to cash out like this former whale who left Bitfinex. My guess, if I had to make one, is that they cashed out of their leveraged sell position first, which means that -- given what happened to the price temporarily last week -- there's a high likelihood Bitfinex really is operating as a traditional
bucket shop and betting against its own users. I don't know how any rational observer can possibly come to the conclusion that Bitfinex is anything but a bucket shop given what happened and the positions that were supposedly closed out of. It's a textbook response for the price to have fallen so much so far in such a short period of time. Bitfinex seems very much like Bitcoinica 2.0. Be wary.
Agree with you. Someone here had similar toughts:
Bitfinex could push prices down to $50. That is true. I believe that they are manipulating with order book in that way that they are putting hidden orders in it.
Actually, their primary business is NOT providing exchange, but manipulating the market by squeezing longs and shorts.
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