It seems that the daily ichimoku cloud isn't ready to be penetrated yet. There might be another small rally before it finally happens in July.

4 old sources. Nothing new.

It looks like the diehard bitfinex traders are just keep taking more and more margin positions, until they all get liquidated somehow.

Bitfinex currently has the highest volume of USD exchanges and offers 2.5:1 margin. The interest can get high on long positions but if you're just daytrading then it doesn't matter. Bitfinex also offers trading of litecoin and darkcoin (though the volume is low). However, there may be other factors you want consider before deciding to trade there. I cannot vouch for the trustworthiness of the exchange nor can I vouch for the trustworthiness of any other exchange. I actually wouldn't recommend daytrading at all on any exchange these days because the volume and volatility are so low that it is difficult as well as not worth the risks.

I'm not suggesting that any of those things are true;  I'm suggesting that those types of thoughts have affected the sentiment of buyers. The average investor is very irrational and emotional, and would think that type of thing. See my use of quotation marks in the post.

You are the one trolling. This topic has no price prediction attached to it so what does it have to do with 'bear'?

That's a different topic. My point is that the reporter is representing information as if it is new when it is not new and there is no evidence of it being new.

I didn't say that they should.

Selling? I see a lack of buying. I dont see selling. Look at the volume.

There is no source for the early July target being 'news' - This is simply based on what Lawsky said in March. Since then, there has been no public information about advancements with the regulations at all.

Actually the selling pressure is not strong. There is a lack of buying pressure. Stamp and finex each have 10K volume and btce has 5K volume. These volume levels are very low. It is more of a reflection of a loss of faith by investors.

You know what - I'm not 100% sure. My apologies if it is incorrect. Whatever the total amount is, it is much bigger than 30K. I seem to recall hearing 'The government now owns 5% of bitcoins' somewhere.

Nobody is participating in an international market manipulation conspiracy (which might not even be profitable) so that they can acquire 3,000*[1-9] bitcoins from the U.S. Marshall for their investment firm.

140,000 is just the site wallet for silkroad users.  Then there is Ross's 400k and about 400k from that dealer which occured more recently.

The dumping is not really that bad actually. It is the lack of buying which is causing the decrease. Stamp and finex each have about 10k volume and btce has 5k...

What is the purpose of articles where 'the author speculates something could occur based on news from 2 months ago"?  I already have the information and I can do my own speculation. I don't need to speculate based on other people's speculations and create a double speculation loop.

There are silkroad's coins, Ross's personal coins, and also the coins from some other dealer they arrested. It actually might be much more than 500k. Maybe 1M.

Is there actually any new information here or are they just summarizing what occured in March-April and what the author hopes for?

Everywhere I look I keep hearing people complaining about the price and blaming the auction and the auction only, and thinking that everything hinges on what price the coins are sold at. It is silly.

Right before the descent in early June, there were not one but THREE significant news events - it wasn't just the auction. There was also an article released in China by central bankers of how they were going to keep track of and close down accounts that were being used for recharge codes.  After that there was GHash.io reaching 51%. There are even aspects of the auction itself which are more significant than the coins themselves being sold. I'll explain each of these:

1. China: There was news about further crackdowns on deposit methods to Chinese exchanges including recharge codes. Now, I don't care how many times people try to dismiss China or call it 'FUD' - China is very significant. China is the world's most populated country with 20% of the worlds population, is one of the world's largest economies, and most importantly it contains the world's largest shadow currency trading market where high rollers throw around trillions of dollars on a regular basis to gamble on shadow currencies (mostly BANs - notes from banks). It is also happens to contain half of Bitcoin's exchanges which appears to do 5-10 times as much volume as the other half. There are some questions about the legitimacy of the volume but a safe guess is that the legitimate volume should be at least as much as the 'west', which is still highly significant. You can't just take something involving at least half of Bitcoin's trading economy and dismiss it. Any news about China is going to be very important for Bitcoin (in the short term at least) whether you like it or not. At the very least, it is much more significant than the auction.

2. GHash: The pool reached 51% for the first time and nothing was done about it for a while until a big player finally voluntarily pulled some power out of it.  This raised questions about the viability of Bitcoin and the nature of the community and caused some major players to become bearish. Some whales decided they were going to sell half of their holdings. The amount of bitcoins being dumped over this probably trumps the 30K bitcoins being sold at the auction. In addition, future investors have become somewhat dissuaded and there will be some degree less new investment in the future. All in all, it is a much more significant event than the auction.

3. The Auction. Even within the auction itself there are more significant things to consider than the 30k coins themselves being sold and their effect on the market.  Anything involving the government doing something adverse leaves a bearish taste in investors. "Why is the government selling? Has the government become bearish on Bitcoin?"
- "What does the government know that we don't? Have they found some exploit in the protocol? Have they run some study and found that there is no way technically or economically that bitcoin could possibly work?"
- "Has the NSA broken EC already but it is top secret?"
- "Does the government plan on banning Bitcoin?"
- "Are they going to dump their other 500,000 coins?
I'm not saying any of those are true but it might be what is running through certain people's heads which would account for a reduction in new investment which is more significant than the coins themselves being sold.

I understand many of you may object to some, or many, or all of these points, and that is fine... Maybe none of these things are really that significant in the long run. However, that is not my point. They don't have to be that important - just more important than the auction. My entire point is that there are many things that have occured lately that are much more important than the impact of 30K coins hitting that market and at what price these 30K coins are going to be bought. This is an inisificant matter and something like that wouldn't have caused a downward slide this severe and this long. 30K coins are... a mere 0.22% of coins - it is nothing. Get over it. Please stop talking about those coins.

I used to think that all of Bitcoin's tops and bottoms were predetermined, but when was watching the crash at $340 (which seemed to just be getting started), and then suddenly I see the most random and largest bullish engulfing candle ever seen in my life come out of nowhere, and I find out it was seconds-minutes after a Chinese news article was released, I had to reconsider.