Now that we broke into the 3's, expect a small rebound before we start heading towards the $2's.

New psychological level is now set at 3's.

Will not be long before we are back into the 2's.

I am so happy about the manipualtor who finally decided to start the ball rolling and sell the other asshole manipulator out who was trying to keep that price floor in place.

Loving every minute of it. Kind of got sick of hearing all you optimists since we sprang up from $2.

I think that we will bottom pretty low and stay there. NO way it will be an easy going quick bottom and back to again. Manipulators can't make money like that if it was the case.

I am loving it, no manipulators to bail any of you suckers out. Who ever was stupid enough not to sell their bitcoins deserves the huge losses they will be taking.

Forget SELL SELL SELL

SHORT SHORT SHORT.

I am going to start looking into bitcoinica

The slow steady sell pressure is still going as I predicted. We should slowly fall into the 3's.

Still no major player has stepped up and is trying to turn this around.

Now the market is basically run by the average joe, this means prices will start reaching their proper price level of around $1 or $2 dollars.

When the price is falling and someone puts in 50K bitcoin bidwall to stop the price from falling that is manipulation to me.

If they wanted to buy bitcoins why the 50K bidwall right bellow the falling price, why not let it fall further and buy bitcoins cheaper?

Its all manipulation.

oldminer, I am surprised that you finally see the truth about bitcoin prices. I remember you used to be very bullish.

There was not a $5.6 wall. $5.6 seemed to be the price that it hovered around, or when it dropped below that price it was quickly back up at that price.

When the selling pressure happened a couple of days ago, most of the bidwalls came up around $5.2. The manipulator even had a 50K bidwall at one time, then he split it up into smaller 20K bidwalls around 5.1 and 5.2.

Your right, but I did say to put in a stop loss. It was a safe bet at that point because there did seem to be a price floor. They did try and stop the halt with 100,000's of bitcoins. But I did not think another manipulator would be bigger and be able to actually sell through that price floor.

But your right, seems to be two manipulators right now.

But that was a safe bet, with trying to catch any upwards movement knowing that you did have some kind of a price floor.

Anyway, this should even be more reason for my prediction about falling into the 3's. If there is another market manipulator with enough money to push through that $5.6 floor, and he also used alot of money to get through it as we saw the high volume. This is more reason to know that he will be pushing the price even lower.

I have watched these bitcoins drops so many times already. They always play out the same way.

The bitcoin buyer manipulator who throws in his 30,000-50,000 bidwalls in an attempt to stop the price fall has pretty much been out of the picture. His attemps happened two days ago when he tried to stop a fall from going below $5.00 by throwing up his 50K bidwalls. His 50K bidwalls were sold into.
From watching the numerous past bitcoin drops he usually stays out of the game after his 50K bidwalls get taken down. I am not sure why he does this, but he will not be back into the game until we go significantly lower. Last time he stayed out of the game until we dropped into LOW 2's.

We broke out to $4.2 today, the people in the know are dumping their coins. They have sold and dumped and will wait to we get much lower to start buying again. They did not sell their coins now, to start buying them back right now. They are smart, they will wait until we are much lower to buy back.

There is no market manipulator trying to put in huge 15K-50K bidwalls right now. Bid demand is very weak. Take a look for yourself. It looks like the only serious bidwall is all the way at $3.6. Nobody is trying to halt the drop of bitcoins right now.

We going to be going down pretty low. But who said we should have been as high as we were. Remember, bitcoins were almost at $1 just a month or so ago.  

What I think is happening is the price stagnated for so long that some market players decided it was time to push the bitcoin price back down. remember, volume was very lower before this drop, reaching sometimes only 20K a day.
This may be a rinse and repeat strategy by the big money. They pushed the price up, dumped, and now there is no market movement up anymore, they will push the price back down. Buy low, repeat, and push the price back up. It was obvious that someone was trying to push the price lower for a few days now and finally broke through.


Bid 3.6 12372.94
Bid 3.65 6870.15
Bid 3.7 2233.72
Bid 3.75 1283.81
Bid 3.8 1244.09
Bid 3.85 3915.88
Bid 3.9 2073.76
Bid 3.95 897.27
Bid 4 8775.07
Bid 4.05 3737.85
Bid 4.1 4884.19
Bid 4.15 2246.68
Bid 4.2 4387.08
Bid 4.25 2336.11
Bid 4.3 3290.96
Bid 4.35 522.77
Bid 4.4 3032.33
Bid 4.45 2704.86
Bid 4.5 2575.17
Bid 4.55 1346.39
Bid 4.6 396.41


Edit: someone made a point below saying that my advice should not be taken seriously because of some other prediction I said. Well he has a point in that, being that there was an obvious price floor at around $5.6, and being that it was well defended at that point. Also being that someone was able to completly sell through that price floor, using 100,000's of bitcoins to do so and was able to get through. This should be more to my point that this person intends the price to be going much lower and has the coins to sell through any resistence or manipulators trying to stop him.
We are going down pretty hard.

Don't know if this is sarcastic or not, but if it is serious.

high five for people who bought bitcoins on the way down? yeah how happy are they when they bought thousands of bitcoins at $5 and the price is now $2 or $3 dollars.
The only way you should be giving them high 5's if you sold them your bitcoins at high 5's.

How happy will they be when their huge investment is worth half the amount they paid for them on the way down.

nothing serious? Tradehill decided to shut down because of banking troubles. What is not to say Mtgox would suffer the safe fate? If Mtgox, went down that would pretty much cause bitcoin price to crash.

It is just a matter of time before mt gox has problems. Surprised they are still able to use Dwolla.

Agreed.

This is what I expect to happen. I am base this on my past experiences.

We broke the $5.00 barrier, the next psychological level will be in the $4's.

It will linger in the High 4's, maybe even reach up into the 5's again, then we will slowly push to mid 4's, low 4's and then into the 3's. This could all happen very fast. Remember it spiked up from $2 fast, it will go down just as fast.

I think $2 bitcoins will surely be in our future.

Just a matter of time before the people pushing the price down get ready for another sell attack.

One thing I have learned from bitcoins and I have been saying this for a while now is no matter how much you think bitcoins reached bottom and will not go lower, it has always gone lower and will go lower.

Probably the grand strategy of rinse and repeat, and using bid walls. Many suckers out there to rob their money thinking that bitcoins price is going to the moon. Just think of all the optimism when we spiked up from $2.00, many of those people are probably still long. Their loss will be the manipulators gain.

lol,

I don't think it is a bear trap, the price has been taking a beating for weeks now. Finally someone was able to break through some of the manipulators walls and attemps at trying to hold the price stable.

All classic signs we will be going lower very soon. Someone is invested in the price falling, and it will continue.

HOLY SHIT FUCKING PANIC SELL

I couldn't sell my fucking bitcoins fast enough. I took a bit of a fucking loss.

Stupid fucking mt. gox does not have a stop loss, where I would have sold my coins before the $5.00 wall was broke.

That was intense selling those coins.

Well I gambled. I had my chance to sell above $5.2 all day today. And had my chance to sell at $5.1 just before the drop and my warning.

Now I have a fucking bit coin loss.

I knew better than to hold them, but held them like an idiot. Just look at my last posts when I said multiple times I was selling,

shit, anyone know if you can do a stop loss on Mt Gox?