Bitcoin was a very slow and gradual fall. Buyers just dried up. They do not think bitcoins are worth that much obviously. I think it is good that bitcoins are cheap, we can finally start to use them instead of hoarding them.

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?

Does anyone know if all those last bidwalls were sold into or pulled out?

I'm looking at the bid depth now, it looks like he is pulling out except a few walls. This can be a really bad sign.
I notice that he pulls out after some of his bid walls he has put up have been sold into hard. Supposedly someone sold 18K coins into his bid walls, that really probably hurt him bad.
 It is always the same shit with this guy. He has been doing this shit so many times, and if you watch close enough you can clearly see it. That is why I am convinced.

I do not understand how anyone can deny that there is probably a manipulator int he market, and most likely a single individual.

I hope you guys are looking at the market depth on mt. gox. trade data.

When you see something like this that happens within an hour or so, and has happened multiple times with both adding and removing those bid orders, then there is no doubt that its a manipulator. Also it is proven that fake bid walls have always been put up and removed.

So look at the before and after, how can you explain those changes in numbers happening at ever .05 cents range. This all happens all so quickly. This is so obvious that someone is manipulating the market, trying to hold the prices stable. I wonder now if this individual was the reason why prices skyrockted up to $30 dollars.


BEFORE:
Bid   5.8   364.84
Bid   5.85   478
Bid   5.9   537.58
Bid   5.95   673.46
Bid   6   1020.74
Bid   6.05   722.89
Bid   6.1   585.42
Bid   6.15   170.63
Bid   6.2   2909.72
Bid   6.25   252.23
Bid   6.3   1084.7
Bid   6.35   722.51
Bid   6.4   427.88
Bid   6.45   677.62
Bid   6.5   0746.27
Bid   6.55   691.65

AFTER:

Bid   5.8   1864.84
Bid   5.85   378
Bid   5.9   2137.58
Bid   5.95   3273.46
Bid   6   7020.74
Bid   6.05   3122.89
Bid   6.1   3585.42
Bid   6.15   170.63
Bid   6.2   6909.72
Bid   6.25   1252.23
Bid   6.3   1084.7
Bid   6.35   1722.51
Bid   6.4   2827.88
Bid   6.45   1677.62
Bid   6.5   1746.27
Bid   6.55   4791.65

Hey Minsc:

I just sold my bitcoins also, I have noticed the same, it is looking very very bad.

Guys, I must admit I decided to sell my bitcoins. It looks like even with the manipulator back in, the downward pressure is so high that we are sure to fall. I sold out all my bitcoins, and made only $2.00 profit, lol.

Things are looking bad. Manipulation can not help the market much now. The negative sentiment is at an all time high. Most people seem to be bearish, while a month ago they were very optimistic

smoothie:

I think your dead right. I actually risked buying my first bitcoins below $7.00. I expected a short term rally because of the bid side of mt. gox got heavily inflated.

However, it looks like that is not able to cause a short term rally. I think I may put in a stop-loss on my bitcoins, because we are heading down.

This looks really bad.

I bought in earlier today at 6.8. My first bitcoins. This manipulator better stick in there until I can dumb them over $8.00.

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 have to decide my buy in point, I am thinking around $2.00 I will start to buy bitcoins. However, I risk catching a falling knife and even at that price i am worried.

Best would be to wait it out and see the longer term stable price.

It looks like bitcoin is going no-where, at if bitcoin prices start falling, other online currencies may just take its place. I personally would like a currency that has much more bitcoins then 21 million. I think the problem with bitcoin is that they are priced to high individually.

You guys really need a rude awakening. How much money will you lose before you guys realize that bitcoins have no use / purpose and you are gambling with something that has increasing supply for years to come.

I just wonder how much a beating you guys will get and how far it will go down before you guys get that rude awakening.

However, I can see you saying "its 2.00 right now" we are rallying!

I think many of you fail to realize that there is no reason the price should be where it is now or higher. You can not change the fact that there are still many more coins being mined everyday than potential buyers of those coins. There is no reason to own or use bitcoins other than to speculate.

Really the price is super high right now for what bitcoins are.

I think it is such a gamble to think bitcoins will go higher with all the new bitcions being created everyday.

this is my opinion.

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.

It could really go low this time. It was low before the conference rally. people were making huge bets that the conference would make bitcoin rally with all the media attention. However, I do not think it got much of any media coverage. Some bit market player really stepped in before this rally, pumping the bid side of bitcoin up around 200% or more in a few hours. He did not actually buy bitcoins just put in a bunch of bid orders making it look like the demand side was huge.

Well, conference ended, the rally ended, and the selling began. It wiped out major bid walls of 10,000 or more bitcoins with relative ease. In no time the bid order side went down like 200%, probably the investor who pumped it up 200%, pulled out, leaving a few bid walls in place.

Those got sold into with ease. They always do, as bit investors can cash into those bid walls without dropped the price much.

Prime plummeted to the $7's. Not much support left. It is looking very bad. Market sentiment is really bad, most people think on this thread alone we are heading for the $5's or $6's, and why not, it was there just a few weeks ago.

This is no joke anymore, Bitcoin price is reaching new lows every day. The inevitable drop is still on. How much longer can the market get hit without the manipulator putting in his floor and getting back in? The higher psychological bitcoin price level is getting pounded. Nobody will buy bitcions for more than $10 dollars when it always just drops right back down.

Everything I said seems to be happening. Only if you are delusional will you think otherwise. Does it matter if a bunch of miners think their bitcoins are worth $50??? I do not own 1 bitcoin, never have. Do I really care if a miner thinks his bitcoins are worth $50 dollars each? Do any other buyers out there think it matters if they are worth $50 dollars each. NO! If no buyers think they are worth it, well they are not worth $50 dollars. I think all my baseball cards are worth $50,000,000 each, so do many other people, does that mean there is a buyer who would pay that?

THIS IS HUGE. You were warned to sell at $11.

REMEMBER, every time the bitcoin hit a new low, it always rebounded higher, to shortly after always hit an even NEWER LOW!!!

If this same pattern holds true, expect bitcoins to fall below $5.00. THIS IS HUGE!!!!!!!!!!!! You people really have no idea the true value of bitcoins because the price has been manipulated so damn much!

Yes there are many buyers holding out, there will always be buyers holding out!!!!!! just like in stocks when the price drops close to 0. Crap, I own 3DFX stock still LOL, I thought it was worth much more, so did many other holders of 3dFX stock. Does it matter that I think or thought it was worth more, or the majority of 3DFX stockholders who held onto their investment. IT DOES NOT MATTER. The market price seems to be set by the 5%-15% of market holders, not the majority!!!!!!!!!

SELL YOUR BITCOINS While the price is still high. If this manipulator does not come back in anytime soon you will lose lots of money! Keep checking the bid side of bitcoins! use common sense. Do not listen to the people here who hold bitcoins thinking they will get to $50. Cut your losses right now before it is to late.

Is this not the speculation area of the forum? I am speculating that the price is going to fall and using hard facts like the bid side on mt. gox. losing 100,000 of bid orders in only a few hours. The price has also sunk from 11's all the way into the 9's.

This is huge, why would you want to delete posts like this?

I watch the bid order side on mt. gox multiple times a day. What I am seeing is a huge pullout.

But this is the speculation part of the forum, I always back up my claims with as much information as possible, I see no reason why a moderator would want to delete this unless you guys want to hide the fact that things are looking very very bad if you currently own bitcoins.

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.

It is good that people are finally seeing the obvious market manipulation that I have been speaking about for so long now. It is obvious as ever when all of a sudden the bid side of mt gox. was increased by like 100%. Like I stated before, when we dropped to $5 dollars the bid side of mt gox. dropped by a large amount also.

The only reason anyone would try and prop the market up is because they hold a shit load of bitcoins and think they can increase value by trying to set a floor on the price.

I do not see how it can work long term as miners keep selling. Already it seems the price is falling to these floors. The only reason this person is holding in so long is that there is nobody selling huge amounts of bitcoins into these bid walls.

When this last manipulator pulled out of the market, the price of bitcoins fell to $5 dollars. What made him pull out was some individual was selling huge amounts of bitcoins into his bid walls. So this person had to buy thousands of bitcoins, and his walls were being sold into by someone. Seems like this peson who sold into these bid walls is not doing it now, so this person is back trying to set a new floor on bitcoins.

With a fake floor in place, miners should be selling their bitcoins into this because I can not see it holding for the long run.