Pump & Dump Trap! Don't get trapped!

[bitowl]

Hey Talk, I was wondering if you could tell to us what you think a "pump and dump" is? Can you explain the process please?

I assume he means whales come in and start buying to try to "foment" an upward price movement. If at anytime the price naturally starts to fall, they come in again and buy more to keep the price from dropping. Everyone then believes this is a natural upward trend, ie "we'll be at $400 by thursday!!" type posts, which adds to the upward trend. Then the whale acts, dumping a huge amount of bitcoins in a market order, profiting immensely and sparking a massive sell off which causes all the rubes who bought in to lose value.

This type of activity is illegal on wall street (because it works) but the big players do it anyway. They just make sure to always have an excuse if the SEC is pressured to investigate (their natural state is not to investigate since they're all working together to fleece the public).

[Wilhelm]

From what I have seen the price goes up when there is a good reason.

I am still waiting for someone to tell me what the good reason is this time.

Terrorists are buying weapons with Bitcoin...

Governments are paying counter terrorists with Bitcoin....

[alani123]

I was thinking of selling some BTC today after the price rise and re-buy if it drops.

[Wilhelm]

I was thinking of selling some BTC today after the price rise and re-buy if it drops.

Yet you fear the rise of Bitcoin

[Mickeyb]

I was thinking of selling some BTC today after the price rise and re-buy if it drops.

I wouldn't do it mate, you never know when this thing can take off! Then again maybe that's why I never made much money on day trading! I just don't have balls to do it!

[talks_cheep]

I was thinking of selling some BTC today after the price rise and re-buy if it drops.

You should have done it. As I predicted, it was a Pump-n-Dump. Price dropped to 353, recovered a bit currently at 360. We will see bigger drops in the coming days. LOL

[talks_cheep]

More drops as predicted. We are in the full DUMP PHASE. Sometimes, I hate being right.

[newcoins1978]

Sharp eye. The price will go down since the pump is over. The action we see is again some first class market manipulation.
Waiting for new believers to step in, and dump some coins on them.

[glendall]

Any guesses on the bottom?

[Piltover]

Sharp eye. The price will go down since the pump is over. The action we see is again some first class market manipulation.
Waiting for new believers to step in, and dump some coins on them.

Thanks for the heads up.

I am new here and to me this scemes are hard to see. What would be a safe price to buy?

[talks_cheep]

The price rise was inorganic, i.e., there were no good reasons for the rise. Some people claimed there doesn't have to be any reason for the price to move suddenly, just a "natural" function of exchanges and markets. The problem is, if this happened at NYSE, there WOULD be an investigation. It wasn't even natural, it was so contrived from the get-go. Why nobody else saw it? I think everyone else was too busy cheering along with the Pumper as the price rose.

What is the bottom? Probably around 340.

What is the safe price to buy? Probably around 340-350.

I can tell you right now that come Feb/March'2016, we will see $1000+ due to the halfing event in July'2016.

[Amph]

Any guesses on the bottom?

328, i'm fairly sure the market is following the same pattern but with a 3xx instead of a 2xx, i'm expecting another increase toward 380 in december

[Karartma1]

Any guesses on the bottom?

328, i'm fairly sure the market is following the same pattern but with a 3xx instead of a 2xx, i'm expecting another increase toward 380 in december

I had the same thoughts as you. If that price will be broken we are seriously going down to 300$ maybe lower. But Bitcoin price then can not go lower than that because than we will see huge buys at discount; in these days we saw how easy it is for the price to spike though.

[Mickeyb]

Any guesses on the bottom?

328, i'm fairly sure the market is following the same pattern but with a 3xx instead of a 2xx, i'm expecting another increase toward 380 in december

I had the same thoughts as you. If that price will be broken we are seriously going down to 300$ maybe lower. But Bitcoin price then can not go lower than that because than we will see huge buys at discount; in these days we saw how easy it is for the price to spike though.

I don't think we will go this low. I honestly think that the current low of about $350 is low as we will get!

[Denker]

Any guesses on the bottom?

Hard to guess.
But I think lowest would be something in 320s.
As long as we stay above 300 I'm fine.
See it as an opportunity to buy some more BTC.

[pissedoff]

The bitcoin price has been stable around ~$350 in the past few days. I don't see any Pump and Dump trap.

[uki]

Any guesses on the bottom?

328, i'm fairly sure the market is following the same pattern but with a 3xx instead of a 2xx, i'm expecting another increase toward 380 in december

I think we may get to the low $300, with pretty high chances for that to happen. It looks like we keep moving sideways, around $350, not exceeding $50-wide band in each direction.

[RodeoX]

Sharp eye. The price will go down since the pump is over. The action we see is again some first class market manipulation.
Waiting for new believers to step in, and dump some coins on them.

Thanks for the heads up.

I am new here and to me this scemes are hard to see. What would be a safe price to buy?

Since you are new to this here is a tip. Despite the constant stream of guesses about future price. No one knows anything more than you do about what will happen. You can broadly guess that the price will rise or fall, but you are just guessing. The people who I know who have done well with bitcoin do their own homework and never ask someone about the price. That is just hope.
If only it were as simple as asking the right person.  

[bearex]

I dont think it is, because the volume is the same as for the past days, so no major dumping is happening (nor pumping)

[SimpleBuyer]

Sharp eye. The price will go down since the pump is over. The action we see is again some first class market manipulation.
Waiting for new believers to step in, and dump some coins on them.

Thanks for the heads up.

I am new here and to me this scemes are hard to see. What would be a safe price to buy?

Since you are new to this here is a tip. Despite the constant stream of guesses about future price. No one knows anything more than you do about what will happen. You can broadly guess that the price will rise or fall, but you are just guessing. The people who I know who have done well with bitcoin do their own homework and never ask someone about the price. That is just hope.
If only it were as simple as asking the right person.  

+1
There are threads with polls which are the complete opposite of the majority votes. No one knows for sure.