bear trap

[chaoman]

you have been warned.

[ragi]

Pump and dump. The old record.

[spiderbrain]

shh, you're not supposed to warn people about traps.

[alex0909]

That's what i thought also. Everyone knows greeks are not the ones who bought Bitcoin recently.

Price moved maybe a bit because of what happened in Greece, but obvious manipulation is obvious.

I don't know what to think of it yet, but we will know soon enough. All the sell orders in the 280$ level are not making us drop, we had around 5-6k btc dumped in small increments of 100-200 BTC.

It's easy for the manipulator, he dumps 4k btc in one shot, sets his bot to buy all the coins in the 280-285$ area, when price recovers a bit, re-dump.. Easy Money.

[spiderbrain]

Yeah, I think this was mostly the end of the bear trend triggered by the idea of Greece, plus a little hot money fleeing the Chinese stock market. Now we wobble sideways for a few months.

[TheRealistMassiah1]

I've heard bears in the forest can't read warnings so even if you posted a gigantic "Beware of EXTRA LARGE BEAR TRAP" above the bear trap ... the bear still gets caught =/

 ...but sometimes the bear trap is crap and the bear gets the food and walks away without any injuries and is rewarded for the risk ...


Additional note: response to spider brain you have the right idea, pumped on false belief that Greece would defect to "bitcoin" (no chance in hell that could have ever happened) and china looking to reward their money in an investment other than the dwindling/failing Chinese stock market

Life lesson: "no such thing as a Bear Trap Warning"

[spiderbrain]

Additional note: response to spider brain you have the right idea, pumped on false belief that Greece would defect to "bitcoin" (no chance in hell that could have ever happened) and china looking to reward their money in an investment other than the dwindling/failing Chinese stock market

No sensible person should have thought that the Greek government was going to adopt bitcoin, they need to be able to create money, and bitcoin would not help with that. I do think it's a great option for everyday Greek people, though, who are still at risk of their digital money in insolvent banks vanishing overnight!

[Fiat_Hodler]

Actually I would think that if it was a pump the entities pumping the price might not have dumped in time after the greece news. They might be shitting themselves and are now stuck holding tens of thousands of bitcoins (possibly on leverage).

[TheRealistMassiah1]

Additional note: response to spider brain you have the right idea, pumped on false belief that Greece would defect to "bitcoin" (no chance in hell that could have ever happened) and china looking to reward their money in an investment other than the dwindling/failing Chinese stock market

No sensible person should have thought that the Greek government was going to adopt bitcoin, they need to be able to create money, and bitcoin would not help with that. I do think it's a great option for everyday Greek people, though, who are still at risk of their digital money in insolvent banks vanishing overnight!

It is thanks to the fact they are in the Euro that they still have an economy and a government. If it were anything like the situation in Zimbabwe , argentina , germany etc etc it would have been disastrous of an outcome... And bitcoin is a m3 level of money , it acts as an "account/commodity" which is not a liquid asset by current means.. However the current pumped bull run was on the "ropes" of a "grexit" by what ever false rationalization of such a scenario ... and yah their money stored in Greek banks are exactly that just digital numbers for now until the full Greek Resolution takes into effect.

additional note: I also posted this little opinion on the situation in another thread

There was no way that bitcoin price should of been correlated to the "Grexit" ... That is an irrational and illogical reasoning to how Greece can send bitcoin plummeting $15-$20. When Greece's GDP and bitcoin availability is not that well established. So no clue why there is a rationality or logical correlation to "Grexit" and bitcoin price but I guess someone has been able to take advantage of it.

Also to the guy below me with his extra large and remarkably hilarious chart, I think the last pump to $1200 was due to Willy bot and various other bull run factors that were horendously orchestrated to become what is the value of $280 per bitcoin is today .... Bitcoin has already gone through all those stages and we are in the grieving stage(despair) and grasping for optimism right now .

[Wolf Rainer]

 

[Meuh6879]

missed ... 

[Amph]

 

not really that bear trap look much bigger than a $25 bear trap, which is a joke, no way we are there we are still at "return to the main" point and we are still far away from take off

[TheRealistMassiah1]

Additional note: response to spider brain you have the right idea, pumped on false belief that Greece would defect to "bitcoin" (no chance in hell that could have ever happened) and china looking to reward their money in an investment other than the dwindling/failing Chinese stock market

No sensible person should have thought that the Greek government was going to adopt bitcoin, they need to be able to create money, and bitcoin would not help with that. I do think it's a great option for everyday Greek people, though, who are still at risk of their digital money in insolvent banks vanishing overnight!

It is thanks to the fact they are in the Euro that they still have an economy and a government. If it were anything like the situation in Zimbabwe , argentina , germany etc etc it would have been disastrous of an outcome... And bitcoin is a m3 level of money , it acts as an "account/commodity" which is not a liquid asset by current means.. However the current pumped bull run was on the "ropes" of a "grexit" by what ever false rationalization of such a scenario ... and yah their money stored in Greek banks are exactly that just digital numbers for now until the full Greek Resolution takes into effect.

additional note: I also posted this little opinion on the situation in another thread

There was no way that bitcoin price should of been correlated to the "Grexit" ... That is an irrational and illogical reasoning to how Greece can send bitcoin plummeting $15-$20. When Greece's GDP and bitcoin availability is not that well established. So no clue why there is a rationality or logical correlation to "Grexit" and bitcoin price but I guess someone has been able to take advantage of it.

Also to the guy below me with his extra large and remarkably hilarious chart, I think the last pump to $1200 was due to Willy bot and various other bull run factors that were horendously orchestrated to become what is the value of $280 per bitcoin is today .... Bitcoin has already gone through all those stages and we are in the grieving stage(despair) and grasping for optimism right now .

Since 2 extra charts were posted, I enjoy your chart lols Meuh6879 ... thats what happens when a non correlative event in the "Euro Markets" sends bitcoin tumbling $15 -$20... when it should have never happened in the first place LOLS ...

Also bitcoin has already gone through the inital and growth phases and bubbling phases of your chart btw Wolf Rainer so we are not at an initial starting point again like Amph has pointed out ....

Side note: This "non correlative event": Was the to be accepted Greek Resolution.

[CarlesPuyol]

 

We already have passed the mania phase!
I cant see bitcoin rise again to 1000+
We will see some pump and dumps in the range of 250-500 and thats all

[spazzdla]

 

We already have passed the mania phase!
I cant see bitcoin rise again to 1000+
We will see some pump and dumps in the range of 250-500 and thats all

This graph will conitnue to repeat it's self.. probably 3 more times.