Hmmm. Something interesting happened last night

[Cryddit]

Somebody dumped a shitload of coins on the market last night....  Anybody care to speculate about whether it means something?  

http://bitcoincharts.com/charts/bitstampUSD#rg1zczsg2015-04-13zeg2015-04-14ztgSzm1g10zm2g25zv

[metrin]

its not interesting, its scary 
bitcoin crashed more then 6% in last 24 hours
such dumps are preventing bitcoin to rise

[bigbitmine]

its not interesting, its scary 
bitcoin crashed more then 6% in last 24 hours
such dumps are preventing bitcoin to rise

It hurts the value but those of us that are stockpiling will cash out at some point.  When I cash out I'm doing it in stages.  I don't trust the exchanges enough to cash out in a single transaction.

[randy8777]

it will be interesting to see whether the $200 mark will hold this month. i don't think it will get dumped below $200 but with bitcoin you just never know.

[pattu1]

After stability for 3-4 days. woke up to find a sharp drop in the value of bitcoin.
Hope it is not the beginning of another downtrend. 

[Mikestang]

Yup, I think everyone noticed the big drop this morning.  I hope network difficulty follows suit.

[mrhelpful]

it could be desperate times for some? I mean its either that or some emergency that they needed funds from somewhere, I wouldnt see any other reason to dump a lot of coins like that.

Unless they are just tired of the the up and down scene with prices, who knows.

[mrhelpful]

its not interesting, its scary 
bitcoin crashed more then 6% in last 24 hours
such dumps are preventing bitcoin to rise

It hurts the value but those of us that are stockpiling will cash out at some point.  When I cash out I'm doing it in stages.  I don't trust the exchanges enough to cash out in a single transaction.

Thats pretty smart. I do it stages as well, but I dont have a huge lump sum like some people do.

But, no one should trust an exchange seriously lol. You never know if it`ll go under, and its way better to break up the increments sell anyways since the price move at any given point.

[merve10495]

Somebody dumped a shitload of coins on the market last night

Serious question.
Where do people dump these coins?

[bitkilo]

Be interesting times if we see sub $200 prices this week, my guess is that this could be coming from one of the whales who just love shorting this market, just a guess.

Somebody dumped a shitload of coins on the market last night

Serious question.
Where do people dump these coins?

I imagine its where the link takes you- Bitstamp, or you can dump on any btc exchange.

[techgeek]

I dont get why anyone would dump a large amount of coins.

Its possible that its a whale more then likely to see a price reaction? to get the coin way cheaper?

[pattu1]

Somebody dumped a shitload of coins on the market last night

Serious question.
Where do people dump these coins?

Especially when they can make more money by selling these coins slowly.
It is a very bad trading strategy, if you ask me.

[flipstyle]

I dont get why anyone would dump a large amount of coins.

Its possible that its a whale more then likely to see a price reaction? to get the coin way cheaper?

You're forgetting that there are still a lot of people that got in very early when prices were still in the single digits or even below.

Them selling large sums at the 2xx price point still means astronomical profit margins, and they don't have to deal with the headache of checking
daily charts to maximize their returns.  In other words, they don't let greed defeat them.

[Amph]

a whales that entered in panic selling mode? they aren't certainly immune from it

another guess could be miner with free electricity and roi achieved(they have nothing too lose and those are the worse, becuase they can keep dumping until 1) that was accumulating those coins for many months

this dump show how it easy to tank bitcoin price, bitcoin is too easy to manipulate....

[Fabrizio89]

People are capitulating. They fear a repeat of the dumps we had until now so a new low, which is becoming pretty probable at this point, these dumps are a bit slow if compared to other ones we had, this suggests we still didn't have the panic we need for a strong bounce. Stronger hands or fearful people?

[srgkrgkj]

A strong bounce is what we need now ! weve been bouncing into lower price ranges for far too long ! :O

[pat1900]

How many shop owners have you pestered today about accepting Bitcoin?
If the answer is none, please stop weeping and wailing.

[yayayo]

I don't think that 2-3K of Bitcoin are a "shitload"... we've seen bigger volume. Also, I don't think this means anything more than someone selling 2-3K Bitcoin.

Before Bitcoin can rise again, the majority of trader-type investors that only buy Bitcoin for USD profits need to be washed out of the market. It's possible that we see new lows in the process.

Meanwhile Bitcoin fundamentalists continue to hodl.

Edit: You should use Bitfinex when referring to volumes. Bitstamp is no longer the volume leader.

ya.ya.yo!

[spazzdla]

its not interesting, its scary 
bitcoin crashed more then 6% in last 24 hours
such dumps are preventing bitcoin to rise

That is the entire idea..  Non of you can imagine what is going to happen in the next few years.  Odds are most won't sell at the best time.. O well.  I for see "impossible" gains in a 2-12 hour time frame.  All shorteres not in the in will instantly be bankrupt.

[the_sunship]

someone people are needing to pay tax bills in the US. By selling off a losing commodity like bitcoin, they can pay the tax and get a write off for their losses for next year.

At least that's what I'm thinking, because that's the boat I'm in