$162 Bitfinex [2015-AUG-18]

[mastertrader777]

Woah that was fun!

[Cconvert2G36]

Damn, somebody made my day!
Had a bunch of orders just sleeping at 175

What can i say... thanks?!

Trollish doom posts by night while sleeping on some lowball bids... heh.

Even the trolls love Bitcoin. Why else would they waste so much time?

[btccashacc]

Damn, somebody made my day!
Had a bunch of orders just sleeping at 175

What can i say... thanks?!

so are you want to sell for short term ? or hold it ?

[luckyflop]

The next game will be hit 500$  
still positive thinking

Its like….. it was$179.00 for 1 minute ONLY, enough time for one shark to buy up all that he wants….

[Monopoly]

A move like this is most likely due to insider trading. 

One of a Disadvantage of worthless and decentralize market is something like this ..... in forex you must have millions of dollars for make candles like this ......

[bajing]

sh*t! price dumping much today
what happened with bitcoin price

[ixus]

Bitfinex is full of surprises (not to mention DASH Crash Aug-7 and hacker attack). I sold on 250 my modest account because tech analysis predicted something like down to 200 on this week. But surely not 162.

[MatTheCat]

I'm thinking about lawsuit against bitfinex on directly european court of justice... And I actually did some profit out of that... But I really started to hate bitfinex.

and this is why nobody should trade on Bitfinex.....

.....it is blatantly phucking corrupt (see my sig).

Last night was obviously corrupt (but erm, who ya gonna call?), but they are fucking corrupt and generally at it all of the phucking time (or at least their trading bots privvy to insider info are).


Ya know what....I really felt that Bitcoin has done it's time in the doledrums and the natural market sentiment from here on will be to slowly recover before ultimately going on another rally......but with major market places as corrupt as Bitfinex on the scene, basically netting together all the little fishies and crustaceans of the sea for an insider whale to take a big bite out of, there will come a point where nobody is willing to sink money into Bitcoin....

....How many of those leveraged long traders who just got Bitfinexed do you think are still 'long Bitcoin'?

[Wexlike]

I'm thinking about lawsuit against bitfinex on directly european court of justice... And I actually did some profit out of that... But I really started to hate bitfinex.

and this is why nobody should trade on Bitfinex.....

.....it is blatantly phucking corrupt (see my sig).

Last night was obviously corrupt (but erm, who ya gonna call?), but they are fucking corrupt and generally at it all of the phucking time (or at least their trading bots privvy to insider info are).


Ya know what....I really felt that Bitcoin has done it's time in the doledrums and the natural market sentiment from here on will be to slowly recover before ultimately going on another rally......but with major market places as corrupt as Bitfinex on the scene, basically netting together all the little fishies and crustaceans of the sea for an insider whale to take a big bite out of, there will come a point where nobody is willing to sink money into Bitcoin....

....How many of those leveraged long traders who just got Bitfinexed do you think are still 'long Bitcoin'?

Good to see you back, Mat.

[kwukduck]

Damn, somebody made my day!
Had a bunch of orders just sleeping at 175

What can i say... thanks?!

Trollish doom posts by night while sleeping on some lowball bids... heh.

Even the trolls love Bitcoin. Why else would they waste so much time?

I never claimed to hate bitcoin. I just think there's a lot to be done, both on bitcoin itself and within the mindset of the people involved or using it in any way.
For a while things were looking pretty grimm to me, i'm still not going to tell you it will be worth $10k though :p But i certainly feel more positive about it reading more on the XT drama, whats ACTUALLY going on instead of all the FUD, and this quick bounce also instilled some confidence.

Damn, somebody made my day!
Had a bunch of orders just sleeping at 175

What can i say... thanks?!

so are you want to sell for short term ? or hold it ?

Not sure, like i said, feeling fairly confident that we have a stronger market than i thought before, for now i'll hodl a bit and maybe spend a bit for fun.

[coinzat]

I think this is the lowest price that happened since 2013
The next days will show us is it the second collapse of bitcoin or only normal thing

[eerygarden]

An unlikely miracle could happen tomorrow and greece defaults. Yeah yeah.

[madjules007]

A move like this is most likely due to insider trading.  I'm assuming someone inside bitfinex saw an opportunity to crash the market and trigger a majority of margin calls.  A lot of little guys just lost everything so a whale could have a snack.  I hope some lessons in margin trading were learned.

I'm thinking about lawsuit against bitfinex on directly european court of justice... And I actually did some profit out of that... But I really started to hate bitfinex.

And what good do you think that's gonna do?

Take a look at actively used swaps and compare the volume to Bitfinex's order book. Since I started regularly watching them in early 2014, margin call cascades were always a possibility at any given time. Bitfinex has never had adequate liquidity to support the amount of margin they allow, and this is exacerbated by the bullishness of leveraged bitcoin traders -- always heavily, heavily skewed long.

How long do people think they can baghold margined longs in a sideways/downtrending market? Price slow bled for a month, and then people are surprised there was a flash crash that cleans them out?

Cry manipulation all you want, but slow bleeding into support was a great opportunity to trigger a breakdown, and it didn't take much coin at all. It's a thin line. Below $200 is a liquidity crisis -- the first trip to $166 taught us that. Below $240 is below the highest volume buying in a near 2-year downtrend. Do the math......

[Amph]

I think this is the lowest price that happened since 2013
The next days will show us is it the second collapse of bitcoin or only normal thing

sadly it does not count, until it happen on every exchange, i'm not gonna trust a single exchange no matter the volume that this exchange is holding, there are heavy manipulation going on right now, you can't trust shit

[Mickeyb]

damn! i expected the price to go down, but definitely not this much. glad bitstamp and btc-e didn't follow bitfinex downwards.

Well this is just one isolated user. Nothing else. He got scared about all the XT turmoil and he decided to get out. The fact that btc-e and Bitstamp haven't followed confirms that.

Lets just hope that we won't see any more cases in the near future because this scared the s**t out of us all. Also this is why all the XT turmoil need to be solved asap. We are just not stable enough as a community at the moment.

[illyiller]

I think this is the lowest price that happened since 2013
The next days will show us is it the second collapse of bitcoin or only normal thing

sadly it does not count, until it happen on every exchange, i'm not gonna trust a single exchange no matter the volume that this exchange is holding, there are heavy manipulation going on right now, you can't trust shit

Yeah, I wouldn't go purely off Bitfinex either, but that's why we have to acknowledge that we haven't really gotten a good old fashioned capitulation. Bitfinex did perhaps, but not the other exchanges. Looks like everyone else (Stamp, Okcoin, Huobi, Futures) just bounced $220ish. Looks pretty weak though.

[randy8777]

damn! i expected the price to go down, but definitely not this much. glad bitstamp and btc-e didn't follow bitfinex downwards.

Well this is just one isolated user. Nothing else. He got scared about all the XT turmoil and he decided to get out. The fact that btc-e and Bitstamp haven't followed confirms that.

Lets just hope that we won't see any more cases in the near future because this scared the s**t out of us all. Also this is why all the XT turmoil need to be solved asap. We are just not stable enough as a community at the moment.

well, i don't think that person was scared or anything. i'm sure he or they were looking to create massive panic and trigger stop loss orders to create a flash crash.

[lexuz]

I think this is the lowest price that happened since 2013
The next days will show us is it the second collapse of bitcoin or only normal thing

Yeah you are right but only in a second, it's enough to make some people panic and sell their coins in cheap price

[Mickeyb]

damn! i expected the price to go down, but definitely not this much. glad bitstamp and btc-e didn't follow bitfinex downwards.

Well this is just one isolated user. Nothing else. He got scared about all the XT turmoil and he decided to get out. The fact that btc-e and Bitstamp haven't followed confirms that.

Lets just hope that we won't see any more cases in the near future because this scared the s**t out of us all. Also this is why all the XT turmoil need to be solved asap. We are just not stable enough as a community at the moment.

well, i don't think that person was scared or anything. i'm sure he or they were looking to create massive panic and trigger stop loss orders to create a flash crash.

Well this can be the case as well. If this is really what happened, then we should feel good since his plan didn't work out at all.

This would also mean that there is a huge, huge resistance in the $200-$220 area that will hard to break. This makes sub $200 coins hard imaginable, except for the 1 exchange crashes that we saw on Bitfinex yesterday.

[tyrexs]

Bitfinex could push prices down to $50. That is true. I believe that they are manipulating with order book in that way that they are putting hidden orders in it.

Actually, their primary business is NOT providing exchange, but manipulating the market by squeezing longs and shorts.

i'm agree with you and i think look like manipulation by some player to take benefit who sell their coins in cheap price