Current state of Bitcoin market June 26, 2016:01[19:03] <r0ach> when it broke below $600 the other day, it was due to MASSIVE amounts of shorts
01[19:03] <r0ach> and not real bitcoin sells
01[19:03] <r0ach> so it was entirely bullshit bear raid
[19:03] <cesurasean> how do you predict the dips anyways? reading materials about news, etc, gather info?
01[19:05] <r0ach> this:
https://www.youtube.com/watch?v=4y6qD_2SQrs[19:07] <cesurasean> hehe
[19:30] <wsmsg> r0ach: still bull?
01[19:34] <r0ach> market is controlled entirely by 1 single entity on finex right now, he can send price anywhere in short term, so I trade entirely off what he does. For halving still bullish yes
[19:36] <wsmsg> whats his position now?
01[19:38] <r0ach> he's testing the market low right now. He is the one who pushed it to $550 last time, but he did so with shorts and not actual coin sells, so it entirely depends on if this guy does some stupid move and tries to crater the market while also taking a loss on shorts he has to cover (but can't)
01[19:38] <r0ach> it doesn't look like he's going ballistic with shorts this time tho
01[19:39] <r0ach> at least not the extent as before
[19:39] <wsmsg> lets hope the uptrend continues
thanks for your insight
[19:41] <fluter> is it possible to identify this person and know who he is?
01[19:41] <r0ach> if BitFinex gives him up...sure
[19:41] <Squidicuz> ...
[19:42] <wsmsg> id imagine youd have to have quite deep pockets to move the market
01[19:42] <r0ach> he's got a lot
[19:42] <fluter> This is how difficult with bitcoin, when in stock exchange, they have to publish the biggest traders everyday
01[19:42] <r0ach> enough where nobody tried to fight him yet at least
[19:42] <berndj> how do you know it's the same one, r0ach ?
01[19:42] <r0ach> because when you trade bitcoin every day it's easy as shit to notice
01[19:43] <r0ach> just like it's easy as shit to notice Eth is controlled by one guy on Poloniex
01[19:43] <r0ach> so the 2 biggest crypto markets are completely non-aggregate markets
[19:44] <fluter> I wish I have you knowledge, r0ach
[19:44] <fluter> your
01[19:44] <r0ach> also, the last guy this pushed the market down on purpose, he shorted all the way to the bottom, kept shorting at the bottom at a loss, then like 1 nanosecond after his last short, instantly begins to cover
01[19:45] <r0ach> with a big spike
01[19:45] <r0ach> the guy who is doing it is probably reading this right now pissed I'm telling people heh
[19:46] <RainMan28> but r0ach how can you honestly know its just one single person and not a bunch of different people acting in a similar fashion?
01[19:46] <r0ach> because he doesn't obfuscate his activity
01[19:47] <r0ach> he's by far the biggest volume in the market, so he would have a hard time doing so anyway
01[19:48] <r0ach> he's also been forcing china to follow him
01[19:48] <r0ach> instead of vice versa
01[19:48] <r0ach> which was new to me
01[19:49] <r0ach> there was another mega whale that stepped in that attempted to take the reigns from China and pump higher when china didn't want to that got us to $790
01[19:50] <r0ach> not sure if it was the same guy or not
01[19:50] <r0ach> but that was the first time I saw China not being the leader of this market
[19:51] <fluter> r0ach: it might be a china trader trading outside of china?
01[19:53] <r0ach> china whales are usually easy for me to spot because they operate in binary modes: 1) altruistic type WE MUST GO HIGHER mode and then 2) Can't rise any higher, time to screw everyone with mega dump and shorts then leave the market till it cools
01[19:53] <r0ach> but the chinese never try to actually do long term damage to charts with mega lows and shit like that
01[19:53] <r0ach> but this Finex trader DOES
[19:54] <fluter> oh
01[19:54] <r0ach> I actually suspected it was Finex the exchange themselves naked shorting
01[19:55] <r0ach> because the guy has too much fucking money
01[19:55] <r0ach> which is why we should probably demand finex make a statement on this guy
01[19:55] <r0ach> when you have a completely non-aggregate bullshit market
01[19:57] <r0ach> the amount of margin right now is high, so they are also trying to scare out margin traders
01[19:59] <r0ach> yesterday the guy padded the buy side and got people to buy his shorts then dumped the market
01[19:59] <r0ach> so that's where we are now
01[20:00] <r0ach> price has 0 to do with fundamentals right now
01[20:00] <r0ach> just 1 guy