Rampion
Legendary
 Offline
Activity: 1148
Merit: 1018
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May 05, 2013, 07:30:41 PM |
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That wall is so crazy that it has to be part of a pump&dump scheme. Otherwise, it's just too crazy. Who the heck is going to put a $2M bid on a single point, just below the spot price, in such a tiny market as BTC? I bet is someone pushing the price up before a massive dump. Interesting situation nevertheless.
At the same time, ask sum creeping down - let's see how real is that bid wall, it would be nice to test it.
We probably can't imagine some of who are involved in BTC. I think that is a fair statement. For all we know a big buyer (VC) steps up, if that sell is removed first, and just purchases the $2M in bitcoins without making the price move up. Think about that. Great opportunity to buy lots at one time. If they pull it, we might just run on through it, actually that is my feeling anyway. I really don't think the large sell order will stay, just as the earlier large bid at 100 (?) got pulled. For some reason, trading today and yesterday is like a movie... For me it's clear than the large bid at $100 was just moved to $110. I think nobody would put all his money on one spot unless he has peanuts - and $2M is no peanuts in the Bitcoin market. You would place bids all over a certain price range, otherwise you are just wittingly pushing the price up, destroying in fact the opportunity to buy below the spot price. It's pure logic: all the buyers will place bids above your wall to be able to buy something, all the sellers will slide their asks up... So, it's clear you are just driving the price up, which someone would normally do before a dump. Just remember that $2M dollars is MORE than 10% of the TOTAL fiat in the Gox order book, that's a HUGE amount to put in a single spot, and its pointless unless you have no intention to buy and in fact your intention is to sell. |
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"There should not be any signed int. If you've found a signed int
somewhere, please tell me (within the next 25 years please) and I'll
change it to unsigned int." -- Satoshi
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Its About Sharing
Legendary
Offline
Activity: 1442
Merit: 1000
Antifragile
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May 05, 2013, 07:38:24 PM |
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That wall is so crazy that it has to be part of a pump&dump scheme. Otherwise, it's just too crazy. Who the heck is going to put a $2M bid on a single point, just below the spot price, in such a tiny market as BTC? I bet is someone pushing the price up before a massive dump. Interesting situation nevertheless.
At the same time, ask sum creeping down - let's see how real is that bid wall, it would be nice to test it.
We probably can't imagine some of who are involved in BTC. I think that is a fair statement. For all we know a big buyer (VC) steps up, if that sell is removed first, and just purchases the $2M in bitcoins without making the price move up. Think about that. Great opportunity to buy lots at one time. If they pull it, we might just run on through it, actually that is my feeling anyway. I really don't think the large sell order will stay, just as the earlier large bid at 100 (?) got pulled. For some reason, trading today and yesterday is like a movie... For me it's clear than the large bid at $100 was just moved to $110. I think nobody would put all his money on one spot unless he has peanuts - and $2M is no peanuts in the Bitcoin market. You would place bids all over a certain price range, otherwise you are just wittingly pushing the price up, destroying in fact the opportunity to buy below the spot price. It's pure logic: all the buyers will place bids above your wall to be able to buy something, all the sellers will slide their asks up... So, it's clear you are just driving the price up, which someone would normally do before a dump. Just remember that $2M dollars is MORE than 10% of the TOTAL fiat in the Gox order book, that's a HUGE amount to put in a single spot, and its pointless unless you have no intention to buy and in fact your intention is to sell. Good description, thx for that. What about on the sell side at $120 though? |
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Frozenlock
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May 05, 2013, 07:47:45 PM |
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So, panic sell when the $110 disappears?  |
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underground_
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May 05, 2013, 07:48:15 PM |
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So, panic sell when the $110 disappears? Panic sell after he dumps 10k btc. |
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oroboras
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May 05, 2013, 07:50:29 PM |
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I'd prefer it if they nudge the 120 wall first... I need to sell before I can buy.
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ManBearPig
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May 05, 2013, 07:52:07 PM |
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I have a feeling that goat is right. It will visit double digits today after all, one last time. Remember to buy yours then!  Don't think so. Anyhow, your prediction skills are state of the art, man. Thanks. Wonder I have any bitcoins left...  You're not alone in that thought... |
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KillaMarci
Member
Offline
Activity: 84
Merit: 10
Bitcoin Mininode...and proud!
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May 05, 2013, 07:56:02 PM |
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I'd prefer it if they nudge the 120 wall first... I need to sell before I can buy.
I think that whoever is putting the wall at $110 is trying to get the price up to $120-$125 so he can get rid of the last dump of coins he bought at a higher price before the value started going down. We should see some movement as soon as we get to a new high point. ($120 or $125 or whatever it might be) - As the price rises to ~$119 he is going to move the wall from $110 to $115 in order to put even more buying pressure on the market, so that he can get the price over his desired value. |
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Frozenlock
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May 05, 2013, 07:57:57 PM |
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Wasn't it the principle of Goomboo's hammer (or something like that)?
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underground_
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May 05, 2013, 07:58:56 PM |
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I'd prefer it if they nudge the 120 wall first... I need to sell before I can buy.
I think that whoever is putting the wall at $110 is trying to get the price up to $120-$125 so he can get rid of the last dump of coins he bought at a higher price before the value started going down. We should see some movement as soon as we get to a new high point. ($120 or $125 or whatever it might be) - As the price rises to ~$119 he is going to move the wall from $110 to $115 in order to put even more buying pressure on the market, so that he can get the price over his desired value. It's not going to make it that far, though. People are becoming wise to the plan. |
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Its About Sharing
Legendary
Offline
Activity: 1442
Merit: 1000
Antifragile
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May 05, 2013, 08:00:51 PM |
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I'd prefer it if they nudge the 120 wall first... I need to sell before I can buy.
I think that whoever is putting the wall at $110 is trying to get the price up to $120-$125 so he can get rid of the last dump of coins he bought at a higher price before the value started going down. We should see some movement as soon as we get to a new high point. ($120 or $125 or whatever it might be) - As the price rises to ~$119 he is going to move the wall from $110 to $115 in order to put even more buying pressure on the market, so that he can get the price over his desired value. It's not going to make it that far, though. People are becoming wise to the plan. That is what I am thinking. Traders who watch the market depth will see that. Those that just put in buy orders near the bid, don't have a clue about the manipulation going on. |
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KillaMarci
Member
Offline
Activity: 84
Merit: 10
Bitcoin Mininode...and proud!
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May 05, 2013, 08:02:28 PM |
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I'd prefer it if they nudge the 120 wall first... I need to sell before I can buy.
I think that whoever is putting the wall at $110 is trying to get the price up to $120-$125 so he can get rid of the last dump of coins he bought at a higher price before the value started going down. We should see some movement as soon as we get to a new high point. ($120 or $125 or whatever it might be) - As the price rises to ~$119 he is going to move the wall from $110 to $115 in order to put even more buying pressure on the market, so that he can get the price over his desired value. It's not going to make it that far, though. People are becoming wise to the plan. The guy is probably going to get impatient soon if he's been waiting for the price to hit $120 all day long. He might dump his coins at $117 already. Btw. 2 and a half minutes of Goxic lag right now. |
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seleme
Legendary
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Activity: 2772
Merit: 1028
Duelbits.com
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May 05, 2013, 08:02:35 PM |
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2.5 min lag
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underground_
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May 05, 2013, 08:03:50 PM |
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Trying to keep it from slipping below $115 with a fake 500btc wall...
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Beta-coiner1
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May 05, 2013, 08:04:30 PM |
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That wall is so crazy that it has to be part of a pump&dump scheme. Otherwise, it's just too crazy. Who the heck is going to put a $2M bid on a single point, just below the spot price, in such a tiny market as BTC? I bet is someone pushing the price up before a massive dump. Interesting situation nevertheless.
.....I think we have a new species,Pigeonbear,no one knows when the dump is coming!  |
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Hawker
Legendary
Offline
Activity: 1218
Merit: 1001
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May 05, 2013, 08:09:07 PM |
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Trying to keep it from slipping below $115 with a fake 500btc wall...
Stop please I sold 107 Bitcoin at $116 and want to get them for $114 within an hour. |
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underground_
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May 05, 2013, 08:11:46 PM |
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Trying to keep it from slipping below $115 with a fake 500btc wall...
Stop please I sold 107 Bitcoin at $116 and want to get them for $114 within an hour. You'll be able to buy them back for much cheaper than that if you wait for a few hours. |
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Odalv
Legendary
Offline
Activity: 1400
Merit: 1000
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May 05, 2013, 08:14:15 PM |
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2.5 min lag
bot was selling(spaming) 5 btc. 0.01-0.001 / transaction |
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SAQ
Newbie
Offline
Activity: 56
Merit: 0
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May 05, 2013, 08:15:40 PM |
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I think the bidwaller would be a bit stupid if he dumped 10k seeing as the price is rising and all the indications are of a rally.
I think he is just desperate for people to eat into the wall, but no one is touching it. So I think he might loose patience and put a market order.
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Hawker
Legendary
Offline
Activity: 1218
Merit: 1001
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May 05, 2013, 08:15:48 PM |
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Trying to keep it from slipping below $115 with a fake 500btc wall...
Stop please I sold 107 Bitcoin at $116 and want to get them for $114 within an hour. You'll be able to buy them back for much cheaper than that if you wait for a few hours. My system is to buy back with 1% clear profit on every deal. Even if more can be had, at this stage I am only interested in establishing trading rules so I can safely trade 2000 at a time. |
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oroboras
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May 05, 2013, 08:17:27 PM |
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That is basically my plan too. If it works, Sept 2nd will be the day I quit my job, with 1006 BTC providing a decent income.
Sadly, every day that goal seems to fall further and further away.
I AM determined though, and will continue with my goal.
EDIT: I'm investing in ASIC's too, to help me along.
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