Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[BitPirate]

adamstgBit: 11 days remaining.  

support feels fairly strong at below 100
if i'm right in thinking everyone sold off thinking they could buy back lower... we might get some short squeezing action soon enoght.
11 days one retarded time frame, but hey... this is BITCOIN, Mr.WroldBank and his buddies are going to look at bitcoin closely tomorrow, who knows what will come out of that.
exciting times!

:-) ... increased exposure, with the price at a local minimum. Could be worse.

[Coinseeker]

By the way. The silence in here is deafening.

Funny, was thinking the same thing.     I understand though. Hard to hear bulls when they are struggling to pull their heads out of the sand.   

[MickeyT2008]

These dumps always seems to happen at around 5am UK time, I wonder where whoever keeps doing this is based.

[adamstgBit]

These dumps always seems to happen at around 5am UK time, I wonder where whoever keeps doing this is based.

its 1AM on the east coast.

someone is purposely trying to bring down price when people are not watching?

[BitPirate]

These dumps always seems to happen at around 5am UK time, I wonder where whoever keeps doing this is based.

its 1AM on the east coast.

someone is purposely trying to bring down price when people are not watching?

The sell-offs don't seem as frenzied as last week -- I'm not sure this is a manipulator per se. Perhaps "medium sized fish" getting in before the anticipated weekend sell-offs.

[dwdoc]

adamstgBit, sometimes I wonder if you are just trolling...  

with selling pressure severely depressed due the mass delusion of a bitcoin depression on the horizon. the rally will cut through all resistance points like a hot knife cutting through soft butter.

180 with 12days

 

You sure you didn't mean 180 in 120 days?




[/quote]

[MickeyT2008]

adamstgBit, sometimes I wonder if you are just trolling...  

with selling pressure severely depressed due the mass delusion of a bitcoin depression on the horizon. the rally will cut through all resistance points like a hot knife cutting through soft butter.

180 with 12days

 

You sure you didn't mean 180 in 120 days?

We'd probably be at that point already if our mystery weekend 5am coin dumper hadn't appeared on the scene last month, the price was climbing nicely until then

[DPoS]

There's hella ton of BTC piles that have to go to fabs to pump out new miner chips... There will be pain

[wonkytonky]

There's hella ton of BTC piles that have to go to fabs to pump out new miner chips... There will be pain

think we are safe for now but ..  as soon as we think.. yes we hit real bottom .. next week or so .. some big ass mofo will dump tha shizzle on us

[Jaroslaw]

Like i said previously i sell some coins tonight, its turns out i need more money so next 35k BTC will be dumped over weekend.

[BitPirate]

There's hella ton of BTC piles that have to go to fabs to pump out new miner chips... There will be pain

think we are safe for now but ..  as soon as we think.. yes we hit real bottom .. next week or so .. some big ass mofo will dump tha shizzle on us

The last thing such manufacturers will want to do is sell coins cheaply. Credit may be a more attractive option.

[byronbb]

These dumps always seems to happen at around 5am UK time, I wonder where whoever keeps doing this is based.

its 1AM on the east coast.

someone is purposely trying to bring down price when people are not watching?

I am puzzled too. Is he trying to stop out people on margins? Is it the actions of a mining company who is just getting whatever they can get. Is it an attempt to screw with the VWAP, which guys like Tangible Cryptography used to set their sell price each day? Are there huge volumes transactions taking place between parties that are below public radar?

[dexX7]

These dumps always seems to happen at around 5am UK time, I wonder where whoever keeps doing this is based.

its 1AM on the east coast.

someone is purposely trying to bring down price when people are not watching?

Let's say you sell a huge amount of coins. What would happen, if you sell at A) main trading hours or B) at unregular times, like saturday night? Is it more likely to induce a crash at A or B?

[MickeyT2008]

From the way this keeps happening I can't help wondering if it's a deliberate attempt to damage confidence in BTC rather than a way to make money or simple incompetence.  Now, who would both be able to afford to do this and benefit from it?  Maybe I'm just being paranoid but I can't help suspecting the US government or their banks - neither of whom are famous for playing fair or even obeying the law.  They could cause trouble like this with their spare change.

I don't think a tin foil hat is necessary to consider them capable of malicious behaviour, they have a long history of it.

[Rampion]

These dumps always seems to happen at around 5am UK time, I wonder where whoever keeps doing this is based.

its 1AM on the east coast.

someone is purposely trying to bring down price when people are not watching?

Let's say you sell a huge amount of coins. What would happen, if you sell at A) main trading hours or B) at unregular times, like saturday night? Is it more likely to induce a crash at A or B?

1AM east coast = 3PM Beijing

The new wealthy elite of Bitcoin supernodes is Chinese, do not forget that, gentlemen.

[tHash]

These dumps always seems to happen at around 5am UK time, I wonder where whoever keeps doing this is based.

its 1AM on the east coast.

someone is purposely trying to bring down price when people are not watching?

The sell-offs don't seem as frenzied as last week -- I'm not sure this is a manipulator per se. Perhaps "medium sized fish" getting in before the anticipated weekend sell-offs.

I imagine with each sell-off, there are more and more coins not re-bought as people become more and more bearish.   This would naturally reduce the number of coins held by day traders, limiting future sell-offs somewhat.   Of course there are miners, and long term holders, the latter of which probably are not going to sell without some major bad news.   The miners have always been there, and in the current market, I would bet they are unloading in a more controlled way than just dumping, to avoid slippage.

I would agree with your medium sized fish theory, the big fish sold and bought back in, and he would not make any money selling again now, unless there are several big fish . . .

[ShroomsKit]

adamstgBit, sometimes I wonder if you are just trolling...  

with selling pressure severely depressed due the mass delusion of a bitcoin depression on the horizon. the rally will cut through all resistance points like a hot knife cutting through soft butter.

180 with 12days

 

You sure you didn't mean 180 in 120 days?

We'd probably be at that point already if our mystery weekend 5am coin dumper hadn't appeared on the scene last month, the price was climbing nicely until then

And that's what makes the whole dumping thing so silly and annoying. It's as if these people don't want Bitcoin to go up.

[KS]

From the way this keeps happening I can't help wondering if it's a deliberate attempt to damage confidence in BTC rather than a way to make money or simple incompetence.  Now, who would both be able to afford to do this and benefit from it?  Maybe I'm just being paranoid but I can't help suspecting the US government or their banks - neither of whom are famous for playing fair or even obeying the law.  They could cause trouble like this with their spare change.

I don't think a tin foil hat is necessary to consider them capable of malicious behaviour, they have a long history of it.

or it's a way to soften up the meat before you *really* bite into it...

[Rampion]

adamstgBit, sometimes I wonder if you are just trolling...  

with selling pressure severely depressed due the mass delusion of a bitcoin depression on the horizon. the rally will cut through all resistance points like a hot knife cutting through soft butter.

180 with 12days

 

You sure you didn't mean 180 in 120 days?

We'd probably be at that point already if our mystery weekend 5am coin dumper hadn't appeared on the scene last month, the price was climbing nicely until then

And that's what makes the whole dumping thing so silly and annoying. It's as if these people don't want Bitcoin to go up.

No, "this people" want to realize massive fiat profits. And there's no easy and quick way to sell +8kBTC in this tiny (bear) market with shallow depth and low volume.

Bitcoin already went up a lot. Let the baby correct.

[bobdude17]

From the way this keeps happening I can't help wondering if it's a deliberate attempt to damage confidence in BTC rather than a way to make money or simple incompetence.  Now, who would both be able to afford to do this and benefit from it?  Maybe I'm just being paranoid but I can't help suspecting the US government or their banks - neither of whom are famous for playing fair or even obeying the law.  They could cause trouble like this with their spare change.

I don't think a tin foil hat is necessary to consider them capable of malicious behaviour, they have a long history of it.

or it's a way to soften up the meat before you *really* bite into it...

I don't think anyone is going to take a big bite until MtGox no longer determines the price of the Bitcoin market. It really is laughable when you think about it. I think everyone is really just waiting for the next gen exchanges.