fonzie
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August 07, 2014, 07:48:57 AM |
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Russia finally bans BTC. Not yet. That's project of the law, published for discussing. If accepted, will become the law at some point in 2015. Could be THE great candidate for the inevitably FUD event that starts the bear market after the next bubble. I´ll keep an eye on that!
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ChartBuddy
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Activity: 2226
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August 07, 2014, 07:59:50 AM |
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fonzie
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August 07, 2014, 08:03:46 AM |
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Bye bye LTC!
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Omniescient
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Activity: 14
Merit: 0
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August 07, 2014, 08:05:41 AM |
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need opinion lowest price on this move what your speculation ? will touch 300 again ?
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Newbie1022
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August 07, 2014, 08:09:29 AM |
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there's so much manipulation in this market. i gotta stop letting the whales get in my head. i mean -- is this guy accumulating on huobi? or is trying to get us to think he's accumulating? This I don't understand. So, a guy sets a floor which causes the price to be higher than it would otherwise be to buy into... moreover, the multitude of volume is sells/asks not bids/buys in front of that wall... and yet people keep saying this guy is accumulating. This just makes no sense to me whatsoever. First, why would he make his price of entry higher. Second, how is he accumulating if most of the volume is asks in front of that wall (I guess every deal has two sides, but it looks like somebody is dumping in front of an artificial wall until, every now and then, somebody sacks up and calls bull----). So, pardon me for using logic, but what the hell is everybody else seeing that I'm not. Is somebody tracking which wallet the coins are all going to or something that lets them know somebody is accumulating. Because, frankly, I don't see accumulating (or much interest in buying at this price notwithstanding there being an artificial floor to boost prices). Did I somehow land in bizarro-land. I am almost starting to question my sanity because what I am seeing is so literally the opposite of what poster after poster is writing.
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Sandia
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August 07, 2014, 08:32:18 AM |
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there's so much manipulation in this market. i gotta stop letting the whales get in my head. i mean -- is this guy accumulating on huobi? or is trying to get us to think he's accumulating? This I don't understand. So, a guy sets a floor which causes the price to be higher than it would otherwise be to buy into... moreover, the multitude of volume is sells/asks not bids/buys in front of that wall... and yet people keep saying this guy is accumulating. This just makes no sense to me whatsoever. First, why would he make his price of entry higher. Second, how is he accumulating if most of the volume is asks in front of that wall (I guess every deal has two sides, but it looks like somebody is dumping in front of an artificial wall until, every now and then, somebody sacks up and calls bull----). So, pardon me for using logic, but what the hell is everybody else seeing that I'm not. Is somebody tracking which wallet the coins are all going to or something that lets them know somebody is accumulating. Because, frankly, I don't see accumulating (or much interest in buying at this price notwithstanding there being an artificial floor to boost prices). Did I somehow land in bizarro-land. I am almost starting to question my sanity because what I am seeing is so literally the opposite of what poster after poster is writing. He has already added more coins to the wall at least TWICE after it was eaten down to a few hundred coins. He is definitely buying. I guessed yesterday that he has already bought at least 4k btc without a price increase. It is probably higher. He is getting a great price, has no slippage, and isn't chasing the market. I say well done. It is sad to watch small owners selling their coins cheap to a fiat whale, but that is their decision.
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Davyd05
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August 07, 2014, 08:33:59 AM |
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boo slippage
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Newbie1022
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August 07, 2014, 08:37:56 AM |
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there's so much manipulation in this market. i gotta stop letting the whales get in my head. i mean -- is this guy accumulating on huobi? or is trying to get us to think he's accumulating? This I don't understand. So, a guy sets a floor which causes the price to be higher than it would otherwise be to buy into... moreover, the multitude of volume is sells/asks not bids/buys in front of that wall... and yet people keep saying this guy is accumulating. This just makes no sense to me whatsoever. First, why would he make his price of entry higher. Second, how is he accumulating if most of the volume is asks in front of that wall (I guess every deal has two sides, but it looks like somebody is dumping in front of an artificial wall until, every now and then, somebody sacks up and calls bull----). So, pardon me for using logic, but what the hell is everybody else seeing that I'm not. Is somebody tracking which wallet the coins are all going to or something that lets them know somebody is accumulating. Because, frankly, I don't see accumulating (or much interest in buying at this price notwithstanding there being an artificial floor to boost prices). Did I somehow land in bizarro-land. I am almost starting to question my sanity because what I am seeing is so literally the opposite of what poster after poster is writing. He has already added more coins to the wall at least TWICE after it was eaten down to a few hundred coins. He is definitely buying. I guessed yesterday that he has already bought at least 4k btc without a price increase. It is probably higher. He is getting a great price, has no slippage, and isn't chasing the market. I say well done. It is sad to watch small owners selling their coins cheap to a fiat whale, but that is their decision. Well, that explanation makes sense. I just assumed he had a ton of coins (that he could sell in front of the wall) AND a ton of money that he could put up to set the wall. But, what you are saying makes sense since he has been adding more and more to the wall. Thanks for the response.
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Sandia
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August 07, 2014, 08:44:57 AM |
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Another data point:
Watching bids, either there are 2 whales buying or he has his wall plus more smaller bids at slightly higher prices. I keep seeing identical mid-sized bids near market price. Right now, there are 4 bids of 16.051 showing. Last night, there were a series of identical 20.xxx bids.
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Newbie1022
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August 07, 2014, 08:50:13 AM |
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Another data point:
Watching bids, either there are 2 whales buying or he has his wall plus more smaller bids at slightly higher prices. I keep seeing identical mid-sized bids near market price. Right now, there are 4 bids of 16.051 showing. Last night, there were a series of identical 20.xxx bids.
I think whatever is going on that it is the same cat. I just don't see how he is managing to get these, frankly, magnificently low prices. I'd think you'd use a giant and insurmountable ask wall to drum down price expectations, buy in front of that, and then add those that you just bought to a secondary wall at an even lower price until you walked the market down. He seems to be doing the opposite if you are right and is still getting super sweet prices. It makes no sense why BTCs are this cheap right now.
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windjc
Legendary
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Activity: 2156
Merit: 1070
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August 07, 2014, 08:51:17 AM |
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Another data point:
Watching bids, either there are 2 whales buying or he has his wall plus more smaller bids at slightly higher prices. I keep seeing identical mid-sized bids near market price. Right now, there are 4 bids of 16.051 showing. Last night, there were a series of identical 20.xxx bids.
What doesn't make sense is that if this "whale" theory is correct, there is almost zero other buying going and AND there is a ton of selling going on, as 4k bitcoins have been sold into this area. Its as if the market, on whole, really wants to go down. Right now, there is selling action and almost no buying action outside of this wall.
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Newbie1022
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August 07, 2014, 08:53:43 AM |
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Another data point:
Watching bids, either there are 2 whales buying or he has his wall plus more smaller bids at slightly higher prices. I keep seeing identical mid-sized bids near market price. Right now, there are 4 bids of 16.051 showing. Last night, there were a series of identical 20.xxx bids.
What doesn't make sense is that if this "whale" theory is correct, there is almost zero other buying going and AND there is a ton of selling going on, as 4k bitcoins have been sold into this area. Its as if the market, on whole, really wants to go down. Right now, there is selling action and almost no buying action outside of this wall. That was my initial thought, too. I also haven't the slightest clue why there is no buying action when you have a constantly reinforcing price floor, too, and a price that is much cheaper than we had a couple weeks ago. Ok, back to bizarro-land.
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ChartBuddy
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August 07, 2014, 08:59:50 AM |
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Yololintian
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August 07, 2014, 09:01:41 AM |
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So someone wants to accumulate some thousands of bitcoins and is doing so on huobi; He could do so for much less but I would agree that this is a very effective way to do so since he is almost 100% of the buying pressure at present. This accumulation is having so much affect on the market that huobi has been $5-10 higher than the other exchanges for almost 2 days now. There need not be any wacky theories of this guy is manipulating people into buying from his asks or some other ridiculous stuff; its pretty obvious what is going on and its simple. However, the price is stagnating, longs must continue to pay interest and bulls have no money left to buy now, so it is almost certain we will be heading down once this guy is done accumulating.
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Newbie1022
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August 07, 2014, 09:05:34 AM |
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So someone wants to accumulate some thousands of bitcoins and is doing so on huobi; He could do so for much less but I would agree that this is a very effective way to do so since he is almost 100% of the buying pressure at present. This accumulation is having so much affect on the market that huobi has been $5-10 higher than the other exchanges for almost 2 days now. There need not be any wacky theories of this guy is manipulating people into buying from his asks or some other ridiculous stuff; its pretty obvious what is going on and its simple. However, the price is stagnating, longs must continue to pay interest and bulls have no money left to buy now, so it is almost certain we will be heading down once this guy is done accumulating.
Yea way too reasonable. By the way, I wasn't saying that he was having people buy from his asks... actually, he is doing the opposite. I was saying if I was a whale, I would have played it that way (and that would make me a bastard, but I'd be doing everything possible to keep my entry price as low as possible). I guess the other thing is that I assume whales possess not only a high IQ, but are also devious -- I mean, how else did they get all of that money. But, maybe that is the false assumption. Maybe he just wants to buy a s--- ton of coins and that's that.
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windjc
Legendary
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Activity: 2156
Merit: 1070
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August 07, 2014, 09:22:15 AM |
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The wall is falling.
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Sandia
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August 07, 2014, 09:32:09 AM |
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Bulls still have plenty of money. They are sitting on the sidelines waiting for either: a) the bottom of this slide, or b) significant upward momentum. It feels pointless to buy now because there is a 90% chance we will slide another $15 and there is zero chance the price will hit even $600 soon. Everyone is discouraged.
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ensurance982
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August 07, 2014, 09:56:23 AM |
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The wall is falling.
I can't seem to find any wall right now or over the last hours. It's simply nothing going on right now. Volume is more or less back on boring levels and that's about it I guess.
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ChartBuddy
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August 07, 2014, 09:59:49 AM |
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JayJuanGee
Legendary
Online
Activity: 3766
Merit: 10450
Self-Custody is a right. Say no to"Non-custodial"
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August 07, 2014, 10:00:17 AM |
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Bulls still have plenty of money. They are sitting on the sidelines waiting for either: a) the bottom of this slide, or b) significant upward momentum. It feels pointless to buy now because there is a 90% chance we will slide another $15 and there is zero chance the price will hit even $600 soon. Everyone is discouraged.
I'm sorry to be nit picky, but I agree with your first statement. However, your second statement in bold seems a bit much... By your statement you seem discouraged, but that feeling of discouragement should NOT be extrapolated to everyone. There is a decent chance of a $15 drop, but 90% --- my gosh !!!.. maybe 50%, NOT 90%... and zero% chance of $600, soon? I'll take your "soon" to refer to within the next few days. Please note, we've received a lot of good news this week with the potential UK endorsement and Global payments, which could cause buying from any entity or person causing upward momentum in the price.. greater than 0% chance of rise to $600 within the coming days... but I may agree with you that it is more likely to see $565 than to see $600 in the coming days... NONETHELESS $600+ is likely in our "soon" future... maybe next week? I'm NOT discouraged, and I will likely buy a few more at $565, if we get there.
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