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

[Torque]

I've noticed that "bearwhale" is now some sort of deity cult figure. Apparently he has a huge power over the markets. Reminds me of KARHU, but that one was a joke.

Repent!

Bow before your new God.

https://www.reddit.com/r/BitcoinMarkets/comments/2hyl9c/daily_discussion_wednesday_october_01_2014/ckxbdu6

EDIT: I wonder how many people in this thread don't also frequent r/BitcoinMarkets.

He left out the 2k walls that the guy put up to stall the rally.  Every time the price dipped below the next 5USD level, he moved his walls down.

With no evidence, I have always believed the guy killed off either a bubble or a rise to a "normal" level of 800USD.  Instead, we have seriously damaged the reputation of btc by crashing down to the 300's.

Edit: I see no reason to read /r/bitcoinmarkets.  Short trolls and book talking dominate the subreddit.  This thread has several of the major whales in it (please don't delete my post again, you know it is true) and I am entertained  reading what they say about price changes.

Aren't the whales worried at all about the fact that these dumps are causing some people to seriously give up and walk away from Bitcoin?  I would think that they would hope, at some point, for the price to rise.  If more buyers just walk away with no intention to return the whales could just be shooting themselves in their own foot with these dumps.  I can understand their desire to use their stash of coins to make more, but they can manipulate the market at a higher point later just by giving the market some "breathing room" and letting it rise.  But what do I know?    Just a small holder here.

Same question I have BitChick.  It really seems as if more is going on here than just a whale with a lot of coins selling.  Someone seems to have an endless supply of coins and is actively trying to suppress a market that would naturally rise if not for the massive sell walls.  If they are trying to destroy market confidence, I say it's likely working so far.

Remove those walls, and I guarantee that we'd be at 500+ in 2 weeks, and with rising volume.

But no... don't even so much as breathe the word 'manipulation' on these sub, lest you get completely ridiculed and called a tinfoil hat wearer.  Even though the whales' intentions are so obvious an 8-year old could figure it out with the data.

[Richy_T]

We should be able to tell if the dumps are being made at times of maximum or minumum slippage. If minimum, it's someone just selling, if maximum, it's someone trying to get the maximum down-movement for minimum cost.

[FNG]

But no... don't even so much as breathe the word 'manipulation' on these sub, lest you get completely ridiculed and called a tinfoil hat wearer.  Even though the whales' intentions are so obvious an 8-year old could figure it out with the data.

I'm of the opinion that a large buyer is purchasing off exchange blocks and dumping on exchanges to build a massive and cheap stash. Nothing else makes much sense. Sure people panic but many of the sales come when you would least expect someone to panic

[inca]

I'll whisper the only words that frighten me, "central bank market operations"

[fonzie]

Probably an 13 year old russian hacker having the time of his life.

Or shroomskit´ .

[ShroomsKit]

I've noticed that "bearwhale" is now some sort of deity cult figure. Apparently he has a huge power over the markets. Reminds me of KARHU, but that one was a joke.

Repent!

Bow before your new God.

https://www.reddit.com/r/BitcoinMarkets/comments/2hyl9c/daily_discussion_wednesday_october_01_2014/ckxbdu6

EDIT: I wonder how many people in this thread don't also frequent r/BitcoinMarkets.

He left out the 2k walls that the guy put up to stall the rally.  Every time the price dipped below the next 5USD level, he moved his walls down.

With no evidence, I have always believed the guy killed off either a bubble or a rise to a "normal" level of 800USD.  Instead, we have seriously damaged the reputation of btc by crashing down to the 300's.

Edit: I see no reason to read /r/bitcoinmarkets.  Short trolls and book talking dominate the subreddit.  This thread has several of the major whales in it (please don't delete my post again, you know it is true) and I am entertained  reading what they say about price changes.

Aren't the whales worried at all about the fact that these dumps are causing some people to seriously give up and walk away from Bitcoin?  I would think that they would hope, at some point, for the price to rise.  If more buyers just walk away with no intention to return the whales could just be shooting themselves in their own foot with these dumps.  I can understand their desire to use their stash of coins to make more, but they can manipulate the market at a higher point later just by giving the market some "breathing room" and letting it rise.  But what do I know?    Just a small holder here.

Same question I have BitChick.  It really seems as if more is going on here than just a whale with a lot of coins selling.  Someone seems to have an endless supply of coins and is actively trying to suppress a market that would naturally rise if not for the massive sell walls.  If they are trying to destroy market confidence, I say it's likely working so far.

Remove those walls, and I guarantee that we'd be at 500+ in 2 weeks, and with rising volume.

But no... don't even so much as breathe the word 'manipulation' on these sub, lest you get completely ridiculed and called a tinfoil hat wearer.  Even though the whales' intentions are so obvious an 8-year old could figure it out with the data.

Exactly.

[ShroomsKit]

But no... don't even so much as breathe the word 'manipulation' on these sub, lest you get completely ridiculed and called a tinfoil hat wearer.  Even though the whales' intentions are so obvious an 8-year old could figure it out with the data.

I'm of the opinion that a large buyer is purchasing off exchange blocks and dumping on exchanges to build a massive and cheap stash. Nothing else makes much sense. Sure people panic but many of the sales come when you would least expect someone to panic

This guy already has a massive stash. This behaviour is not of someone selling to buy back cheap. It just isn't.

[BitChick]

I've noticed that "bearwhale" is now some sort of deity cult figure. Apparently he has a huge power over the markets. Reminds me of KARHU, but that one was a joke.

Repent!

Bow before your new God.

https://www.reddit.com/r/BitcoinMarkets/comments/2hyl9c/daily_discussion_wednesday_october_01_2014/ckxbdu6

EDIT: I wonder how many people in this thread don't also frequent r/BitcoinMarkets.

He left out the 2k walls that the guy put up to stall the rally.  Every time the price dipped below the next 5USD level, he moved his walls down.

With no evidence, I have always believed the guy killed off either a bubble or a rise to a "normal" level of 800USD.  Instead, we have seriously damaged the reputation of btc by crashing down to the 300's.

Edit: I see no reason to read /r/bitcoinmarkets.  Short trolls and book talking dominate the subreddit.  This thread has several of the major whales in it (please don't delete my post again, you know it is true) and I am entertained  reading what they say about price changes.

Aren't the whales worried at all about the fact that these dumps are causing some people to seriously give up and walk away from Bitcoin?  I would think that they would hope, at some point, for the price to rise.  If more buyers just walk away with no intention to return the whales could just be shooting themselves in their own foot with these dumps.  I can understand their desire to use their stash of coins to make more, but they can manipulate the market at a higher point later just by giving the market some "breathing room" and letting it rise.  But what do I know?    Just a small holder here.

Same question I have BitChick.  It really seems as if more is going on here than just a whale with a lot of coins selling.  Someone seems to have an endless supply of coins and is actively trying to suppress a market that would naturally rise if not for the massive sell walls.  If they are trying to destroy market confidence, I say it's likely working so far.

Remove those walls, and I guarantee that we'd be at 500+ in 2 weeks, and with rising volume.

But no... don't even so much as breathe the word 'manipulation' on these sub, lest you get completely ridiculed and called a tinfoil hat wearer.  Even though the whales' intentions are so obvious an 8-year old could figure it out with the data.

I have heard several large companies, such as Coinbase, mention that they were concerned that price volatility would cause some people not to use Bitcoin.  I took that to mean that perhaps they were going to be actively trying to keep the price stable.  The question though would be that in trying to provide "stability" are they just causing people to choose not to invest in BTC at all?  We are still so early in this that one of the attractive benefits of BTC is that we are early and there are large increases in price that can happen.  Sure, when the market is more saturated and we have greater adoption and use worldwide then a more stable price would be desirable, but during this growth phase we need to stimulate interest and nothing stimulates that more than a nice bubble!  

[oda.krell]

Same question I have BitChick.  It really seems as if more is going on here than just a whale with a lot of coins selling.  Someone seems to have an endless supply of coins and is actively trying to suppress a market that would naturally rise if not for the massive sell walls.  If they are trying to destroy market confidence, I say it's likely working so far.

Remove those walls, and I guarantee that we'd be at 500+ in 2 weeks, and with rising volume.

But no... don't even so much as breathe the word 'manipulation' on these sub, lest you get completely ridiculed and called a tinfoil hat wearer.  Even though the whales' intentions are so obvious an 8-year old could figure it out with the data.

Right.

So how exactly is this different from $32 to $2 in 2011?

If we're subject to "manipulation" now, we most certainly were manipulated back then.

If we were manipulated back then, how exactly did that work out for the manipulator / Bitcoin in general?

tl;dr People need to relax. Price goes up, price goes down. Sometimes the latter takes longer than the former.

[vipgelsi]

I was so happy at 600 

[ChartBuddy]

Explanation

[FNG]

But no... don't even so much as breathe the word 'manipulation' on these sub, lest you get completely ridiculed and called a tinfoil hat wearer.  Even though the whales' intentions are so obvious an 8-year old could figure it out with the data.

I'm of the opinion that a large buyer is purchasing off exchange blocks and dumping on exchanges to build a massive and cheap stash. Nothing else makes much sense. Sure people panic but many of the sales come when you would least expect someone to panic

This guy already has a massive stash. This behaviour is not of someone selling to buy back cheap. It just isn't.

It's not buying back. It's setting his price on exchanges so he can buy off-exchange.

Miners / bitpay, ect use exchange prices to sell blocks. Drive down the exchange price and you get a lot more btc for your money

[Torque]

Same question I have BitChick.  It really seems as if more is going on here than just a whale with a lot of coins selling.  Someone seems to have an endless supply of coins and is actively trying to suppress a market that would naturally rise if not for the massive sell walls.  If they are trying to destroy market confidence, I say it's likely working so far.

Remove those walls, and I guarantee that we'd be at 500+ in 2 weeks, and with rising volume.

But no... don't even so much as breathe the word 'manipulation' on these sub, lest you get completely ridiculed and called a tinfoil hat wearer.  Even though the whales' intentions are so obvious an 8-year old could figure it out with the data.

Right.

So how exactly is this different from $32 to $2 in 2011?

If we're subject to "manipulation" now, we most certainly were manipulated back then.

If we were manipulated back then, how exactly did that work out for the manipulator / Bitcoin in general?

tl;dr People need to relax. Price goes up, price goes down. Sometimes the latter takes longer than the former.

It's different because that 2011 bubble was massively overbought compared to the number of users at the time, and the extent of the sell off was over after about 5-6 months.

This last 2013 bubble I don't believe was massively overbought.  But the downturn has been going on for 10 months straight (coming up on a full year soon), and the manipulation of the market downward is STILL going on, as well as ongoing suppression.  Doesn't make sense for it to last this long, unless someone has massive incentive (as well as coins/funds) to continue to suppress it further.  And btw NO FAKE BAD NEWS NEEDED.

[NotLambchop]

... Drive down the exchange price and you get a lot more btc for your money

More BTC that's now worth less.

[BitChick]

But no... don't even so much as breathe the word 'manipulation' on these sub, lest you get completely ridiculed and called a tinfoil hat wearer.  Even though the whales' intentions are so obvious an 8-year old could figure it out with the data.

I'm of the opinion that a large buyer is purchasing off exchange blocks and dumping on exchanges to build a massive and cheap stash. Nothing else makes much sense. Sure people panic but many of the sales come when you would least expect someone to panic

This guy already has a massive stash. This behaviour is not of someone selling to buy back cheap. It just isn't.

It's not buying back. It's setting his price on exchanges so he can buy off-exchange.

Miners / bitpay, ect use exchange prices to sell blocks. Drive down the exchange price and you get a lot more btc for your money

You would think that the miners could figure out a way to manipulate the price upwards then, for their own benefit?  Perhaps seriously slowing down mining when the price is this low or using some cash reserves to pump up price to sell higher?

[justusranvier]

More BTC that's now worth less.

More BTC that is temporarily trading at a lower price.

[600watt]

But no... don't even so much as breathe the word 'manipulation' on these sub, lest you get completely ridiculed and called a tinfoil hat wearer.  Even though the whales' intentions are so obvious an 8-year old could figure it out with the data.

I'm of the opinion that a large buyer is purchasing off exchange blocks and dumping on exchanges to build a massive and cheap stash. Nothing else makes much sense. Sure people panic but many of the sales come when you would least expect someone to panic

1. buy off exchange
2. wait for price to go up a little
3. dump 20% of 1. on exchange
4. buy off exchange for new low
5. repeat

this way a multi million purchase could easily pull through with 30% discount or more. now that is just one large purchase. i bet there are more than just one. squeezing it a little moah... just a liiiiittle moah...

btc is a victim of its own success (lol) and price is killed not by enemies but by supporters with deep pockets...

[spooderman]

But no... don't even so much as breathe the word 'manipulation' on these sub, lest you get completely ridiculed and called a tinfoil hat wearer.  Even though the whales' intentions are so obvious an 8-year old could figure it out with the data.

I'm of the opinion that a large buyer is purchasing off exchange blocks and dumping on exchanges to build a massive and cheap stash. Nothing else makes much sense. Sure people panic but many of the sales come when you would least expect someone to panic

This guy already has a massive stash. This behaviour is not of someone selling to buy back cheap. It just isn't.

It's not buying back. It's setting his price on exchanges so he can buy off-exchange.

Miners / bitpay, ect use exchange prices to sell blocks. Drive down the exchange price and you get a lot more btc for your money

You would think that the miners could figure out a way to manipulate the price upwards then, for their own benefit?  Perhaps seriously slowing down mining when the price is this low or using some cash reserves to pump up price to sell higher?

I'm not sure if you really thought that through.....

[NotLambchop]

...
You would think that the miners could figure out a way to manipulate the price upwards then, for their own benefit?  Perhaps seriously slowing down mining when the price is this low or using some cash reserves to pump up price to sell higher?

...
The miners need to unionize!

Miners, unite!
You have nothing to lose but your chains!
You are the Bitcoin proletariat, your struggle is the class struggle!
If more than 51% of you unionize, you won't have to plead, you could DEMAND more $ per BTC, or else fork the fat, greedy oppressor!
The so-called "early adopters" will HAVE TO mortgage their fancy wives and houses to to protect their ill-gotten Bitcoin spoils.
The price will skyrocket, everyone will eat peaches and cream!
Fight the power!

UNION POOL NOW!

[Schickeria]

I've noticed that "bearwhale" is now some sort of deity cult figure. Apparently he has a huge power over the markets. Reminds me of KARHU, but that one was a joke.

Repent!

Bow before your new God.

https://www.reddit.com/r/BitcoinMarkets/comments/2hyl9c/daily_discussion_wednesday_october_01_2014/ckxbdu6

EDIT: I wonder how many people in this thread don't also frequent r/BitcoinMarkets.

He left out the 2k walls that the guy put up to stall the rally.  Every time the price dipped below the next 5USD level, he moved his walls down.

With no evidence, I have always believed the guy killed off either a bubble or a rise to a "normal" level of 800USD.  Instead, we have seriously damaged the reputation of btc by crashing down to the 300's.

Edit: I see no reason to read /r/bitcoinmarkets.  Short trolls and book talking dominate the subreddit.  This thread has several of the major whales in it (please don't delete my post again, you know it is true) and I am entertained  reading what they say about price changes.

Aren't the whales worried at all about the fact that these dumps are causing some people to seriously give up and walk away from Bitcoin?  I would think that they would hope, at some point, for the price to rise.  If more buyers just walk away with no intention to return the whales could just be shooting themselves in their own foot with these dumps.  I can understand their desire to use their stash of coins to make more, but they can manipulate the market at a higher point later just by giving the market some "breathing room" and letting it rise.  But what do I know?    Just a small holder here.

Same question I have BitChick.  It really seems as if more is going on here than just a whale with a lot of coins selling.  Someone seems to have an endless supply of coins and is actively trying to suppress a market that would naturally rise if not for the massive sell walls.  If they are trying to destroy market confidence, I say it's likely working so far.

Remove those walls, and I guarantee that we'd be at 500+ in 2 weeks, and with rising volume.

But no... don't even so much as breathe the word 'manipulation' on these sub, lest you get completely ridiculed and called a tinfoil hat wearer.  Even though the whales' intentions are so obvious an 8-year old could figure it out with the data.

What's very small minded is not the assumption of some intentionally enforced bear market* (bear raid or manipulation or whatever) but the absolute preposterous claim that it is always one guy mounting all the sell walls and executing all larger sell orders. At this point posters are starting to ridicule themselves.

*If if the bear raid exists, what does it mean? Is there any furhter difference to a normal market behaviour? Some difference how market participants are reacting or should react. For me as market observer it results exactly the same.
People need something to cry about? Is this the difference?