What about you Octaft? You want to chime into the discussion to attempt to arm chair psychologize based on incomplete information or describing the situation of others without revealing your own details?
Are you buying, selling, holding or what? Do you have any BTC? or are you waiting for BTC prices to sink to lower levels? What has been your philosophy and practice regarding BTC? Have you been able to follow it? Has the market gone how you have predicted? Do you bang only 10s?
From Oct 6th:
Pretty sure he's spreading around the wealth so he can
1) get more money to give support if the price continues to drop
2) buy more bitcoins at this price, in the event he was the one selling us down and has a lot of money already and
3) perhaps entice big players who see this action to come along and buy, thus giving more people with lots of cash the incentive to help him keep the price up. If they enter, expect a nice run-up. If they don't, expect a rise followed by a drop when the whale recognizes this fact, and needs to take profit so he can prepare to defend at a lower price. He makes money all the way, and if the price skyrockets, well I'm sure the dude would rather have 15k bitcoins at $2000 than 30k bitcoins at $200.
Seems bullish to me, and quite generous of him to leave the wall there and give others a chance to buy. I'd buy, but I'm just some ahole on the internet, so listen to me at your own risk. After all, I could be back here in a few weeks saying "whoops!"
Obviously if I said it seems bullish, I bought, right into that wall. I have a target for this run-up, which I will not disclose but at which point I will start taking profit (I kind of already am, but still holding a reasonable chunk of what I bought). I do not think we are out of the bear market yet, although there is a greater than 0 chance that we are heading out of it. If we break-out after I sell, I can always take a small loss and rebuy.
I believe I posted something on here around $800-900 urging people to exercise caution, but -- as I expected -- nobody listened. I sold most of what I had around that time, because people I have known for years who never gave a shit about bitcoin started asking me if they should get in, so I told them "dear god no you missed this train sit it out!" and used that as an indication that I should sell. There was also a (popular?) internet bitcoin market analyst who was calling for a potential 3200 top, which suggested to me we hit "new paradigm." I held onto a little bit, of course, and that's an amount I'll take to the grave or to a million, because I like bitcoin and don't want to be all the way out. I also watched the trading very closing during that time, and noticed that nobody was really buying once we broke over 1000. I could have been wrong, and I might have missed out on a nice chunk, but I figured hey, you know, let's not be too greedy.
Before I make myself sound like a genius, I also hedged my bets by selling small portions on the way up. The bulk was sold 50-150 from the top or so. I do this both ways to divest myself and help keep emotions out of my decisions.
When I made that comment to chessnut about "well I think you got your bearish sentiment now" a while back on that last drop to 350 (the one before the drop to 275), that was my hint that I was buying. I sold a bit too soon on that one, but hey, profit is profit.
Just because I don't shout my opinion to the rooftops to make sure everyone heard it, doesn't mean I'm not sharing. You've just got to pay attention, man. I generally trade big moves; I don't really day trade much, although occasionally I will use sentiment to try to catch falling knives and tops. This last purchase however was basely solely on my confidence in upward manipulation by that big wall that the guy was obviously going to buy out (at least a decent portion of) himself, and he would be okay with selling the rest to others for the reasons I quoted.
If you look back, notice how a few days later I mention that there had been little buying pressure, then suddenly once a 30k wall shows up, magically "everyone" is buying.
Poll
