Someone is Jobbing this Market

[Synaptic]

Its really sad when uninformed people abuse the word manipulation because they don't understand some basic fundamentals about a market (any market).

Please, teach us what these "basic fundamentals" are as relates to the BTC market...

...please, do.

[Oldminer]

I though so to, but there is always some kind of drift in a range, In my years (looking at 10's thousands of charts) Ive never seen a flat lining effect like this after such a huge range of trade.

 

^^ This

[mellowhead]

I'm more concerned about the 9.3M BTC sent in the last 24 hours. That's 140% of the entire BTC economy, sent in less than 24 hours and not through exchanges.

See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours

http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.

[Epinnoia]

I'm more concerned about the 9.3M BTC sent in the last 24 hours. That's 140% of the entire BTC economy, sent in less than 24 hours and not through exchanges.

See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours

http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.

Just a guess, but probably people freaking out about their own personal security measures after the heist.  Whether they're sending to wallet services, or to wallet files on thumbdrives, doesn't matter.  It's probably nothing more than people sending money to themselves in various ways.

[Synaptic]

I'm more concerned about the 9.3M BTC sent in the last 24 hours. That's 140% of the entire BTC economy, sent in less than 24 hours and not through exchanges.

See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours

http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.

Just a guess, but probably people freaking out about their own personal security measures after the heist.  Whether they're sending to wallet services, or to wallet files on thumbdrives, doesn't matter.  It's probably nothing more than people sending money to themselves in various ways.

Sending from address A to address B makes sense under your umbrella.

Sending from address A to address B and back to address A, paying 50 something BTC on a ~9k transaction as an actual example, doesn't. At all.

At all.

[mellowhead]

I'm more concerned about the 9.3M BTC sent in the last 24 hours. That's 140% of the entire BTC economy, sent in less than 24 hours and not through exchanges.

See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours

http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.

Just a guess, but probably people freaking out about their own personal security measures after the heist.  Whether they're sending to wallet services, or to wallet files on thumbdrives, doesn't matter.  It's probably nothing more than people sending money to themselves in various ways.

Could be. If I had 50,000 BTC, a good way to make it hard for someone to steal would be to put it into 1000 different wallets and then encrypt them all.

[niemivh]

The trading in BTC is characteristically volatile, too much so, but for the past three days there are huge blocks of BTC swirling around the globe and the market is flat, not range bound but outright absolutely flat.  Who thinks this is normal? This to me is impossible (considering standard volitility) without large manipulation. We want a more stable market but this is flat lining, "the patient is now dead" price action is also dysfunctional for BTC. Too many questions, too much weirdness, not a natural market.

Someone is always jobbing a market, that's what markets do.  Get jobbed.  Either by the biggest fish in the sea or by the government or regulatory body.

If you are looking for a "free market" keep looking.  Let me know if you find one by the way, I'd love to see a mythological creature.

[AtlasONo]

Batten down the hatches, there's a storm brewing for the weekend.

[AtomicTrader]

Ya, with the price falling from the 19-20 range going into the weekend, I think dark clouds are on the horizon.

[PGPpfKkx]

oh my god its falling. that is the end of bitcoin. it was a nice ride. i dont have a parachute. it was nice while it lasted.

all from irc.all the previous weekend. all wrong.

[niemivh]

I'm glad that the market is doing exactly like I'm predicting.

Next prediction: downward drift to $15 range @ about a 75% certainty.  May trigger a panic sell off with the bad press.

[comboy]

Somebody is selling a lot in dark pool just below $20 stopping price from going up. It does not swing very much down also because there's another big dark at $18.

Yes, compared to 30% value swings that looks  But AFAIR remember week ago everybody was begging for stabilization.

[RomertL]

I'm glad that the market is doing exactly like I'm predicting.

Next prediction: downward drift to $15 range @ about a 75% certainty.  May trigger a panic sell off with the bad press.

hehe might be good prediction, 16.5 now. Don't think there will be the same panic as last time though, since it recovered at least partly. Should be lot's of newcomers wanting to get in due to the massive press-coverage (even though about 50% is somewhat negative).

Shit it got back to 17.35 while I was writing this haha. You guys who got bored of the stability, here you have your volatility

[samr7]

I'm more concerned about the 9.3M BTC sent in the last 24 hours. That's 140% of the entire BTC economy, sent in less than 24 hours and not through exchanges.

See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours

http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.

Perhaps this is just someone with an account where most of the balance was received in a single transaction.  It starts out receiving 50,000 BTC in one transaction in block 93863, and sends 50 BTC at a time to other addresses.  When there is a single input transaction that's being drawn from that is larger than the output, the balance of the input transaction appears to be sent to a newly generated address.

The fact that the balance of the big transaction also looks like it's being moved around is technical smoke and mirrors.  Or maybe it really is being moved?

[mellowhead]

I'm more concerned about the 9.3M BTC sent in the last 24 hours. That's 140% of the entire BTC economy, sent in less than 24 hours and not through exchanges.

See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours

http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.

Perhaps this is just someone with an account where most of the balance was received in a single transaction.  It starts out receiving 50,000 BTC in one transaction in block 93863, and sends 50 BTC at a time to other addresses.  When there is a single input transaction that's being drawn from that is larger than the output, the balance of the input transaction appears to be sent to a newly generated address.

The fact that the balance of the big transaction also looks like it's being moved around is technical smoke and mirrors.  Or maybe it really is being moved?

Whether the large remainder is being moved to a different wallet or not is semantics I think. The interesting thing to me is that it's being sent out in relatively consistent amounts. I have my own suppositions as to why, but was interested in what other people think about it.

[finnthecelt]

I'm glad that the market is doing exactly like I'm predicting.

Next prediction: downward drift to $15 range @ about a 75% certainty.  May trigger a panic sell off with the bad press.

And then the difficulty rating goes down? Yayyyyy!

[niemivh]

I'm more concerned about the 9.3M BTC sent in the last 24 hours. That's 140% of the entire BTC economy, sent in less than 24 hours and not through exchanges.

See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours

http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.

Perhaps this is just someone with an account where most of the balance was received in a single transaction.  It starts out receiving 50,000 BTC in one transaction in block 93863, and sends 50 BTC at a time to other addresses.  When there is a single input transaction that's being drawn from that is larger than the output, the balance of the input transaction appears to be sent to a newly generated address.

The fact that the balance of the big transaction also looks like it's being moved around is technical smoke and mirrors.  Or maybe it really is being moved?

Counterfeiting!!!!

SELL!!!!!!!111!!!!1 SELL!1!!!!! SELL!!!111!1!!!

[imperi]

I'm more concerned about the 9.3M BTC sent in the last 24 hours. That's 140% of the entire BTC economy, sent in less than 24 hours and not through exchanges.

See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours

http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.

Perhaps this is just someone with an account where most of the balance was received in a single transaction.  It starts out receiving 50,000 BTC in one transaction in block 93863, and sends 50 BTC at a time to other addresses.  When there is a single input transaction that's being drawn from that is larger than the output, the balance of the input transaction appears to be sent to a newly generated address.

The fact that the balance of the big transaction also looks like it's being moved around is technical smoke and mirrors.  Or maybe it really is being moved?

Counterfeiting!!!!

SELL!!!!!!!111!!!!1 SELL!1!!!!! SELL!!!111!1!!!

This. The market will plummet from the manipulation and possible counterfeiting. It's likely that someone cracked SHA-2, possibly with a quantum computer. Prices will plunge to $5/BTC by noon Saturday (EST). Sell. Everything.

[hugolp]

Maybe the world is not ready for a free market. They shout manipulation and speculation when prices rise quickly. They shout manipulation and nefariousness when prices fall quickly. And when prices stay flat? Manipulation, it must be!

I'll propose an alternative theory = Bitcoin is brand new, and will be extremely volatile and unpredictable for a long time. Part of true volatility is the 2nd order - even the volatility itself will be volatile! Stop obsessing with charts.

The monetary concept of Bitcoin is solid. So, too, is the technology. Given this, if you believe in Bitcoin go out and build businesses around it. Buy with it, sell with it, and trade with it. Stop worrying if the short-term dollar/btc exchange rate is not precisely where you think it should be. Let free markets be free, and enjoy the freedom, tumultuous (or flat) as it is.

+1

[RomertL]

I'm more concerned about the 9.3M BTC sent in the last 24 hours. That's 140% of the entire BTC economy, sent in less than 24 hours and not through exchanges.

See:
http://www.bitcoinwatch.com - Bitcoins sent last 24 hours

http://blockexplorer.com/ - Largest transactions (last 300 blocks) - Look at all these largest transactions - it's the exact same money being moved from address to address over and over again. Very weird.

Perhaps this is just someone with an account where most of the balance was received in a single transaction.  It starts out receiving 50,000 BTC in one transaction in block 93863, and sends 50 BTC at a time to other addresses.  When there is a single input transaction that's being drawn from that is larger than the output, the balance of the input transaction appears to be sent to a newly generated address.

The fact that the balance of the big transaction also looks like it's being moved around is technical smoke and mirrors.  Or maybe it really is being moved?

Counterfeiting!!!!

SELL!!!!!!!111!!!!1 SELL!1!!!!! SELL!!!111!1!!!

This. The market will plummet from the manipulation and possible counterfeiting. It's likely that someone cracked SHA-2, possibly with a quantum computer. Prices will plunge to $5/BTC by noon Saturday (EST). Sell. Everything.

Really, it's kind of provocative that thees trolls think we're so easy manipulated. Were they trolls from the beginning or somebody hacked their accounts? As we know, bitcoins are almost impossible to counterfeit, and quantum computer will not be commercial for at least a decade. Weak man...