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Author Topic: How to manipulate the market  (Read 1167 times)
bitcoinBull
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July 28, 2011, 01:30:51 AM
 #1

Step 1:  Have a lot of USD and a lot of BTC - market price at $13.90
Step 2:  Place an ask order for $150k BTC at $14.25 - build an ask wall
Step 3:  Sell $100k worth of BTC - break the bid wall
Step 4:  Hope for a sell-off
Step 5:  buy them back cheaper!

Pretty clear there's some big players now (as opposed to the early days).  It now takes $100k to move the market (used to take $10k).

When the market is bearish and thin, its easier to manipulate down (spark panic selling).  When the market is thin and bullish, easier to manipulate up (spark panic buying).

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NamelessOne
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July 28, 2011, 01:49:45 AM
 #2

Yeah, I just spotted that too. Watched it happen live and came to same conclusion as you. Damn annoying.
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July 28, 2011, 01:55:33 AM
 #3

If you actually know this is going on it is free money for you, how is that annoying?

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July 28, 2011, 01:57:25 AM
 #4

I bought in too high shortly before this recent drop. Thus... I found it annoying.
bitcoinBull
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July 28, 2011, 02:26:42 AM
 #5

Its only free money if it actually sparks a sell-off.

Otherwise, the market holds.  

The seller sees this and changes the bet.  Removes the ask and buys back higher.  Big buys in a thin market can start a rally, and panic buying.

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July 28, 2011, 02:53:40 AM
 #6

I sold half at $14.25 when this happened.

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July 28, 2011, 03:58:01 AM
 #7

The thing is... the market always levels out at the median of the peak you've created.

For instance: if the price is $12.50 and you drive it up to $13.50, (12.50 + 13.50)/2 = $13.00 is where the price will land.

Sure you can sell everything you bought from $12.50 to $13.00 as profit, but you lost money on everything from $13.00 to $13.50. So it cancels out.
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