BTC is being manipulated into stability. But why?

[piramida]

Apart from three periods of extreme volatility, totaling ~10 months in the past four years, bitcoin price has been amazingly stable, no matter what sensationalist heads from magazines want you to believe. I.e, for most of the time, it's like that, boring. It found its current level, and until fundamentals change, it will be around. No mystery, no tin foil, just an equilibrium where all sellers sold and all buyers bought, pressure normalized and normal exchanges are taking place.

It is a surprisingly high level, too, I was expecting it to settle at least around $650, but my guess is as good as anybody's, i.e. not good at all. What I'm saying, we never had a settled price so close to the ATH before. It was 10% in 2011, then 37% in 2013, now something like 70%. Maturing fast? If this range of 800-1100 holds for another month.

[RodeoX]

The mysterious "manipulator" is back then. He/she must sure love bitcoin. This must be costing millions of dollars a day. 
As mentioned above, bitcoin has always had long periods of stability. You don't hear much about it because it's boring.

[Frosty]

Well, the bots are trading with real money.

are they??  where are their fillings?  weekly reports? are they regulated at all?  3rd party auditor sign off?

perhaps bitstamp and coinbase are just playing with a stacked hand (big pockets) and btc-e may or may not be fudging...  but gox and the china exchanges are probably suspect more than anything

The only proof is that real people's buy and sell orders are being filled. You can't do that with imaginary bitcoins or dollars.

Of course I haven't actually withdrawn funds from stamp lately. Hmm...

Withdrew 400$ from Bitstamp just yesterday, went smooth and took one day with a SEPA transfer.

[DPoS]

Well, the bots are trading with real money.

are they??  where are their fillings?  weekly reports? are they regulated at all?  3rd party auditor sign off?

perhaps bitstamp and coinbase are just playing with a stacked hand (big pockets) and btc-e may or may not be fudging...  but gox and the china exchanges are probably suspect more than anything

The only proof is that real people's buy and sell orders are being filled. You can't do that with imaginary bitcoins or dollars.

Of course I haven't actually withdrawn funds from stamp lately. Hmm...

Withdrew 400$ from Bitstamp just yesterday, went smooth and took one day with a SEPA transfer.

I think people would like to know about $4,000 or $40,000 liquidity moves

[notme]

Oh no!  It's cuddlefish and his #bitcoin-cabal!

[chessnut]

Imagine if you are a whale, you can set a rock solid sell wall at say 830, cause a rush, and have a rock solid buy wall to meet the panic at 820. do that all day and your stash grows, stability increases, and everyone wins but the scalpers.
I think that is a responsible thing to do if you own a lot of bitcoins, back your own currency.
of coarse, if it remains this stable for much longer, the money transfer system will become very profitable, and therefore attract more investors and then we start over again.

[dropt]

Back in 2011 "the manipulator" threads were far better.

I miss those 

[fonzie]

Back in 2011 "the manipulator" threads were far better.

I miss those 

Could anyone provide a link? Thanks

[FierceRadish]

https://bitcointalk.org/index.php?topic=53654.msg639522#msg639522

[Holliday]

https://bitcointalk.org/index.php?topic=53654.msg639522#msg639522

Wow. OP is still saying the same shit. Thanks for that.

[Stevenrm87]

https://bitcointalk.org/index.php?topic=53654.msg639522#msg639522

Wow. OP is still saying the same shit. Thanks for that.

Missed probably one of the greatest opportunitys in his lifetime to get very very wealthy. Arguing about 2 or 3 $ bitcoins ha! No wonder he hates BTC. Lesson should be learned by looking at Edward. Living your life full of regret SMH

[FierceRadish]

https://bitcointalk.org/index.php?topic=53654.msg639522#msg639522

Wow. OP is still saying the same shit. Thanks for that.

A dip into the bowels of old BitcoinTalk threads always helps put things in perspective.

[Holliday]

https://bitcointalk.org/index.php?topic=53654.msg639522#msg639522

Wow. OP is still saying the same shit. Thanks for that.

A dip into the bowels of old BitcoinTalk threads always helps put things in perspective.

Agreed. My memory doesn't do it justice.

[Tzupy]

https://bitcointalk.org/index.php?topic=53654.msg639522#msg639522

Wow. OP is still saying the same shit. Thanks for that.

OP? Really?

The mistake of that OP, back in 2011, not the same as the OP in this thread, was that he didn't
understand where the bottom was. Mid November 2011, after a long bear market, the price dropped
from 32$ (in June) to 2$, and that 2$ was strong support, proved by the huge volume.
By comparison with 2011, the current bubble is like late June, early July, when price was relatively stable 13$ - 17$.

[piramida]

https://bitcointalk.org/index.php?topic=53654.msg639522#msg639522

Wow. OP is still saying the same shit. Thanks for that.

I remember that time when we first bounced off $2 for real, and everyone was buying. I really laughed at Edward while running to the bank to do a wire to mtgox (too small of a wire, in retrospective, but anyway, served much better than believing in "TEH MANIPULATOR").

[byronbb]

IF bitcoin is going to be used as a payment option by retailers then the price will become managed by the payment processors. The processors will be forced to trade the market and manage large positions because selling  entire lots in one shot would obviously be counter productive. In fact if you have a huge amount of bitcoin and fiat on the exchanges then "manipulating" the price would be a profitable venture.

[MatTheCat]

IF bitcoin is going to be used as a payment option by retailers then the price will become managed by the payment processors. The processors will be forced to trade the market and manage large positions because selling  entire lots in one shot would obviously be counter productive. In fact if you have a huge amount of bitcoin and fiat on the exchanges then "manipulating" the price would be a profitable venture.

Yep, sounds plausible.

Any entity with a specific interest and deep enough pockets both in terms of USD and BTC, could have teams of experts and robots ride these markets like a bitch, with the aim of holding Bitcoin at a specific price range, and sucking up Joe Bloggs' usd and btc to fund the times when they need to take a sizeable hit in order to keep the ship afloat.

[aminorex]

Ever since the liquidity issues between Bitstamp and Bitfinex were worked out, volatility has plummeted.  If Mt.Gox finally took a little lead pill to cure its disease, >95% of the fiat/crypto market cap would be a liquid market, and most of the pathological catastrophes would be ended.   The swaps on BFX have done price discovery an amazing service.

[phillipsjk]

In the past month volume has bee relatively low.

I suspect early adopters are artificially keeping the price below $1000USD/coin.

This will cost them Bitcoin, but may not be a bad thing in the long-run. One of the criticisms of Bitcoin is that the early adopters control too much of the wealth.

By keeping the price stable; they can encourage Bitcoin adoption and spread coins around (reducing coin concentration) at the same time. In FIAT terms, how much they can buy with their Bitcoins may end up being about the same anyway.

[Peter R]

I suspect early adopters are artificially keeping the price below $1000USD/coin.

This will cost them Bitcoin, but may not be a bad thing in the long-run. One of the criticisms of Bitcoin is that the early adopters control too much of the wealth.

By keeping the price stable; they can encourage Bitcoin adoption and spread coins around (reducing coin concentration) at the same time. In FIAT terms, how much they can buy with their Bitcoins may end up being about the same anyway.

Indeed.  Zanglebert from the forum said it like this:

"To keep your coins, you must lose your coins."