If the whales let the price drop to <$400 they are stupid

[Mythul]

Dear whales,

If you let the price drop that low many people will lose their confidence in BTC. So you would rather lose millions of new people getting involved in crypto and driving the price up to 2k-5k-10k only so you could get a few cheap coins ?

It's like losing $1.000.000 just to make some quick $100. Think about it 

[podyx]

"be greedy when others are fearful"

time to buy? 

[TERA]

Dear whales,

If you let the price drop that low many people will lose their confidence in BTC. So you would rather lose millions of new people getting involved in crypto and driving the price up to 2k-5k-10k only so you could get a few cheap coins ?

It's like losing $1.000.000 just to make some quick $100. Think about it  

That's not how btc works. Nobody 'lost their confidence' in btc when it dropped from 135 to 66 in June (after 266 ath). Hedge funds started buying it. It rocketed to 100. then 140. then 220. then 1250... It can happen again. Heck in 2011 it recovered after dropping from $32 to $2. As soon as the trend turns back up then suddenly everyone is bullish again.

[Mythul]

Dear whales,

If you let the price drop that low many people will lose their confidence in BTC. So you would rather lose millions of new people getting involved in crypto and driving the price up to 2k-5k-10k only so you could get a few cheap coins ?

It's like losing $1.000.000 just to make some quick $100. Think about it  

That's not how btc works. Nobody 'lost their confidence' in btc when it dropped from 135 to 66 in June (after 266 ath). Hedge funds started buying it. It rocketed to 100. then 140. then 220. then 1250... It can happen again. Heck in 2011 it recovered after dropping from $32 to $2. As soon as the trend turns back up then suddenly everyone is bullish again.

Yes but I guess back then BTC was not as mainstream as it is today.

[GigaCoin]

"be greedy when others are fearful"

time to buy? 

doesnt always work

[skyhigh]

Mythul, basically you are saying you know better then them, yet they have all the coins and you dont. why would you care about the whales? or you just fearful about your stack? cant you buy more if price drops below $400 or will you loose confidence and dump the rest of your stack close to the bottom, only to chase it again when the sentiment will turn and everyone is bullish and screaming about the runup to $10k per coin in weeks if not days.

Just buy more if think its undervalued, nothing else matters.

[seleme]

<400 are wet dreams only, don't worry.

[zby]

Dear whales,

If you let the price drop that low many people will lose their confidence in BTC. So you would rather lose millions of new people getting involved in crypto and driving the price up to 2k-5k-10k only so you could get a few cheap coins ?

It's like losing $1.000.000 just to make some quick $100. Think about it 

If I were whale reading this I would think - 'it is better to sell now before the other whales sell and we lose millions of new people plus my profits'.

Just saying - I actually think it is time to buy now, but maybe not hold it too long.

[teukon]

As far as this speculation forum is concerned, I think we can take "Whales are not stupid." as axiomatic.

By the way, how many bitcoins does a trader need to be considered a whale these days?

[Carra23]

Big whales are stupid while you are smart. Makes sense.

[cosmofly]

Big whales like ass talk, ignore them

[Mythul]

See, the price is back to $740+ already. Nobody with influence I think wants a mega uber crash.

[MatTheCat]

See, the price is back to $740+ already. Nobody with influence I think wants a mega uber crash.

Bwahahahahaha!

You are sounding more and more desperate. I hope you don't mind, but I have made a small compendium of your posts from yesterday and the day before that:

Mass adoption is coming. Bitcoin will go up. Don't be stuck holding fiat.

Admit it dude you just want free coins. We all want that => won't happen. Too many people are waiting for $700, I would imagine 10x more wait for $500.
Not going to happen.

I am an optimistic bear. In the way that I want the price to fall a little so I can buy more cheap coins, so I am a selfish bear-bull.
I think all of us are bulls here otherwise why would we spend so much time on this forum right ?
And in no way will the price remain at $800 while the user base grows. Hell there aren't even enough decent exchanges to supply the potential buyers. Right now it is a pain in the ass to buy even a single bitcoin.

What a difference a day makes eh?

How do you know what the 'whales' want or don't want. It was quite apparent that some whales wanted the price held at $800, but is has become quite a apparent that other whales want to see the price go much lower and/or are just plain desperate to turn vaporous BTC into government backed fiat currency. I can tell this by the way that 2000 BTC orders were getting smashed into Bid wall all in one go.

What if the undisputed 'King Whale' Satoshi, with over 1 million BTC, was actually the NSA or CIA, and what if now that Bitcoin has had its Christening as 'decentralised internet money of freedom', that they now wanted to send BTC crashing back down to double digits in order to send the proles running for cover and to allow their Wall St mates to buy it all up at pennies on the dollar.

What if that were the case?

Or what if it weren't the case, and those massive 2000 BTC sell orders that have been responsible for bringing the market down from its tightly held $800 range really was just panicking whales desperate to turn BTC into fiat. Would that be any better?

To turn away from wild and foundless theories for one moment and turn our attention to technicals. Bitcoin now must take out $765 and hold above this level convincingly. If it can't do that then sell your holdings and/or be prepared for yet more blood and tears.

[Mythul]

You were right about some of the crash, I can give credit to that. What will happen will happen. Lucky I didn't invest more than I could afford to lose.

[keithers]

If the price were to somehow hit $400 or below, which I believe is very highly unlikely...it would be back to over $500 in less than 5 minutes...maybe even a shorter time than that...

[kellrobinson]

I think we have pretty solid support at about $500, if you look back a few months.

[keithers]

I don't think the "whales" as you refer to them are responsible for this last drop.   There is pretty significant fear spreading like wildfire with all of the Gox troubles making headline bitcoin news.   A lot of panic selling going on just like when all the China news rolled out to the masses.   

It will recover, probably just not as quickly as everyone hopes.   What we don't want to happen is what happened in China where the major merchants that were accepting bitcoin, pull back and stop accepting btc.   That would really be a major speed bump for us..

[Adrian-x]

OP. Hold!

Until Bitcoin distribution is optimal (resembling a normal distribution curve) the price will crash and be crazy, this is how it distributes into the right hands. If you believe it has potential just hold.

[byronbb]

Below $500 I would be shocked and worried. Sub $450...

[chessnut]

The Chart says a correction is needed down to 300-400. sorry. it's totally healthy. save your balls up and buy more.