Look at the bidwalls when the pirce drops fast.

[Edward50]

If anyone has noticed that when the price drops fast, faster than the market manipulators can put in the phony bid walls. It usually shows just how weak the bitcoin market really is without the big players.

You can see that even with such a low price now in the $3.00 range, most of the increments have less than a thousand. Before long the manipulators will come into the market and inflate all these prices. I have noticed this from the drop of $30. This shows that most of the bids you see are just fluff. The 10,000 bidwall at 3.2 was just placed them from $4.00, as earlier the 3.2 mark was I believe under a thousand.

Most of you who are betting on prices going higher really have to take a look at just how weak the demand is for bitcoins. You guys buying thinknig the price will go higher are really betting on if the few big players (manipulators) will drive the price up higher. But after what I have seen today, where one of these manipulators fools put up a 30,000 bidwall, that looked to be totally sold into, I doubt that they will continue to try and shore up the bitcoin price. They have to realize most of the comptuer geeks into bitcoins are cheap, and will just mine their bitcoins and sit it out for the price to just go lower. They have to also realize that the early adaptors probably still have over 500,000 bitcoins that they are still looking to unload.

The end should be near, this whole bitcoin ponzi scheme should all come crashing down soon. Which is good because we can finally start to use bitcoin for fun purposes, like gambling and porn, instead of most of the fools hoarding them thinking they will be worth a small country in a few months.

One thing to note is that with these lower prices, the demand should be much higher. Also, the following prices are also somewhat manipulated already as I copied this late.

Bid   3.1   300
Bid   3.15   3.18
Bid   3.2   10713.1
Bid   3.25   1833.43
Bid   3.3   1664.33
Bid   3.35   127.81
Bid   3.4   584.55
Bid   3.45   104.93
Bid   3.5   2994.65
Bid   3.55   872.81
Bid   3.6   4903.03
Bid   3.65   3280.2
Bid   3.7   1394.52
Bid   3.75   436.13
Bid   3.8   2311.04
Bid   3.85   1397.43
Bid   3.9   1382.49
Bid   3.95   261.08

[grod]

Yup, things are finally looking up for bitcoin.  Capitulation can't be far off -- then we build a solid base and have realistic growth in both user base and valuation.  Time for the proletariat to rise up and throw off the opresive yoke of the pyramid built on top of bitcoins!

That said, speculators, thanks for the $700 you've given me over the past few months.  I'll put it to good use supporting the bitcoin network once the 7 series ATI cards show up.

[Edward50]

Update as of 2:06 AM eastern time, 10/17/11
Take a look at how weak the bids are before the manipulators come in and increase them all. These are the bids of the average investor, not the manipulators trying to make money. Look how weak it is right now. Again, you are crazy to buy, you are betting on the manipulator pushing the prices back up.

Take note of all the bids below 1,000 bitcoins. This clearly shows that there is not much demand.


Bid 2.3  290.33
Bid 2.35 767.66
Bid 2.4  371.09
Bid 2.45 92.54
Bid 2.5  4134.71
Bid 2.55 455.03
Bid 2.6  564.83
Bid 2.65 2143.07
Bid 2.7  1357.9
Bid 2.75 1758.15
Bid 2.8  2524.34
Bid 2.85 135.71
Bid 2.9  858.04
Bid 2.95 104.64
Bid 3  8770.97

[Minsc]

At some point it will be back up to $30 again, but it'll take at least a year.

[RyNinDaCleM]

Update as of 2:06 AM eastern time, 10/17/11

Take note of all the bids below 1,000 bitcoins. This clearly shows that there is not much demand.

Are you kidding? Some of us don't buy 1000BTC at one time!

I happen to buy in groups of a hundred(ish)!

[Nesetalis]

i've got such little money right now... oh how I wish i had a few thousand to drop on bitcoins today.
I was expecting the fluctuations to keep steadily declining until late november or early december...

[RyNinDaCleM]

i've got such little money right now... oh how I wish i had a few thousand to drop on bitcoins today.
I was expecting the fluctuations to keep steadily declining until late november or early december...

I still very well might go down further than we've seen so far today!

[Nesetalis]

maybe, but i'm not particularly worried... i'm buying at a decent price with half my funds... i'll save the other half in case it goes down.. or just take them back :p

[Technomage]

At some point it will be back up to $30 again, but it'll take at least a year.

+1

We're definitely taking the route of a slow recovery. It will be based more on actual achievements and growth of Bitcoin as a currency, another hype bubble is not going to happen. Hype based on achievements possibly, but at the moment there's nothing to build that hype on.

It's actually good for Bitcoin in some ways that we are seeing a change of hands. The price will finally stabilize at least in the sense that the continuous series of new lows will end. This is very important. A currency that only goes down and predictably down, is not very good. Especially if it goes significantly down.

This will change and I think that the $1.5 - $2.5 level is very critical. It's not a question of "will it hold", fact is Bitcoin economy is only worth around 1 to 4 million USD at dollar parity based on the actual amount of Bitcoins being traded, and that is clearly an undervalued number. A very large majority will agree with this.

It's obviously possible that the price will be pushed even below that range temporarily but it will be only a spike. Anyone smart enough understands Bitcoin is worth more than 1-4 million dollars which is what its worth at dollar parity.