Spike finished, going back to 2

[wobber]

Exactly how the most experienced people said! It's fun to watch but until bitcoin will have a solid economy, high prices can't be sustainable. We really need a more services and shops accepting BTC.

[gewure]

Exactly how the most experienced people said! It's fun to watch but until bitcoin will have a solid economy, high prices can't be sustainable. We really need a more services and shops accepting BTC.

2.74 and 2.5 look good as bottom for at least the next week. i doubt it will go much lower than 2.0 at all anytime. im willing to bet some 5 BTC for it.

..so i was bored, and added some random lines to this chart

[Dan The Man]

I predicted the same thing at the start of the week, apparently stability has been reached for the time being. I think something new might be afoot now. Especially considering the period of almost perfectly flat stability on Oct 26. Price fluxuations for the last day and a half seem kinda odd. I am kind of expecting a big crash still, but I can't say I'm certain anymore.

[miscreanity]

It's enough of a hassle to extract funds from the Bitcoin system into another currency that there will be residual wealth held in the micro-economy. If this is where that equilibrium forms, then all that's needed to maintain is a slow spread of awareness and experimental usage by Bitcoin neophytes; even if it's just a few thousand people (out of ~7 billion) buying a couple of BTC to see what it's all about.

Any significant interest generated and we could see another run up in exchange rates. It really wouldn't take much. Although the floor hasn't exactly become bedrock and there's a lot of technical damage yet to be repaired... still very precarious times for Bitcoin's early adoption phase.

It'll be interesting to see the extent that panic in the global economy at large affects Bitcoin.

[Dan The Man]

Here it goes, I am calling a spike up to 2.9 something in the next hour followed by a drop to 2.6, maybe 2.4 if the bidwall pulls out.

[Edward50]

To me it looks like the manipulator is trying to push the price back up. He keeps putting his bid walls higher, He now has every .05 cents reinforced by over 5,000 bitcoins. Anytime bitcoin raises .05 cents, he reinforces .05 below that point with a big bidwall.

He probably is buying them at the spot price also.

I don't know how much money he is willing to invest at this point, but it has seemed he has unlimited funds and does not want to give up on bitcoin.

Without the manipulator we would be seeing less than $1.00 right now.

Bid   2.1   778.5
Bid   2.15   2107.83
Bid   2.2   5060.48
Bid   2.25   3184.2
Bid   2.3   2480.02
Bid   2.35   2012.49
Bid   2.4   5923.39
Bid   2.45   5576.28
Bid   2.5   26322.9
Bid   2.55   2886.89
Bid   2.6   6318.72
Bid   2.65   7649.42
Bid   2.7   6683.69
Bid   2.75   2568.1
Bid   2.8   537.93

[Minsc]

Well it still is lingering around $3.  Err.  well it lingered lower than I thought but still lingered.  Typically from the end of the month through about the first two weeks in the month is when the price drops.  I also think the end of November will be the very bottom because a month before the 2012 change, people will buy coins anticipating the change.

Of course I don't have any spare money to invest so I am more open to predict stuff since if I'm wrong, I don't lose anything.  I probably won't have money till when the price is back up to $10 or even $20 then I buy coins unfortunately at a high rate.

[Minsc]

To me it looks like the manipulator is trying to push the price back up.

I think he's given up.  He's just following trends.

[322i0n]

To me it looks like the manipulator is trying to push the price back up. He keeps putting his bid walls higher, He now has every .05 cents reinforced by over 5,000 bitcoins. Anytime bitcoin raises .05 cents, he reinforces .05 below that point with a big bidwall.

He probably is buying them at the spot price also.

I don't know how much money he is willing to invest at this point, but it has seemed he has unlimited funds and does not want to give up on bitcoin.

Without the manipulator we would be seeing less than $1.00 right now.

Bid   2.1   778.5
Bid   2.15   2107.83
Bid   2.2   5060.48
Bid   2.25   3184.2
Bid   2.3   2480.02
Bid   2.35   2012.49
Bid   2.4   5923.39
Bid   2.45   5576.28
Bid   2.5   26322.9
Bid   2.55   2886.89
Bid   2.6   6318.72
Bid   2.65   7649.42
Bid   2.7   6683.69
Bid   2.75   2568.1
Bid   2.8   537.93

if this is happening then the most sensible reason is that he has sell orders that he is pushing the market into. as his sell orders are sold he reinforces his buy orders pushing the price slighty higher. When his big sell orders have been consumed he will pull his bids and let the market fall to a good price to buy. rinse and repeat.

this is what has been happening all along the downtrend.

[Minsc]

if this is happening then the most sensible reason is that he has sell orders that he is pushing the market into. as his sell orders are sold he reinforces his buy orders pushing the price slighty higher. When his big sell orders have been consumed he will pull his bids and let the market fall to a good price to buy. rinse and repeat.

this is what has been happening all along the downtrend.

He probably has a million coins.  He can't sell them all without making the price drop 80%.

[BTCurious]

I think it's going to spike to 3 again soon.

[322i0n]

if this is happening then the most sensible reason is that he has sell orders that he is pushing the market into. as his sell orders are sold he reinforces his buy orders pushing the price slighty higher. When his big sell orders have been consumed he will pull his bids and let the market fall to a good price to buy. rinse and repeat.

this is what has been happening all along the downtrend.

He probably has a million coins.  He can't sell them all without making the price drop 80%.

yeah, he is not going to dump any way that is not the style of the manipulator.  he has asks in place and moves the market up towards his asks.

[BTCurious]

Heh, the spike happened This is totally going to prop up the BTC prices for a while. Bye bye, 2.8

PS: It's fun how everyone talks about this manipulator as if he's just one guy… Obviously it's the bitcoinman sachs group.

[322i0n]

yeah its funny, keep watching.

[cypherdoc]

yeah its funny, keep watching.

its not funny if you're short Zhoutonged.

[Edward50]

Last nights bid order in RED, todays in blue. You can clearly see him reinforcing the bidwalls under the spot price with ove 5K walls. This bastard manipulator is ruining our dreams of cheap bitcoins. Someone has to sell into him to take him down.

You can also notice that he removed his 26,322 bidwall at 2.5, and seemed to have spread it around to the other .05 increments. This guy seems to be playing with a limited amount of bitcoins. Again, he needs to be stopped. Bitcoins should be cheap and affordable for everyone.


Bid   2.1   778.5
Bid   2.15   2107.83
Bid   2.2   5060.48
Bid   2.25   3184.2
Bid   2.3   2480.02
Bid   2.35   2012.49
Bid   2.4   5923.39
Bid   2.45   5576.28
Bid   2.5   26322.9
Bid   2.55   2886.89
Bid   2.6   6318.72
Bid   2.65   7649.42
Bid   2.7   6683.69
Bid   2.75   2568.1
Bid   2.8   537.93


Bid   2.2   3206.44
Bid   2.25   3174.89
Bid   2.3   3352.13
Bid   2.35   1984.32
Bid   2.4   5667.52
Bid   2.45   4891.53
Bid   2.5   7052.89
Bid   2.55   3432.12
Bid   2.6   8232.7
Bid   2.65   7643.04
Bid   2.7   8682.27
Bid   2.75   6472.46
Bid   2.8   4255.54
Bid   2.85   689.34

[cypherdoc]

Someone has to sell into him to take him down.

i nominate you.

[BTCurious]

The price is going to climb slowly, spikes above 3.2, fluctuates a bit, spikes again, and then settles around 3.

Someone has to sell into him to take him down.

i nominate you.

Let's vote on it. I vote Edward50 too.

[ElectricMucus]

Just wait for the next guy taking a dump, too much greed ruins your profits.

[tvbcof]

Seems like the last three big spikes (i.e. 10k -15k BTC within an hour or so) have resulted in higher prices.  My sense is that the numbers of BTC acquired during these periods at least covers the native inflation of Bitcoin, and BTC has been raising in value since this started to occur.

It almost seems like some fairly big player(s) are sucking up BTC after a period of backfill.  Maybe they are playing the market and will dump at higher prices, but I could also imagine them sitting on their positions for the same reasons I sit on mine.