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roos (OP)
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November 15, 2011, 10:26:42 AM |
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There has been lots of talk in these forums about the walls. They have been interpreted as market manipulation and efforts to stop the decline in bitcoin value. I think you people should have a look att the market history. The walls dont come up when the value starts to decline. For the last couple of months, they have been the start of most of the steps downwards. Every time a wall of demand have come up, people with thousands of bitcoins have seen the oportunity to sell off some of their coins without totally crashing the market, they have done so even if the price has been a bit lower than the going market value. This has pushed the price back to the level of the wall and it has stayed there until a new wall of demand a bit further down has appeared. To me this demonstrates that the holders of large amount of coins have been thinking that it has been hard to get the coins of their hands at the current market value.
This is also exactly what happened this last drop from 3 to about 2.3. First a huge demand appeared at 2.5 and the price was pushed down to that level as thousands of bitcoins were sold. But this time something else happened, there were new walls built up at about the same price, there were also a lot of trade at first but then it slowed down. The wall 50000 demand at 2.2 has been mostly left alone. What happened?
For the first time in months a huge demand slightly below the current market value has not gained the interest of the sellers. Even if it will find sellers today or tomorrow this is a change of behaviour from the big holders.
Yes, it has become harder to buy cheap coins, once again.
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"Bitcoin: the cutting edge of begging technology." -- Giraffe.BTC
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ElectricMucus
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Activity: 1666
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Marketing manager - GO MP
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November 15, 2011, 11:01:18 AM |
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We have seen nothing yet.
2 will become the next 5 we will creep below it and then we can talk about where the next drop will be.
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BadBear
v2.0
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November 15, 2011, 01:16:35 PM |
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Why are you talking like its over? Same thing happened at 6, 5, 4, now 3, next 2, then 1.
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roos (OP)
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November 16, 2011, 12:57:25 AM |
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Why are you talking like its over? Same thing happened at 6, 5, 4, now 3, next 2, then 1.
Because on every dip since 10, the dip has not stopped until the wall of demand has been bought up and no new wall has been created. This time the 2.2 wall is still there and there are no bigtime sales eating it away. |
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mjcmurfy
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November 16, 2011, 01:42:58 AM |
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there are no bigtime sales eating it away.
Not yet... |
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bitcoinBull
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rippleFanatic
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November 16, 2011, 02:23:45 AM |
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Why are you talking like its over? Same thing happened at 6, 5, 4, now 3, next 2, then 1.
The same logic which had people buying at $30, because $100 was next. |
College of Bucking Bulls Knowledge
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barbarousrelic
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November 16, 2011, 02:27:00 AM |
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Why are you talking like its over? Same thing happened at 6, 5, 4, now 3, next 2, then 1.
The same logic which had people buying at $30, because $100 was next. We can all conclude from this that previous performance does not indicate future performance. |
Do not waste your time debating whether Bitcoin can work. It does work.
"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.
There is no such thing as "market manipulation." There is only buying and selling.
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ElectricMucus
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November 16, 2011, 02:46:00 AM |
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Ok now we all act as if trading indicators don't exist  |
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gewure
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[#][#][#]
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November 19, 2011, 03:54:55 AM |
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Ok now we all act as if trading indicators don't exist yap. sell. |
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adamstgBit
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Trusted Bitcoiner
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November 19, 2011, 03:58:37 AM |
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Why are you talking like its over? Same thing happened at 6, 5, 4, now 3, next 2, then 1.
k well what happens at 0.25 will you still be bear? |
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Jonathan Ryan Owens
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November 19, 2011, 03:59:48 AM |
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Why are you talking like its over? Same thing happened at 6, 5, 4, now 3, next 2, then 1.
k well what happens at 0.25 will you still be bear? Chiming in here.. At $0.25 I'll be buying all the bitcoin I can get my hands on for it's eventual rise back up to, but probably not past, $1. -Jonathan |
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adamstgBit
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Trusted Bitcoiner
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November 19, 2011, 04:10:49 AM |
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Why are you talking like its over? Same thing happened at 6, 5, 4, now 3, next 2, then 1.
k well what happens at 0.25 will you still be bear? Chiming in here.. At $0.25 I'll be buying all the bitcoin I can get my hands on for it's eventual rise back up to, but probably not past, $1. -Jonathan right ... i think everyone would do the same at 0.25. but that's a extreme number to prove my point 1.99$ a more realistic number??.... i Think SO!  BUY BUY BUY |
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gewure
Sr. Member
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[#][#][#]
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November 19, 2011, 04:14:31 AM |
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Why are you talking like its over? Same thing happened at 6, 5, 4, now 3, next 2, then 1.
k well what happens at 0.25 will you still be bear? Chiming in here.. At $0.25 I'll be buying all the bitcoin I can get my hands on for it's eventual rise back up to, but probably not past, $1. -Jonathan right ... i think everyone would do the same at 0.25. but that's a extreme number to prove my point 1.99$ a more realistic number??.... i Think SO! BUY BUY BUY you really go with the manipulator and take this walls for real? strange. i would suggest to wait for the next, hopefully final big crash and buy then, not at $1.99, cause $1.99 would have been gone today, if not MR.MANIPULATOR would have made his show.. |
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bittenbob
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November 19, 2011, 04:34:23 AM |
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Why are you talking like its over? Same thing happened at 6, 5, 4, now 3, next 2, then 1.
k well what happens at 0.25 will you still be bear? Chiming in here.. At $0.25 I'll be buying all the bitcoin I can get my hands on for it's eventual rise back up to, but probably not past, $1. -Jonathan right ... i think everyone would do the same at 0.25. but that's a extreme number to prove my point 1.99$ a more realistic number??.... i Think SO! BUY BUY BUY you really go with the manipulator and take this walls for real? strange. i would suggest to wait for the next, hopefully final big crash and buy then, not at $1.99, cause $1.99 would have been gone today, if not MR.MANIPULATOR would have made his show.. Interestingly enough even without the manipulator being obviously involved BTC seemed to hit a real wall at 2.00. I suspect this was due to bitcoinica more than anything but maybe $2 is the real price it will remain at. Does anyone have any numbers as to how many bitcoins were issued in june when the $30 peak happened vs now (7 696 000 BTC) to see how much the total investment in USD has changed over this time period. That is assuming that every dollar USD invested into bitcoins is represented as a dollar value per BTC on MTGox. |
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