dump-attempts repetedly fail. I'd say we go sideways for a while creeping up slowly maybe a little drop here or there (10$ / 20$) and finally acceleration and big stampede then. Run up to at least 1000$ by mid-summer.
Did you notice that on Bitstamp? Apparently there's this character or group (haven't checked the order book for stamp) that's been trying to collapse the price by dumping ~ 730 coins for the past 4 days or so. Not sure what his/their intention is because most of the easily skittish have already been panicked and driven off. Its quite easy to see by looking at the chart on bitcoinwisdom and examining the 15 minute volume. Its amusing to see the price holding but you never know... there may still be some nervous types left just waiting to get plucked. Its been entertaining to watch this play out. Just conjecture but this guy must really be greedy or delusional or perhaps he knows something that we don't. Maybe its one of the chinese pump and dumpers who didn't recieve the memo
Why is there is some grand conspiracy theory over the motivation of someone selling a mere 700 coins? It's just 700 coins. It's not that many. Someone is just trading/selling a small amount of coins like that because they have to. It could be a miner, company, trader, whatever. They probably don't have the slightest thought about market manipulation. You guys just need to completely stop analyzing price movements and trades when there is pathetically low volume, at all.
Howdy Tera,
I'm not trying to imply there was a conspiracy
It just seems odd that within this context of a 15 minute volume with an average of 30-60 bitcoins traded for the past few days a repeated dump of ~700 bitcoins with a slow repurchase at close to sell price does not seem the norm. I was just wondering if that particular entity was either trying to suppress the price below 450 or actually trading. My reason was that at most they have managed to drop price of around $5-$10 dollars which does not yield that much profit ~$3000-$7000 on ~$315,000 worth of BTC. I wonder if there's money to be made with this methodology, because they slowly buy more btc soon after and then do the dump again as soon as price approach 450-452. This has been happening for the past 3-4 days. Anyway, folks are free to do as they wish so I'm not really complaining. Its just a strange way to trade especially in a sideways market. Maybe they are experimenting with fading the trend who knows. Either way, just commenting on this particular activity.
