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Edward50 (OP)
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January 27, 2012, 01:33:53 AM |
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It is obvious that bitcoin is getting killed lately, and can potentially take a huge dive back down the the $2.00 range.
Everything is pointing towards a drop, the days before the drop were also very obvious with the low volume.
One thing that I noticed from watching bitcoins fall from $30's, is that bitcoin has never failed to make new lows, no matter how much I even think otherwise.
So what is going on here now? The manipulator really pushed the price up high. However, it looks like he has not been able to push higher than $7.2, now it looks like he is not able to even maintain the prices. He put up his bidwalls, but they have failed. Today I saw the $5.4 bidwall go from 9000 coins, to 38,000 coins, then back down to 10,000 coins, all within 20 minutes. Wonder what he is up to.
Is this a controlled drop, to suck up bitcoins cheap again. Then a push to higher prices, to dump them?
has he just failed to keep the price high because it is just to expensive to subsidize the price of bitcoins?
Has his bidwalls been taking too many dumps, where he decides that it is not worth it to buy all the bitcoins people are dumping? I have noticed in the past that when many of his bidwalls get sold into within a short period of time, he usually pulls out of the market for a while. This is what I think is happening now.
So whats up? Just recently you guys were all talking about double digits, bitcoins going to the moon, it was like 95% optimistic people, now everyone is changing their mind.
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Empty your mind, be formless, shapeless — like water. Now you put water in a cup, it becomes the cup; You put water into a bottle it becomes the bottle; You put it in a teapot it becomes the teapot. Now water can flow or it can crash. Be water, my friend.
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"This isn't the kind of software where we can leave so many unresolved bugs that we need a tracker for them." -- Satoshi
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teflone
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January 27, 2012, 01:36:27 AM |
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controlled drop..
Yes..
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Vandroiy
Legendary
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Activity: 1036
Merit: 1002
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January 27, 2012, 01:40:18 AM |
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Just use a model that doesn't focus on "The Manipulator", and it makes a little more sense.
There's a lot of players that react differently, not a puppet master mind-controlling everyone. Nobody really wants to push the market too heavily, because that is costly and dangerous, as was demonstrated.
There was someone with big orders trying to push the price above 6.5 after the Bitcoinica spikes though. That didn't work out too well, so maybe that's who you're looking for.
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SlaveInDebt
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January 27, 2012, 01:42:41 AM |
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Edward50's back definite downward trend we are in. Who's to say the same manipulator wasn't the one holding the price below 7.2? That would certainly help fund control of downward pressure later.
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"A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain." - Mark Twain
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N12
Donator
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Activity: 1610
Merit: 1010
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January 27, 2012, 02:46:08 AM |
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Don't ignore bitcoinica's influence on this. I saw the 9k bid get eaten up like it was nothing. This has been a bear move that is essentially a boon to new buyers from The Good Wife and other sources. The rate of bitcoin innovation is expanding and new bitcoin only shops are starting up all the time. I'm a long term bull, any time is a good time to buy bitcoins.
The long-term double digit bagholders want to have a talk with you! |
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arepo
Sr. Member
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Activity: 448
Merit: 250
this statement is false
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January 28, 2012, 06:18:34 PM |
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It is obvious that bitcoin is getting killed lately, and can potentially take a huge dive back down the the $2.00 range.
Everything is pointing towards a drop, the days before the drop were also very obvious with the low volume.
One thing that I noticed from watching bitcoins fall from $30's, is that bitcoin has never failed to make new lows, no matter how much I even think otherwise.
So what is going on here now? The manipulator really pushed the price up high. However, it looks like he has not been able to push higher than $7.2, now it looks like he is not able to even maintain the prices. He put up his bidwalls, but they have failed. Today I saw the $5.4 bidwall go from 9000 coins, to 38,000 coins, then back down to 10,000 coins, all within 20 minutes. Wonder what he is up to.
Is this a controlled drop, to suck up bitcoins cheap again. Then a push to higher prices, to dump them?
has he just failed to keep the price high because it is just to expensive to subsidize the price of bitcoins?
Has his bidwalls been taking too many dumps, where he decides that it is not worth it to buy all the bitcoins people are dumping? I have noticed in the past that when many of his bidwalls get sold into within a short period of time, he usually pulls out of the market for a while. This is what I think is happening now.
So whats up? Just recently you guys were all talking about double digits, bitcoins going to the moon, it was like 95% optimistic people, now everyone is changing their mind.
When most everyone is consolidated behind a bearish sentiment, this is the time to look out for upward spikes. There are fundamental reasons for this... Get a clue. haha +1,000,000 i just quoted your wonderful support/resistance chart in my falling knife thread where i was challenged to call the bottom. we definitely already bottomed out, and we won't see sub-$5 again. the ask side on mtgoxlive is obviously shamefully manipulated, and it is thanks to your charts that i know this. seriously, they are invaluable in my analysis. i love it when i see It is obvious that bitcoin is getting killed lately, and can potentially take a huge dive back down the the $2.00 range.
Everything is pointing towards a drop, the days before the drop were also very obvious with the low volume. just makes my day |
this sentence has fifteen words, seventy-four letters, four commas, one hyphen, and a period.
18N9md2G1oA89kdBuiyJFrtJShuL5iDWDz
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zby
Legendary
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Merit: 1001
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January 28, 2012, 06:28:16 PM |
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It is obvious that bitcoin is getting killed lately, and can potentially take a huge dive back down the the $2.00 range.
Everything is pointing towards a drop, the days before the drop were also very obvious with the low volume.
...
I understand that you sold low when you thought it *must* go even lower and how you're kind of surprised - but maybe if you convince everyone that it goes back to $2.00 - then you might yet have a chance to buy it back. Good move! |
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