who is dumping 2.5k bitcoins now?

[whatsover]

http://bitcoincharts.com/charts/chart.png?width=1861&m=bitstampUSD&SubmitButton=Draw&r=2&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0&

https://s3.amazonaws.com/tradingview/z/zlhNayqU_big.png

who is dumping 2.5k bitcoins now? are we going back to $400 and continue the down trend to $3xx?

[lynn_402]

Traders who are satisfied with getting more than 15% profit in a week?
That's an awesome short-term trade, really, we can't blame them.

[derpinheimer]

To me that dump appeared 100% manipulative. Huobi was still pushing up and had no sign of reversing (wave pattern on Huobi)

Bitstamp was also moving up, slowly, towards the $550 wall.

If they wanted to make use of the momentum they would place a wall ~$540. Instead they market sold it all. Makes no sense at all. They probably bought back lower after the sheep panicked.

[ranlo]

Traders who are satisfied with getting more than 15% profit in a week?
That's an awesome short-term trade, really, we can't blame them.

I think people blow this out of proportion anyways. There are 150 coins created per hour. That's over 3k a day. This means that less than A SINGLE DAY's worth of BTC was dumped. Thats nothing. People need to quit trying to make more of things than they are.

[bryant.coleman]

Hmm... in the BTC-E exchange, there were several bulk buy deals, each worth close to BTC1,000 over the past 48 hours or so. So some people are buying and others are dumping.... everything is neutralized in the end. 

[Benjig]

Expecting the price to go below 400 is very unprovable, unless if there is a really bad new, but no one will be dumping at 400, most people bought lately at 600-800, they wont sell at 400.

[ArticMine]

Given the rise over the last few days a correction is actually very healthy for the market.

[Skele]

Given the rise over the last few days a correction is actually very healthy for the market.

Yes, we dont want to have such a quick rally that can end into a final dump or bubble capitulation.

Better to rise around 30-40 per week, than the same amount in one day..

but we are going good

[Shallow]

Who cares? 2.5k is not enough to shift the market under $500 again so let them sell and enjoy their profits.

[JimboToronto]

most people bought lately at 600-800

 

"Lately" the price has been well below $600.

"Most people" originally bought in for less than $100.

The only ones who paid $600-$800 are the latecomers (and holders buying during dips) who bought during the rise and fall of the most recent bubble.

[gentlemand]

most people bought lately at 600-800

 

"Lately" the price has been well below $600.

"Most people" originally bought in for less than $100.

The only ones who paid $600-$800 are the latecomers (and holders buying during dips) who bought during the rise and fall of the most recent bubble.

Surely it would require a larger number of people to be buying at those levels to raise the price. Sub $100 buyers might be in the minority by now.

[falllling]

the raise has stopped, i think the op is right, we are heading back to $300

[fonzie]

the raise has stopped, i think the op is right, we are heading back to $300

I can confirm. Buy orders between 240-320 are ready.

[klee]

the raise has stopped, i think the op is right, we are heading back to $300

I can confirm. Buy orders between 240-320 are ready.

Why so high?

Better to buy @140, don't be a bull!

[spiderbrain]

Given the rise over the last few days a correction is actually very healthy for the market.

+1

[oda.krell]

Traders who are satisfied with getting more than 15% profit in a week?
That's an awesome short-term trade, really, we can't blame them.

1st reply = correct answer.

There's still hope for this forum :D

[wachtwoord]

Traders who are satisfied with getting more than 15% profit in a week?
That's an awesome short-term trade, really, we can't blame them.

1st reply = correct answer.

There's still hope for this forum

If this were true they wouldn't dump it all at once but sell gradually.

[oda.krell]

Traders who are satisfied with getting more than 15% profit in a week?
That's an awesome short-term trade, really, we can't blame them.

1st reply = correct answer.

There's still hope for this forum

If this were true they wouldn't dump it all at once but sell gradually.

Why? Many traders have profit targets, but also like let a profitable position ride as long as possible. Someone has to take the first step, (i.e. take the actual profit), which triggers a) others to take profit as well (their long position won't ride much longer), and b) pure momentum traders.

[wachtwoord]

Traders who are satisfied with getting more than 15% profit in a week?
That's an awesome short-term trade, really, we can't blame them.

1st reply = correct answer.

There's still hope for this forum

If this were true they wouldn't dump it all at once but sell gradually.

Why? Many traders have profit targets, but also like let a profitable position ride as long as possible. Someone has to take the first step, (i.e. take the actual profit), which triggers a) others to take profit as well (their long position won't ride much longer), and b) pure momentum traders.

Slippage is the reason. Of course this are likely many people as you say, but if this is "someone" dumping 2.5k BTC he's not acting rationally.

[oda.krell]

Traders who are satisfied with getting more than 15% profit in a week?
That's an awesome short-term trade, really, we can't blame them.

1st reply = correct answer.

There's still hope for this forum

If this were true they wouldn't dump it all at once but sell gradually.

Why? Many traders have profit targets, but also like let a profitable position ride as long as possible. Someone has to take the first step, (i.e. take the actual profit), which triggers a) others to take profit as well (their long position won't ride much longer), and b) pure momentum traders.

Slippage is the reason. Of course this are likely many people as you say, but if this is "someone" dumping 2.5k BTC he's not acting rationally.

I really don't know what makes you say that.

I don't know your volume, but did you ever trade (on, say, stamp) actively trying to avoid/minimize slippage? It's harder than you think.

If I split up my own orders, the market often "runs away" in the meantime, if I don't split them up, I incur high, but predictable slippage (I can say pretty much with certainty how high my slippage will be, on average).

Anyway, I don't see how "rational" or not factors in here at all... how is taking a 20% profit "irrational"? Because if the actor wouldn't have sold, we would be even higher? That's not a way to argue in an n-player game like a market.

EDIT: re-reading your post, I guess "irrational" refers to the dumping part, instead of splitting it up. Consider for a moment however that a dump incurs higher slippage, but might trigger a stronger momentum reaction, so again: it's not necessarily "irrational", just a gamble, if you want.