anu
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RepuX - Enterprise Blockchain Protocol
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February 08, 2012, 12:36:35 PM |
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I have had an interesting thought lately. What if November to January was a brief correction from the 6 months long bear market which is over now?
If we assume the top is 7.22 and there is again a months long 94% "consolidation", the low would turn out to be 0.45 USD.
Food for thought.
Humanity had a similar consolidation 70000 years ago when we went down to less than 10000. Extrapolating with your method means we died out about 65000 years ago. Sounds entirely reasonable. Thanks for pointing that out. How stupid to think that we're now at 7 Billion. |
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BadBear
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February 08, 2012, 01:32:26 PM |
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As Technomage said, why would any sane person sell Bitcoins in this manner when they could get more money selling them slowly? Either they can get more money another way selling them like this, or they don't care about money.
Maybe they know something.  |
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proudhon
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February 08, 2012, 01:35:35 PM |
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As Technomage said, why would any sane person sell Bitcoins in this manner when they could get more money selling them slowly? Either they can get more money another way selling them like this, or they don't care about money.
Maybe they know something.  |
Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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phelix
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February 08, 2012, 03:23:56 PM
Last edit: February 08, 2012, 03:37:35 PM by phelix |
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I see this as a manipulation attempt based on the predictions of what will happen if $5.4 breaks. It doesn't make any sense otherwise, someone who simply wanted to exit the market with 40k BTC would've sold smaller amounts at a time, not all 40k at once. The market had no signs of crashing so the seller would've got a much better price by selling in smaller amounts. That dump was very intentional, the question is will people fall for it. I'm not falling for it.
edit: I am not sure it is a loosing operation. thinking.... Just like this?: https://bitcointalk.org/index.php?topic=52336.0  Zhoutong, could you let us know if any or what role Bitcoinica is playing here?  |
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teflone
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February 08, 2012, 04:43:35 PM |
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I see this as a manipulation attempt based on the predictions of what will happen if $5.4 breaks. It doesn't make any sense otherwise, someone who simply wanted to exit the market with 40k BTC would've sold smaller amounts at a time, not all 40k at once. The market had no signs of crashing so the seller would've got a much better price by selling in smaller amounts. That dump was very intentional, the question is will people fall for it. I'm not falling for it.
edit: I am not sure it is a loosing operation. thinking.... Just like this?: https://bitcointalk.org/index.php?topic=52336.0 Zhoutong, could you let us know if any or what role Bitcoinica is playing here? MOST OF IT!!!!!! |
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zhoutong
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February 08, 2012, 04:46:43 PM |
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I see this as a manipulation attempt based on the predictions of what will happen if $5.4 breaks. It doesn't make any sense otherwise, someone who simply wanted to exit the market with 40k BTC would've sold smaller amounts at a time, not all 40k at once. The market had no signs of crashing so the seller would've got a much better price by selling in smaller amounts. That dump was very intentional, the question is will people fall for it. I'm not falling for it.
edit: I am not sure it is a loosing operation. thinking.... Just like this?: https://bitcointalk.org/index.php?topic=52336.0 Zhoutong, could you let us know if any or what role Bitcoinica is playing here? Nothing. The total forced liquidations today is less than 500 ฿. |
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proudhon
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February 08, 2012, 04:47:44 PM |
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Just glancing at the daily bitcoincharts chart something like 75-90k bitcoins have been dumped today. Does somebody know something?
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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zby
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February 08, 2012, 04:52:16 PM |
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Just glancing at the daily bitcoincharts chart something like 75-90k bitcoins have been dumped today. Does somebody know something?
Not exactly - there was a dump - then someone was buying up, and now there was another dump. It all looks like someone with really big money was just playing and checking our reactions. |
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waspoza
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February 08, 2012, 05:10:30 PM |
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Just glancing at the daily bitcoincharts chart something like 75-90k bitcoins have been dumped today. Does somebody know something?
Looks like those dumps have lesser impact on the price these days. Some time ago this amount would cause crash and panic, and today price hardly moving. |
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RyNinDaCleM
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Legen -wait for it- dary
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February 08, 2012, 05:14:20 PM |
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Just glancing at the daily bitcoincharts chart something like 75-90k bitcoins have been dumped today. Does somebody know something?
Your favorite chart, the total bid depth is down about $200,000 in the last 24hrs also. |
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N12 (OP)
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February 08, 2012, 06:02:40 PM |
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Just glancing at the daily bitcoincharts chart something like 75-90k bitcoins have been dumped today. Does somebody know something?
What do you mean? Do you think the sellers know something we don’t yet? |
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SlaveInDebt
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February 08, 2012, 06:04:04 PM |
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So are we going to hell or not?
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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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NamelessOne
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February 08, 2012, 06:10:07 PM |
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So are we going to hell or not?
Everything seems to be in stasis... somehow... edit: typo fixed |
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FreeMoney
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Strength in numbers
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February 08, 2012, 06:12:55 PM |
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So now someone rash who likes big movements has a ton of money sitting in Gox?
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Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
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SlaveInDebt
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February 08, 2012, 06:37:05 PM |
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So now someone rash who likes big movements has a ton of money sitting in Gox?
Free money? |
"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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phelix
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Activity: 1708
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February 08, 2012, 06:53:54 PM |
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I see this as a manipulation attempt based on the predictions of what will happen if $5.4 breaks. It doesn't make any sense otherwise, someone who simply wanted to exit the market with 40k BTC would've sold smaller amounts at a time, not all 40k at once. The market had no signs of crashing so the seller would've got a much better price by selling in smaller amounts. That dump was very intentional, the question is will people fall for it. I'm not falling for it.
edit: I am not sure it is a loosing operation. thinking.... Just like this?: https://bitcointalk.org/index.php?topic=52336.0 Zhoutong, could you let us know if any or what role Bitcoinica is playing here? [... dump img ...] Nothing. The total forced liquidations today is less than 500 ฿. thanks for the info! so there are other players at work... quite interesting |
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Maged
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February 14, 2012, 03:02:42 AM |
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Interestingly enough, if you compare the magnitudes of each rally and assume that they will drop as much as the first rally as a magnitude of the percentage, you get a "perfect" estimate of a 33% drop from our high of $7.22, bringing us down to $4.81.
...God damn 33% percent retracement rule.
Damn I'm good. Let's see if this holds... |
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ineededausername
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February 14, 2012, 03:05:03 AM |
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Interestingly enough, if you compare the magnitudes of each rally and assume that they will drop as much as the first rally as a magnitude of the percentage, you get a "perfect" estimate of a 33% drop from our high of $7.22, bringing us down to $4.81.
...God damn 33% percent retracement rule.
Damn I'm good. Let's see if this holds... Damn you're good  |
(BFL)^2 < 0
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grahamgreene
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February 14, 2012, 07:43:26 AM |
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Interestingly enough, if you compare the magnitudes of each rally and assume that they will drop as much as the first rally as a magnitude of the percentage, you get a "perfect" estimate of a 33% drop from our high of $7.22, bringing us down to $4.81.
...God damn 33% percent retracement rule.
Damn I'm good. Let's see if this holds... good! |
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