Bitcoin:
Market makers make wash trades and “pump and dump” in this afternoon in Chinese market. Market trend in foreign market is stronger than in Chinese market, but it is in a low trade volume. This demonstrates that trades in Chinese market are wash trades. The rising trend is successive and not once buying out of the sell orders. It’s clear that this is a motion of market makers, not of big investors. A frog!
It’s said in Sohu News that FBI Bitcoin auction has ended in this morning. Bitcoin is auctioned in 9 quantities, 3000 coins per quantity. This is a perfect idea. It lowers the barrier of bid, and also ensures high transaction price. I guess that the transaction price in every round becomes higher and higher, and final transaction price is higher than market price then. Although the outcome has not be published, insiders may have already learnt, including Dong Zhao. Thus market makers lead this price jumping to stop auction failers buying.
I was a little pessimistic yesterday. The Bitcoin trend could be like what I said in the day before yesterday. It will move sideways for a week at $650-$700, one month at $800, one month at $1100, and then create a new high.
Altcoin:
Altcoin Index 1 is 5.6, down 5.1%, to a new low point. Altcoin Index 2 is 2.32, down 3.8%.
LTC dived yesterday, but goes up again today. Darkcoin is dead. Other altcoins rebound a bit. They include some coins with strong rebound, but I will not commend any until Bitcoin reach a new high.
http://www.bit-sky.com/index.php/english/986-gmt20140630-12-00-trend-analysis-of-democurrency
