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Author Topic: Its Breaking 5 now  (Read 2417 times)
Matthew N. Wright
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March 14, 2012, 04:20:08 AM
 #21

So what happened? It seems like a single person just bought like $300k worth of bitcoins and the prices simple settled slightly higher?

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adamstgBit
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March 14, 2012, 04:41:37 AM
 #22

So what happened? It seems like a single person just bought like $300k worth of bitcoins and the prices simple settled slightly higher?

actually what happened was, one person bought it up to 5.001
and the masses bought it up to 5.4 (some buying, some short squeezing)
we were all just waiting for someone to "pull the trigger" to move on up.
now it seems clear we are heading higher, looking for a top, could be 5.4 could be 10, time will tell

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March 14, 2012, 11:49:27 AM
 #23

So, why did someone suddenly want so many bitcoins all at once?  I know the super bulls will say it's a savvy investor getting as many ridiculously cheap bitcoins as possible before they go to the moon, but I'm genuinely curious as to why someone would put in one large buy instead of spreading it out over weeks and buying even cheaper.

Maybe they just wanted X amount in a hurry and bought, so we have a rally, just like when someone sells Y in a hurry and dumps the market, and we have teeth gnashing about a manipulator in our midst.

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waspoza
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March 14, 2012, 12:15:17 PM
 #24

So, why did someone suddenly want so many bitcoins all at once?  I know the super bulls will say it's a savvy investor getting as many ridiculously cheap bitcoins as possible before they go to the moon, but I'm genuinely curious as to why someone would put in one large buy instead of spreading it out over weeks and buying even cheaper.

Maybe they just wanted X amount in a hurry and bought, so we have a rally, just like when someone sells Y in a hurry and dumps the market, and we have teeth gnashing about a manipulator in our midst.

This is my theory: lets say this person has 300k usd. He puting 150k on bitcoinica on max leverage, and other 150 on mtgox He buys on mtgox in one big chunk squeezing shorts, making ppl to join the rally only for his long position in bitcoinica to make nice profit.
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March 14, 2012, 03:33:04 PM
 #25

So, why did someone suddenly want so many bitcoins all at once?  I know the super bulls will say it's a savvy investor getting as many ridiculously cheap bitcoins as possible before they go to the moon, but I'm genuinely curious as to why someone would put in one large buy instead of spreading it out over weeks and buying even cheaper.

Maybe they just wanted X amount in a hurry and bought, so we have a rally, just like when someone sells Y in a hurry and dumps the market, and we have teeth gnashing about a manipulator in our midst.
If they bought slowly, they might start a bigger rally and have to pay more to get their 50k BTC.

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