Someone is buying ... a lot more than in May

[cryptnutter]

Don't forget it is August so a lot of people around the world are on vacation. Like the Wall St saying goes, "Sell in May and go away".

Wait until fall.... by the end of the year the Bitcoin price is going to be much higher!

[1715194716]

1715194716

[1715194716]

1715194716

[zimmah]

If Govt has a lot of BTC, they can cause volatility and keep people out.

The thing with bitcoin is you can't artificially make more of it. So if you try to manipulate it, you will eventually run out of bitcoin.

[botany]

If Govt has a lot of BTC, they can cause volatility and keep people out.

Volatility will keep another group of people in. Speculator and trader.

Speculators and traders... not sure if that is good for the btc economy.

[dadugan]

If Govt has a lot of BTC, they can cause volatility and keep people out.

Volatility will keep another group of people in. Speculator and trader.

Speculators and traders... not sure if that is good for the btc economy.

One of the requirement for currency is stability. Speculators and traders will cause volatility, which is not good for btc economy.

[wajiminer]

with stocks the saying is that the bigboys, aka market makers can cause temporary spikes and dips in price. I think that's whats going on here. I haven't look at overall buy/sell orders but my feeling is that the market makers flooded the market with sell orders to drive down the price to levels they could "stock up" on bitcoins. You have enough capital and you can pretty much control the price of any coin in the short term.

[scryptasicminer]

Someone sold a lot on btc-e all the way down to 310. Suggest people to hold off buying for at least a few weeks.

[spazzdla]

The selling is driving the decline though, not the buyer matching the transactions.

The sell order has to come first (in this case) otherwise the price would be rising. That said, since the seller is initiating the transaction the buyer could be the exchanges, companies like Coinbase, other intermediaries, or folks trying to establish hedge fund style investments in Bitcoin (i.e., the Winklevoss boys or other Silicon Valley partners).

Other thoughts?

Ever thought they are the same person... willing to risk dumping half their coins to tank the market to increase their holdings of coins massively then pump.. pump pump it up.

[botany]

Someone sold a lot on btc-e all the way down to 310. Suggest people to hold off buying for at least a few weeks.

The btc-e market recovered pretty quickly. Price is now almost in line with other exchanges.

[maker88]

The selling is driving the decline though, not the buyer matching the transactions.

The sell order has to come first (in this case) otherwise the price would be rising. That said, since the seller is initiating the transaction the buyer could be the exchanges, companies like Coinbase, other intermediaries, or folks trying to establish hedge fund style investments in Bitcoin (i.e., the Winklevoss boys or other Silicon Valley partners).

Other thoughts?

Ever thought they are the same person... willing to risk dumping half their coins to tank the market to increase their holdings of coins massively then pump.. pump pump it up.

Been saying this for months. Whale has 10000 btc, dumps 5000 btc, causes 20% panic slide as bots and day traders follow, buys 6000 btc with the same amount of money, from panicking sellers. During this sort of unsure market there's a lot of stop loss orders out there waiting to be triggered. Stop hunting causing drops which squeeze leveraged traders into more drops. I'm still sitting here with my bitcoins I got for free after my initial investment was recovered, like fuckit yolo! If it goes back to 1000 that's cool. If it goes past 5k after then next reward halving that's even cooler. If it goes to zero I still made a bunch of money on bitcoin so who cares? Not me lol

[Ayers]

Someone sold a lot on btc-e all the way down to 310. Suggest people to hold off buying for at least a few weeks.

panic selling at his finest, doing this is beyond me, he just lose money

[Febo]

every seller has a buyer. When comparing dollar volume May 1-15 to Aug 1-15     $470 Million vs $910 Million..who bought the $440 Million difference and why? Yes .trading more volume is the reason but who is ending up with these coins from the sellers who do not re-buy?

http://www.quandl.com/BCHAIN/ETRVU-Bitcoin-Estimated-Transaction-Volume-USD

(click ..show data table at bottom)



2014-08-15       70,769,052
2014-08-14       71,895,364
2014-08-13       68,379,694
2014-08-12       61,158,740
2014-08-11       43,216,125
2014-08-10       32,787,195
2014-08-09       54,302,397
2014-08-08       45,449,194
2014-08-07       59,188,716
2014-08-06       67,991,855
2014-08-05       79,118,450
2014-08-04       62,191,353
2014-08-03       29,031,951
2014-08-02       43,348,752
2014-08-01       100,060,676






May 15   46,127,940
May 14   48,513,550
May13    36,980,698
May12    30,389,352
May11    21,490,294
May10    26,280,241
May9     36,496,136
May8     35,810,226
May7     48,283,519
May6     31,858,652
May5     27,165,713
May4     22,701,368
May3     30,993,631
May2     30,977,946
May1     34,892,425

I guess the ones that sold at 650 USD are buying now.

[wajiminer]

I wish I'd gotten in on that $310 action, wouldve turned right back around and sold for 480

[scryptasicminer]

I wish I'd gotten in on that $310 action, wouldve turned right back around and sold for 480

I have buy order of 350 on bitstamp, too bad the price didn't go that low there.

[LetsMakeItBTC]

The objective inteligent thing to do was to buy a shit ton of cheap BTC if you are FIAT rich.

[SirChiko]

Are we double bottoming?


http://education.investors.com/investors-corner/447619-double-bottoms-shake-out-weak-holders.htm


http://education.investors.com/investors-corner/480192-double-bottom-shakes-out-weak-holders.htm

Yep it sadly looks that ATM we are. But we will probably head up soon. I hope so.

[giveBTCpls]

I know for a fact that if I was a FIAT whale, this would be an exceptionally good time to enter the BTC game before it sky rockets again.