I SAW 21000 BTC SELL WALL TODAYT

[Cryddit]

I've been watching the market, and I *think* I'm seeing a pattern.

I could be wrong about this.  But the market response to price changes in Bitcoin has been "off" of normal patterns for several months. 

When the price of Bitcoin is lower, substantially more of it changes hands daily.  This is a normal pattern in itself, but for the last few months, the market's volume response to prices is MUCH steeper than it had been previously -- in fact steeper than makes any sense according to my understanding of the market.   

In practice, it looks like there is a lot of money out there waiting to buy Bitcoin, but it's in absolutely no hurry, absolutely not worried that the price might go up before it gets to buy as much as it wants, and calmly waiting for the price to go lower. 

And indeed, when the price goes even a little higher than its recent averages we see the volume of sales drop like a rock.  The scarcity of trades on price upswings is just as pronounced as the huge volume on the downswing that the so-called 'bear whale' brought out.  In fact the 'bear whale' nailed the pattern:  price declined by ~$30 US, volume more than tripled.

The thing is, for this behavior to be rational, some HUGE investors (who want to be long in Bitcoin, in the long run) have got to be utterly, completely confident that the market price will NOT recover before they damn well want it to.  Whoever it is - or whatever coalition of people it is - that has this money appears to be absolutely certain that nobody ELSE with money will set off a bull market before they have as much bitcoin as they want.

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[novacn]

Maybe its exchanges trying to take this opportunity to increase their reserve.

[CryptoCarmen]

I've been watching the market, and I *think* I'm seeing a pattern.

I could be wrong about this.  But the market response to price changes in Bitcoin has been "off" of normal patterns for several months. 

When the price of Bitcoin is lower, substantially more of it changes hands daily.  This is a normal pattern in itself, but for the last few months, the market's volume response to prices is MUCH steeper than it had been previously -- in fact steeper than makes any sense according to my understanding of the market.   

In practice, it looks like there is a lot of money out there waiting to buy Bitcoin, but it's in absolutely no hurry, absolutely not worried that the price might go up before it gets to buy as much as it wants, and calmly waiting for the price to go lower. 

And indeed, when the price goes even a little higher than its recent averages we see the volume of sales drop like a rock.  The scarcity of trades on price upswings is just as pronounced as the huge volume on the downswing that the so-called 'bear whale' brought out.  In fact the 'bear whale' nailed the pattern:  price declined by ~$30 US, volume more than tripled.

The thing is, for this behavior to be rational, some HUGE investors (who want to be long in Bitcoin, in the long run) have got to be utterly, completely confident that the market price will NOT recover before they damn well want it to.  Whoever it is - or whatever coalition of people it is - that has this money appears to be absolutely certain that nobody ELSE with money will set off a bull market before they have as much bitcoin as they want.

Buyers are only high experienced traders. None of the regular people will think to buy Bitcoin today. They will come buy after Bitcoin goes over 1000 UDS.

[arieq]

there is was 21k btc sell wall at 300 usd
it was eaten all of it
completely gone the sell wall non of it left. it was at 300 usd
now its is all gone and the price is higher. so it means the guy that sold it is sad. why did he sell in the first place how is he going to buy back 21k btc now . if i had 21k btc i would have treated tehm better than he did. life is not fair.
i want to mkae 21k btc and treat them bttr give me them

The guy that sold at 300 was by no means stupid, that was an exit. He was not trying to bring the price down. he just wanted out. He either was an early adopter or early miner, or bought those coins for dirt cheap and 300 was a good exit point for him.

[cellard]

Just the usual whale scare tactics.

[arieq]

Just the usual whale scare tactics.

I dont think so, he could have just waited and sold for more, or split it up and made more money but for him it was probably already so profitable. imagine buying at 30$ and selling at 300$... that's 1000% profit

[Atdhe]

I've been watching the market, and I *think* I'm seeing a pattern.

I could be wrong about this.  But the market response to price changes in Bitcoin has been "off" of normal patterns for several months. 

When the price of Bitcoin is lower, substantially more of it changes hands daily.  This is a normal pattern in itself, but for the last few months, the market's volume response to prices is MUCH steeper than it had been previously -- in fact steeper than makes any sense according to my understanding of the market.   

In practice, it looks like there is a lot of money out there waiting to buy Bitcoin, but it's in absolutely no hurry, absolutely not worried that the price might go up before it gets to buy as much as it wants, and calmly waiting for the price to go lower. 

And indeed, when the price goes even a little higher than its recent averages we see the volume of sales drop like a rock.  The scarcity of trades on price upswings is just as pronounced as the huge volume on the downswing that the so-called 'bear whale' brought out.  In fact the 'bear whale' nailed the pattern:  price declined by ~$30 US, volume more than tripled.

The thing is, for this behavior to be rational, some HUGE investors (who want to be long in Bitcoin, in the long run) have got to be utterly, completely confident that the market price will NOT recover before they damn well want it to.  Whoever it is - or whatever coalition of people it is - that has this money appears to be absolutely certain that nobody ELSE with money will set off a bull market before they have as much bitcoin as they want.

Buyers are only high experienced traders. None of the regular people will think to buy Bitcoin today. They will come buy after Bitcoin goes over 1000 UDS.

I am buying still. It is perfect time. Is cheap, almost nobody trusts suddenly. Great times. But I am not experienced trader from cc market [but I am former sportsbetting trader]. Regular people are defined as regular because they follow the stream. Because someone now is notbuying BTC it makes him regular (and long term loser).

[bitcoinmining]

That's not so logical to sell at $300, when he had that chance to sell at $330. It means $630,000 loss, maybe he planned to sell at $300 and buy back from $250 who knows...

[okae]

there is was 21k btc sell wall at 300 usd
it was eaten all of it
completely gone the sell wall non of it left. it was at 300 usd
now its is all gone and the price is higher. so it means the guy that sold it is sad. why did he sell in the first place how is he going to buy back 21k btc now . if i had 21k btc i would have treated tehm better than he did. life is not fair.
i want to mkae 21k btc and treat them bttr give me them

Maybe he have 100k btc, 21k is only merely part of the profit..

if thats the case is just awesome, btw, How do you know it was legit eaten?

This can be only a mistake, but a real huge mistake lol

[TheAstronomer]

This is a screenshot of the chart from that day, for those who missed it.
https://i.imgur.com/7wtNIVI.png

[Agestorzrxx]

wooooo

[Bananana]

This is a screenshot of the chart from that day, for those who missed it.

Wow, I don't get why people want to put sell wall at 300 when all the other exchange is at $330. He can easily sell in a few small transaction and earn about 10% more...

[Steve D]

It's over 9000!
No just kidding. If some1 actually puts up a 21k wall he really does care about the price dropping atm.

[sonofacoin]

Some investors need to cover their losses elsewhere so they have to sell whatever they can to cover.

Think about it, perhaps this person or group bought Bitcoins at $100... so to them $300 is a huge profit taking.

[Amph]

it could explain the last dump, but i think we will recover quickly, maybe christmas and steam sales are forcing some dumping

they should give bitcoin for christmas to their kid

[gablay12]

volume is scary

[Joca97]

i think that guy that sol 21k did a big mistake

probobly in future i hope to see a price pump!!

[fullhouse]

whale ?maybe the exchange's robot

[DonQuijote]

i saw these wall haha, Maybe i have a screeshot on my phone

[yrask]

there is was 21k btc sell wall at 300 usd
it was eaten all of it
completely gone the sell wall non of it left. it was at 300 usd
now its is all gone and the price is higher. so it means the guy that sold it is sad. why did he sell in the first place how is he going to buy back 21k btc now . if i had 21k btc i would have treated tehm better than he did. life is not fair.
i want to mkae 21k btc and treat them bttr give me them

Probably some crazy early adopter wanted to mantain the price at 300 to avoid a big decrease.