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Author Topic: Stupidity is the reason  (Read 2083 times)
dropt
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October 25, 2014, 06:23:13 PM
 #21

His aim is to sell on the way down and buy on the way up!
No, the traders aim is to buy on the way down and sell on the way up.

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If the recent decline is down to the traders then The exchanges will be Flush with FIAT just waiting to buy in when the recovery begins.
Implying that the trader's goal is to have more BTC.  I believe this was the majority in the past, as of current, I think the more active traders are looking for gains in $.  Consequently they're taking $ out of the BTC economy, not keeping $ in it by taking BTC off the table.

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Let me remind you that it was only 2 weeks ago 33,000 was dumped onto the market early sunday morning and it was all bought within 5 hours which initiated the $380 (peak $417) rally.
Only 8000 were dumped, the remainder was a market order and we don't know if the market maker was also the market taker.

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So, unless you are desperate to cash out today then WELCOME the traders with open arms because it is all their activity, and their cash, which will initiate the FAST price increase when the market turns and they are desperate to jump on board as the price rises!
In an ideal world.  However, the reality is is that it's far from ideal.
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October 25, 2014, 09:15:13 PM
 #22

His aim is to sell on the way down and buy on the way up!
No, the traders aim is to buy on the way down and sell on the way up.

Quote
If the recent decline is down to the traders then The exchanges will be Flush with FIAT just waiting to buy in when the recovery begins.
Implying that the trader's goal is to have more BTC.  I believe this was the majority in the past, as of current, I think the more active traders are looking for gains in $.  Consequently they're taking $ out of the BTC economy, not keeping $ in it by taking BTC off the table.

Quote
Let me remind you that it was only 2 weeks ago 33,000 was dumped onto the market early sunday morning and it was all bought within 5 hours which initiated the $380 (peak $417) rally.
Only 8000 were dumped, the remainder was a market order and we don't know if the market maker was also the market taker.

Quote
So, unless you are desperate to cash out today then WELCOME the traders with open arms because it is all their activity, and their cash, which will initiate the FAST price increase when the market turns and they are desperate to jump on board as the price rises!

A trader will look to sell BTC if he believes the market is falling to buy back in cheaper on the way back up.. If you buying BTC on the fall and selling on the rise then you are doing it wrong!!!!

33,000 were purchased at a fixed price in 4 hours and then the price increased. You can argue all you like but if bitcoin was that frail then such action should have initiated the BTC value to fall through the floor.. It didn't!

If you take time to listen to the various bitcoin feeds and the commentaters and analysts they are suggesting the value will increase substantially over time and ar of the opinion that a lot of FIAT is sitting on the sidelines. This is certainly true of the exchange I use.
In an ideal world.  However, the reality is is that it's far from ideal.
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October 25, 2014, 10:50:03 PM
 #23

the price doesn't mean anything when the daily volume is only a couple million USD.
one rich guy could throw an 11 million USD buy order on bitstamp right now and the price would instantly jump to 1000 USD.
does that mean anything about bitcoin's fundamentals changed? is it being used more because some bored rich guy with too much money bought a whole bunch? nope.

bitcoin adoption is growing everyday that's all that matters right now.
the price doesn't matter until the trading volume is at least in the hundreds of millions daily.
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