[2019-10-25] Bitcoin price doesn't care about manipulators and is up $1200 in 2h

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Quote from: fabiorem on October 28, 2019, 11:12:17 AM

Both rise and fall are manipulated.
Exchange's volumes are very thin, so any big money can make a difference. It just eat the book, both up and down.
Governments have a infinite source of money (their printing machines) and can manipulate the price as they seem fit.
Although I believe the miners have the upper hand.

It is true that governments have an unlimited amount of fiat that they can use to buy whatever they want but it doesn't seem they are the responsible for what it is happening in the market, what it's happening it is probably being caused by the whales trying to manipulate the price and obtain more profits out of us, but I have my doubts the current price can be mantained for long because the volume has been decreasing since then and if no bitcoin is changing hands then it is bound to go down.

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Quote from: darkangel11 on October 25, 2019, 12:43:15 PM

How about that? People were panicking when they saw someone dump and smart people were saying it's a manipulation since most of this dump was on Bitstamp. Now we're back up and not to the 8k where it all started but past that all the way to 8700 USD. It didn't even stumble on 8k like that level never existed and broke through higher.
I'm usually bullish but now even more after seeing this. How about you?

Is sudden changes was independently happened? I don't think so though. Although it could be but still there are external factors we couldn't grasp at the time. But what's for sure for the current time is that they are indeed had been manipulated by those whales. It could be one way or another. Such price are just artificial so we might be experiencing later on a long drought unless there's something that could happened.

fabiorem

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Both rise and fall are manipulated.
Exchange's volumes are very thin, so any big money can make a difference. It just eat the book, both up and down.
Governments have a infinite source of money (their printing machines) and can manipulate the price as they seem fit.
Although I believe the miners have the upper hand.

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Quote from: justdimin on October 27, 2019, 12:56:27 PM

Bitcoin price do care about manipulators. If you ever think that manipulators didn't let go off their foot from the gas in order to let bitcoin go up this much then you are dead wrong.

If they wanted it to stay down they could have sold thousands of bitcoins, make the "crypto news websites" that literally costs only 800 dollars to get something written and published (you literally don't even have to write, they write for you) that would look like bitcoin is going to die and there is a big problem and basically spend as much as they can to stop bitcoin from going up and in the end bitcoin would have stayed. They didn't because they wanted to sell their accumulated coins for higher and when they are richer they would do this once again and then again and again until they are even richer than they are right now.

I have the same feelings, the market seems to be heavily influenced at the moment, if the drop in the price of bitcoin was suspicious then this growth is also suspicious, it happened too fast, this seemed like a concerted effort by some whales to push the price up and they got exactly what they wanted, they generated FOMO and now they can sell part of their stash for an higher amount of fiat but once they tire out of this they will crash the price again.

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Bitcoin price do care about manipulators. If you ever think that manipulators didn't let go off their foot from the gas in order to let bitcoin go up this much then you are dead wrong.

If they wanted it to stay down they could have sold thousands of bitcoins, make the "crypto news websites" that literally costs only 800 dollars to get something written and published (you literally don't even have to write, they write for you) that would look like bitcoin is going to die and there is a big problem and basically spend as much as they can to stop bitcoin from going up and in the end bitcoin would have stayed. They didn't because they wanted to sell their accumulated coins for higher and when they are richer they would do this once again and then again and again until they are even richer than they are right now.

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At that point that people are all making such statement is the point that we should just go to the market and start adding lots of bitcoin that is within our power to our cart. I am a very lucky person this period because I know that something like this was going to happen, which I never allowed those ones that were saying that bitcoin will drop low to $6000 to discourage me and make me sell some of my coins at $7500.

Rather than selling, I was accumulating more of those coins and now, the little I could accumulate has actually given me the profit that I will use to fee me and my family throughout next month. We just need to learn not to be panicking anytime we see some of these dumps, but rather be thinking of how we are going to buy more, especially when the dump has to do with bitcoin.

pixie85

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Quote from: huu78 on October 25, 2019, 11:33:36 PM

Yes, this is not manipulation. This is good news that causes Bitcoin to go straight up.
Xi Jinping, the president of the People's Republic of China and the general secretary of the Communist Party of China,
said the country needs to "Seize opportunities" given by blockchain technology. Currently all on a buy panic. Go to the moon now?

Don't be too hyped with this news because to them blockchain technology doesn't mean bitcoin/ They don't want to weaken their fiat money.

They will rather try to enhance digital fiat money transfers with blockchain tech or similar or make their own cryptocurrency especially that the US is struggling to give libra the green light. If china is faster than USA in approving their own it's going to be seen as a big success by Chinese nationals.

PryptoMontreal

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Quote from: ReiMomo on October 26, 2019, 02:59:08 AM

Probably yes, we don't know what is the accurate reason for this triggering sudden pumped up. I ever there are manipulators or whales they are also getting tired probably because of having a mass adoption. As of now, I can see that the market rapidly surged upward, before it was struggling when it comes rising up it takes a week before it raises but now in just almost 2 days it has already a +40% increase in the market.
The promising of having the next halving is real.

The reason which Media is stating for the recent 15%+ pump in the prices is a mere statement made by China's President Xi Jinping where he embraced Bitcoin and Blockchain technology :
"Bitcoin prices surged Friday after the Chinese President said his countrymen should "seize the opportunity" afforded by blockchain technology."

China had banned Cryptocurrency exchanges back in 2017, so it's inevitable that the sentiments on the Chinese people surely got boosted up by the statement of World's second-largest economy's leader.
I believe that the dump to 7400$ was manipulated by a whale, but the recent pump is all-thanks to Xi which resulted in a short squeeze

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Quote from: ReiMomo on October 26, 2019, 02:59:08 AM

Probably yes, we don't know what is the accurate reason for this triggering sudden pumped up. I ever there are manipulators or whales they are also getting tired probably because of having a mass adoption. As of now, I can see that the market rapidly surged upward, before it was struggling when it comes rising up it takes a week before it raises but now in just almost 2 days it has already a +40% increase in the market.
The promising of having the next halving is real.

These are sign of halving working in favor of bitcoin price increase or else something which we are unable to understand as there was a recent post wherein a user have highlighted some dormant accounts holding 2982 bitcoin which were inactive from 2011 and they are all active all of a sudden. Mass a portion cannot push the market to an increase of almost 30% within few hours.

Sahyadri

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Ironically, that's the biggest manipulation. Bitcoin went up 30% in a jiffy liquidating a huge number of shorts as people were expecting more downfall as $7800 support was broken and hence the bear cycle was expected. Here, was the opportunity for the whales to play with the market. Price went up 30% defying all the expected trends and it seems we are back in bullish cycle. But I doubt this was the sustainable pump. I would like to see $11k resistance being crossed for any definitive trend.

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Quote from: darkangel11 on October 25, 2019, 12:43:15 PM

How about that? People were panicking when they saw someone dump and smart people were saying it's a manipulation since most of this dump was on Bitstamp. Now we're back up and not to the 8k where it all started but past that all the way to 8700 USD. It didn't even stumble on 8k like that level never existed and broke through higher.
I'm usually bullish but now even more after seeing this. How about you?

We will still face price manipulation from whales in the market in future but btc has potential that it attract investors to invest huge funds in btc which shift the momemtum towards the market in form of price rise.Now we stands at $9500 moving from $8200 in a single day.This year was not good for btc and predictions were going low to $5-$6k again as marker was bearish whole year but now pump have hit the market and we may see price above $10000 by the end of 2019.

error08

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Quote from: figmentofmyass on October 26, 2019, 02:52:56 AM

Quote from: gentlemand on October 26, 2019, 01:35:41 AM

I'm not sure what caused this movement but it does show how far there is to go until it starts to act sensibly.

We no doubt find this arousing but it sends something of a mixed signal - we're open for business but still off the fucking wall.

The percentages are similar to when it was sub 1 dollar.

seriously. it took months for the market to drill down to the $7000s, and all those losses were just erased in a day! madness......

in 24 hours, we went from $7389 to $10540---42.6% from low to high. that's enough to liquidate bitfinex shorts (which were chopped in half). usually we're just talking about bitmex. speaking of which:

I was watching the price chart yesterday, bitcoin was $7400 at 10.00 am (UTC) and reach $7700 at 15.30 pm, then the pump started, reach $8500 in an hour.
Bitcoin still fluctuates around $8500-$8600 until midnight 00.00 and be able to hit $10,300 at 01.40 am, less than 24 hours approximately 14 hours bitcoin pump from $7400 to $10,300 according to bitstamp chart. No doubt there is a huge influx of money into the bitcoin market but who did it? I believe it was entities responsible for bitcoin dump to $7280 a few days ago.

ReiMomo

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Probably yes, we don't know what is the accurate reason for this triggering sudden pumped up. I ever there are manipulators or whales they are also getting tired probably because of having a mass adoption. As of now, I can see that the market rapidly surged upward, before it was struggling when it comes rising up it takes a week before it raises but now in just almost 2 days it has already a +40% increase in the market.
The promising of having the next halving is real.

figmentofmyass

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Quote from: gentlemand on October 26, 2019, 01:35:41 AM

I'm not sure what caused this movement but it does show how far there is to go until it starts to act sensibly.

We no doubt find this arousing but it sends something of a mixed signal - we're open for business but still off the fucking wall.

The percentages are similar to when it was sub 1 dollar.

seriously. it took months for the market to drill down to the $7000s, and all those losses were just erased in a day! madness......

in 24 hours, we went from $7389 to $10540---42.6% from low to high. that's enough to liquidate bitfinex shorts (which were chopped in half). usually we're just talking about bitmex. speaking of which:

BitHodler

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Quote from: gentlemand on October 26, 2019, 01:35:41 AM

I'm not sure what caused this movement but it does show how far there is to go until it starts to act sensibly.

No one knows, but that's the beauty of this market. It shuts up every critic continuously, where these increases are also the reason they don't dare to short Bitcoin, because it would rekkt them hard.

People hoping for moon need to be aware that there is a general law within crypto that anything that goes up hard comes down hard.... especially when profits have to be taken by institutions of which most are closed now.

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Quote from: gentlemand on October 26, 2019, 01:35:41 AM

I'm not sure what caused this movement but it does show how far there is to go until it starts to act sensibly.

We no doubt find this arousing but it sends something of a mixed signal - we're open for business but still off the fucking wall.

The percentages are similar to when it was sub 1 dollar.

In the last couple weeks crypto hits by numerous unpleasant news include how a big project such as libra .. ( it might not really a form of cryptocurrency ) but in fact it bring a sentiment to people's views around the world regarding the whole cryptocurrency projection, another one is telegram tokens that postponed its distribution/launching due SEC emergency restraining order ... both project is well known as a mainstream app that backing cryptocurrency project.. people especially a newcomer having tough times to continue trust on crypto but the panic selling in the market happened right after those news published.

Yesterday ... a shocking statement come up from China president Xi Jinping's mouth called for the country to accelerate its adoption of blockchain technologies. Although it's not mentioning bitcoin directly... people seems got FOMO.

I believe there's no such thing as a coincidence, this is the fact. China well known actively banning crypto activity but now all of sudden... they want to support blockchain projects? Huh

? Well .. this might a temporary pump.

gentlemand

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I'm not sure what caused this movement but it does show how far there is to go until it starts to act sensibly.

We no doubt find this arousing but it sends something of a mixed signal - we're open for business but still off the fucking wall.

The percentages are similar to when it was sub 1 dollar.

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Quote from: darkangel11 on October 25, 2019, 02:47:36 PM

Quote from: exstasie on October 25, 2019, 01:45:40 PM

Oscillators are running high on the 1-hour and 4-hour time frames. So in the short term we're probably in for a pullback off $8,800. I do believe now that $7,300 was the bottom of this correction though.

I'll be more confident in that assessment once we form a higher low on the 4-hour, and after seeing how the next trading range develops. I'd prefer to see bulls hold strong in the $8,000s......that would make for an epic bear trap!

Dripping back below $7,700 would be a very bearish sign. That possibility is still there. There's a major decision point coming soon.

I also believe this was the bottom. The recovery was very strong, much stronger than the panic was during the dump. To be honest, there was almost no panic and the sales on bitstamp were measured perfectly to manipulate futures, which follows only 3 or 4 biggest exchanges, out of which bitstamp has the lowest volume and was the best target for manipulation. We'll see if they try this again.

i actually disagree. the "bottom" was $9500-$9800 and anything below that was considered "below bottom" which makes those prices a type of reverse or negative bubble which had to pop. and the evidence of the market reaction and the way this "reverse pop" took place supports that too, as you can see it was a sudden rise (similar to bubble pops which are sudden drops). both are similarly catastrophic as it is the characteristics of bubbles.

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Quote from: darkangel11 on October 25, 2019, 12:43:15 PM

How about that? People were panicking when they saw someone dump and smart people were saying it's a manipulation since most of this dump was on Bitstamp. Now we're back up and not to the 8k where it all started but past that all the way to 8700 USD. It didn't even stumble on 8k like that level never existed and broke through higher.
I'm usually bullish but now even more after seeing this. How about you?

It more than of $8k or beyond $9k now, because it's even $9,713 has broke up the price remarkably. I cannot express my feeling to see this progress begun to perform greatly, and every now and then we might see some impossible changes. Although I had and excitement for what I experienced lately, I prefer to remain calm and control myself so I may avoid myself dumping the holdings I had.

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Quote from: darkangel11 on October 25, 2019, 12:43:15 PM

It didn't even stumble on 8k like that level never existed and broke through higher.
I'm usually bullish but now even more after seeing this. How about you?

The market trend of bitcoin always surprises me, when the market was on a correction phase i was expecting the price to recover slowly but then the market soared 28.50% till now and it is moving higher, not sure the exact reason for the rally now but i guess the future market took the market down and now the month end contracts are done and the market is breaching new boundaries.

huu78

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Yes, this is not manipulation. This is good news that causes Bitcoin to go straight up.
Xi Jinping, the president of the People's Republic of China and the general secretary of the Communist Party of China,
said the country needs to "Seize opportunities" given by blockchain technology. Currently all on a buy panic. Go to the moon now?

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Quote from: Beparanf on October 25, 2019, 07:38:49 PM

Quote from: pixie85 on October 25, 2019, 04:49:52 PM

That 7300 level held strong. I even told one of my friends to buy when we touched 7500 and he almost got scared when we went 200 dollars lower but I told him to sleep on it and now he's so happy that when I asked if he's planning to take some profit he was like -nah, I'm gonna hold long term Cool

I don't remember being bearish about Bitcoin even for a day since we broke 5000 dollars this year.

We never know how long this bullish will happen so it's good he is able to buy that amount, $7300 is all it can let before it start being bullish without us expecting it, It may be true about China but the tremendous effect been too fast in just one night, coincidence or manipulated doesn't matter since we really know that BTC is really capable of increasing this fast when adoption happens another 2017 spike might happen even in altcoins it moving fast.

Bitcoin just made a sudden reversal and is now almost at $10,000. This has been a very amazing run and I am considering it as a mini bull run before the year ends. While there had been many people telling us that Bitcoin will be touching the $6000 before it can go back growing again, Bitcoin proved them wrong with this abrupt upward movement.

Of course, there is no guarantee that it can hold on to this current level but this can be a very encouraging move from Bitcoin and the message is quite clear: Don't just give up on your Bitcoin, it got many secrets under its sleeves. Those people who bought Bitcoin when ti touched $7400 are now happy and satisfied.

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Quote from: exstasie on October 25, 2019, 01:45:40 PM

Oscillators are running high on the 1-hour and 4-hour time frames. So in the short term we're probably in for a pullback off $8,800. I do believe now that $7,300 was the bottom of this correction though.

I'll be more confident in that assessment once we form a higher low on the 4-hour, and after seeing how the next trading range develops. I'd prefer to see bulls hold strong in the $8,000s......that would make for an epic bear trap!

Dripping back below $7,700 would be a very bearish sign. That possibility is still there. There's a major decision point coming soon.

And we're already in the 10k bro. Guess the pullback didn't happen then. I'd expect one though since the pump was seriously way too unnatural with how it jumped to 10k in less than a day from 7300$. Luckily, this shows that the news regarding quantum supremacy were not enough to affect the market and the drop to 7300 was just temporary due to a sudden dump ny a few traders.

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Quote from: pixie85 on October 25, 2019, 04:49:52 PM

That 7300 level held strong. I even told one of my friends to buy when we touched 7500 and he almost got scared when we went 200 dollars lower but I told him to sleep on it and now he's so happy that when I asked if he's planning to take some profit he was like -nah, I'm gonna hold long term Cool

I don't remember being bearish about Bitcoin even for a day since we broke 5000 dollars this year.

We never know how long this bullish will happen so it's good he is able to buy that amount, $7300 is all it can let before it start being bullish without us expecting it, It may be true about China but the tremendous effect been too fast in just one night, coincidence or manipulated doesn't matter since we really know that BTC is really capable of increasing this fast when adoption happens another 2017 spike might happen even in altcoins it moving fast.

dark08

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This is amazing run for bitcoin in just couple of hours the price move upto $1200 I think this news https://www.coindesk.com/president-xi-says-china-should-seize-opportunity-to-adopt-blockchain?utm_source=twitter&utm_medium=coindesk&utm_term&utm_content&utm_campaign=Organic%20&&__twitter_impression=true have an impact to the market just checking the daily timeframe its look like bullish confirming on rsi and macd divergence.

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Quote from: BitHodler on October 25, 2019, 03:29:07 PM

I was quite bearish in the last couple of weeks but have to say that I am very impressed by this reaction of the bulls, which is indicative of strength. I'm not going to say that we're out of the woods yet, but I'm very optimistic.

Yup, we need a few things to happen first before I'd consider the bottom "confirmed."

1) Daily close: right now it's a bullish engulfing candle. We need to close the day above $8,049 to confirm the last dump as a failure.
2) Weekly close in 2 days: right now it's a dragonfly doji or hammer, both very bullish. We need to close the week that way.
3) VPVR notch, historical pivots, and 50-week MA at the $9,000 area: I think we will consolidate/pull back against this level. We need bulls to form a solid higher low.

Higher lows, higher highs, and then we've got a stew going......

Quote from: BitHodler on October 25, 2019, 03:29:07 PM

It's yet another case of how the bearish sentiment of the mass works perfectly as counter indicator.

Totally. People have been uber bearish lately.

pixie85

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That 7300 level held strong. I even told one of my friends to buy when we touched 7500 and he almost got scared when we went 200 dollars lower but I told him to sleep on it and now he's so happy that when I asked if he's planning to take some profit he was like -nah, I'm gonna hold long term Cool

I don't remember being bearish about Bitcoin even for a day since we broke 5000 dollars this year.

BitHodler

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I was quite bearish in the last couple of weeks but have to say that I am very impressed by this reaction of the bulls, which is indicative of strength. I'm not going to say that we're out of the woods yet, but I'm very optimistic.

It's so funny when you see the price go up like $200 that you aren't interested at all, then hours later turns out that $200 increase was the start of an incredible pump that went higher than most people could have imagined.

It's yet another case of how the bearish sentiment of the mass works perfectly as counter indicator. The only thing is that with lower weekend volumes we might see the price give up some of its gains, so don't be surprised by that.

darkangel11

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Quote from: Doell on October 25, 2019, 12:56:39 PM

many opinion also talk about going down to 5000 usd and 6000 usd but I don't care about that ,manipulation we often encounter and I still trust big investors who can make the impossible to possible or vice versa ,my opinion maybe will continue to advance and certainly there is still possible hold on wall between 9000 usd - 11,000 usd at the end of this month

5k is the bottom of the long term trendline for BTC but it doesn't mean we have to touch it. As long as we don't go lower we'll continue to do what Bitcoin has been doing for the past 10 years. 9-10k is a fine price, sort of a half-way between 5-6k that used to be a strong support in 2018 and 15k that we couldn't break this year.

Quote from: exstasie on October 25, 2019, 01:45:40 PM

Oscillators are running high on the 1-hour and 4-hour time frames. So in the short term we're probably in for a pullback off $8,800. I do believe now that $7,300 was the bottom of this correction though.

I'll be more confident in that assessment once we form a higher low on the 4-hour, and after seeing how the next trading range develops. I'd prefer to see bulls hold strong in the $8,000s......that would make for an epic bear trap!

Dripping back below $7,700 would be a very bearish sign. That possibility is still there. There's a major decision point coming soon.

I also believe this was the bottom. The recovery was very strong, much stronger than the panic was during the dump. To be honest, there was almost no panic and the sales on bitstamp were measured perfectly to manipulate futures, which follows only 3 or 4 biggest exchanges, out of which bitstamp has the lowest volume and was the best target for manipulation. We'll see if they try this again.

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Quote from: darkangel11 on October 25, 2019, 12:43:15 PM

How about that? People were panicking when they saw someone dump and smart people were saying it's a manipulation since most of this dump was on Bitstamp. Now we're back up and not to the 8k where it all started but past that all the way to 8700 USD. It didn't even stumble on 8k like that level never existed and broke through higher.
I'm usually bullish but now even more after seeing this. How about you?

Oscillators are running high on the 1-hour and 4-hour time frames. So in the short term we're probably in for a pullback off $8,800. I do believe now that $7,300 was the bottom of this correction though.

I'll be more confident in that assessment once we form a higher low on the 4-hour, and after seeing how the next trading range develops. I'd prefer to see bulls hold strong in the $8,000s......that would make for an epic bear trap!

Dripping back below $7,700 would be a very bearish sign. That possibility is still there. There's a major decision point coming soon.

Doell

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many opinion also talk about going down to 5000 usd and 6000 usd but I don't care about that ,manipulation we often encounter and I still trust big investors who can make the impossible to possible or vice versa ,my opinion maybe will continue to advance and certainly there is still possible hold on wall between 9000 usd - 11,000 usd at the end of this month

darkangel11

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How about that? People were panicking when they saw someone dump and smart people were saying it's a manipulation since most of this dump was on Bitstamp. Now we're back up and not to the 8k where it all started but past that all the way to 8700 USD. It didn't even stumble on 8k like that level never existed and broke through higher.
I'm usually bullish but now even more after seeing this. How about you?

Topic: [2019-10-25] Bitcoin price doesn't care about manipulators and is up $1200 in 2h (Read 393 times)