Topic: $3.20 in one big buy? - page 4. (Read 6291 times)

The problem is that if they would take the price up to let say 4 dollars, they will most likely lose even more money.

My thought is this, there is a cartel right now that really wants to get the price to high levels again, like 5-15 dollars, but they also understand economics, so they know that they are fighting a hard competitor, in this case the miners (with the high inflation environment). They have the resources to take it up, meaning they have the fiat money. But, the problem is that they are already heavily invested in Bitcoin and they have been burnt really bad with the downturn from 30 dollars to 2 dollars.

They have three options.

1. Hold what they have. And lets see what the market does. This option I think will take Bitcoin back to 2 dollars within 1-2 months.

2. Buy as crazy and fast as they can and push it up over 4 dollars hoping to get others to bid it up even more. This will fail, and the reason is exactly why it failed last time, after a while it will go back, maybe from 5 dollars or something like that, but it will get back to 2 dollars in the end, the miners will sell as crazy in to that rally and panic will come back.

3. This is the smartest option. Lets assume they have 300 000 Bitcoins in total them selves. What I would have done is to sell 1/3 of that (around two weeks of Bitcoins created by miners), why? Because at 2 dollars they will get rid of all the greedy miners plus they can then accumulated back their 100 000 bitcoins that they sold at much lower levels, like 1,5-2 dollars, and from there build the price up. They will be the big winners. In the other two options, they will go for the greedy option and fail.


As a summary all options will take Bitcoin price back to two dollars. The different is the dates this will happen. I have been 100 % right with all my predictions until today, so lets see what the markets does this time.

So be it. I've been scavenging the table scraps. This is the best I've done in days.

Yeah, and I think the one drop to 3.01 was clearly a mistaken low ask, he quickly bought it right back up, I knew I should of bought but I was greedy 

I think two big players (and wanna-be manipulators) are duking it out.

buy prices up
wait for suckers to place orders before your bidwall
sell bitcoins
??
profit

I think it's probably choking when it tries to send out 2000 orders over 250 different connections within 10 seconds.

I found it was responding fine...until I refreshed!   

I have noticed that virtually every time we have major market moves MTGoxlive goes down. Thankfully there are a few other sites that track mtgox in real time  so it doesnt hurt to have all of them running at once. I am not sure if it is a volume thing that is bringing mtgoxlive down but I dont think its a DOS attack. I am getting a 404 error which is new and a DOS attack would leave it unreachable.

I'm now thinking the Manipulator is a couple guys on IRC who drink to much and mess with the market for shits and giggles.

Note to self: DOS mtgoxlive via a few 20,000btc trades.

Ahem...

Get them while their hot!

And minutes later, we're right back to PI.

Selloff was happening before mtgoxlive crashed. I saw it drop to 3.00 and then lost connection to mtgoxlive.

I watched it fall, then mtgoxlive went out.

I wonder if the selloff has anything to do with the fact that mtgoxlive isn't working at the moment.

now

Ah, that sounds like the capitalism I know: using money as a tool to make more money.

I guess the question is, at what point will they stop driving up the price, and start to sell to recoup their investment?

I believe I saw what was a 300k transaction on bitcoinuity.  The Manipulator has nothing else to do on a Saturday night.

the bubble will not form easily.

The price may have moved a little more, but this surge to 3.20 was half the volume of the jump from 3-3.13 a few hours ago.