Topic: 50K bidwall at 2.30 - Crash over? - page 5. (Read 8065 times)
So, what do we reckon about the fake $2.20 support and the rising price this time? Another pump 'n dump cycle coming in the next couple of hours? The market may be wisening up to this (finally) as there's only $1200 or so required to go from $2.30 to the $2.20 'wall'.
Those bitcoin traders who wised up to this behaviour months ago are riding the waves, others are getting crushed by them time and time again.
You nailed it dude. I learned how to trade the BTC market months ago. This is just more of the same, but more fun because 50k BTC is being thrown around like mad. I couldn't trade stocks like this (practice virtual account) but the Forex market is *very* similar to the BTC [forex essentially] market so I opened up a practice Forex account with one of the larger MM's, used my BTC trading skills, and pulled away with almost 100% profitable trades.So your practice forex account is not real money? Can you explain what you mean by "larger MMs" ?
I would like to open a Forex account too !
SJ
Just made 10% off that last "crash" to $2.20 
I really like this "manipulator" guy.
He is making this easy, isn't he? I really like this "manipulator" guy.Hey Phorensic, you rock. I am trying to figure this out too, see if a modest but almost sure 5% return can be gotten.
Are you doing well on Forex?
SJ
I see they are back with 60k at 2.20. I wonder how long before they pull out this time if the trend continues?
Edit
Correction I see 50k
Edit
Correction I see 50k
New 'wall' at $2.20! We're saved! 
Those bitcoin traders who wised up to this behaviour months ago are riding the waves, others are getting crushed by them time and time again.
You nailed it dude. I learned how to trade the BTC market months ago. This is just more of the same, but more fun because 50k BTC is being thrown around like mad. I couldn't trade stocks like this (practice virtual account) but the Forex market is *very* similar to the BTC [forex essentially] market so I opened up a practice Forex account with one of the larger MM's, used my BTC trading skills, and pulled away with almost 100% profitable trades. Just made 10% off that last "crash" to $2.20 I really like this "manipulator" guy.
He is making this easy, isn't he? I really like this "manipulator" guy.Seriously, you guys haven't figure it out yet? The bet this guy is making is that the impressive amounts of cash he puts up will induce confidence in people such that they place bids ahead of his large bids. He then drops his bids and sells into the bids that built up ahead of his. Rinse, repeat. He's cashing out, not getting in.
It really is quite simple to execute and beautiful to watch when it happens. Those bitcoin traders who wised up to this behaviour months ago are riding the waves, others are getting crushed by them time and time again. It's a true libertarian market, without rules and regulations, laws and other things that get in the way.
aaaaand... it's gone.
To the OP: Sure, a single person propping up the price means the end of the bear market... Until that person decides they're done. Then the market goes back to being a market. The only way it lasts is if he convinces enough people that the bad times are over.
IMO he'll have to spend a lot more to overcome the overall downtrend which is, again IMO, due to bearish fundamentals.
To the OP: Sure, a single person propping up the price means the end of the bear market... Until that person decides they're done. Then the market goes back to being a market. The only way it lasts is if he convinces enough people that the bad times are over.
IMO he'll have to spend a lot more to overcome the overall downtrend which is, again IMO, due to bearish fundamentals.
Just made 10% off that last "crash" to $2.20 I really like this "manipulator" guy.
He is making this easy, isn't he? I really like this "manipulator" guy.Just made 10% off that last "crash" to $2.20 I really like this "manipulator" guy.
I really like this "manipulator" guy.I have 0 invested but when I go to sell the coins I made mining it would be nice if they were worth something lol. Still lets see what happens over the next few days. Quite frankly Im surprised MtGox hasnt suspended this account for causing so much volatility but i guess they dont care since they get a cut off every transaction anyways.
Just made 10% off that last "crash" to $2.20 I really like this "manipulator" guy.
I really like this "manipulator" guy.
Stand aside sprouts...the big kids are playing.
lol gone
Funny how you saw this before I could and I reloaded twice. Are you the manipulator?
Seriously, you guys haven't figure it out yet? The bet this guy is making is that the impressive amounts of cash he puts up will induce confidence in people such that they place bids ahead of his large bids. He then drops his bids and sells into the bids that built up ahead of his. Rinse, repeat. He's cashing out, not getting in.
$2.20. The walls are there to play mind games with traders and to fool bots. They mean nothing and are only there to look pretty.
lol gone
I see now that they split the bidwall up but it is higher than 2.35 at the lowest. We are up to 2.488 now. I dont think they are trying to double down in coins but maintain coin volume and purely for profit taking. Whatever amount they buy at x price is the sell price-x times 50k in profit. Not bad for a days manipulating.
Wow, now back up to 2.45 in steps from the big 2.30 bidwall. Theoretically this could be the manipulator hedging his bets from his profits from the dive yesterday (still today here). Pretty good profit but it would be funny if they ended up losing money because of the price of bitcoins rising.
More bitcoins were moved in the two hours of uptrend after the big sell than during the sell. You can't assume the sell wasn't a buyer's way of doubling down for a nice low price.
Wow, now back up to 2.45 in steps from the big 2.30 bidwall. Theoretically this could be the manipulator hedging his bets from his profits from the dive yesterday (still today here). Pretty good profit but it would be funny if they ended up losing money because of the price of bitcoins rising.
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