Fake dump - page 2. | Bitcointalksearch.org

davinchi

legendary

Activity: 2100

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Quote from: hugeblack on October 31, 2018, 10:52:04 PM

We can say that the price turned to a "bearish zone" after the support rally at 6390.
The price has stabilized. Therefore, the move of $ 100 may control the market sentiment for several days. After the rate dropped to less than $ 6,300, it is unlikely to rise in the coming days, but maintain the level at 6350. And the bottom at 6100.
So what happened was not a "Fake dump."

Not a fake dump at all. We all know that this current market is getting to the apex and it has been a fight all along between the bulls and the bears and as a result of that, we have been seeing the market moving sideways.

The bears are still in the market, and it is obvious with the level of indecision currently in the market, the bears still keep trying to want to dump, but the bulls are still strong enough to keep fighting back, so at some point, someone would get weak between these two groups and that is when we will possibly be seeing the breakout happen eventually.

darewaller

hero member

Activity: 2968

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This is not a "pump". Pump is when something goes up and goes down insanely. Bitcoin should go to 15 thousand dollars and drop back to 5 thousand dollars in order to call it a "pump".

What happened here is a speculative movement that was manipulated by the whales but certainly not even remotely enough to be called pump. They are only viable when something goes up or down 20% give or take.

Do not create fear in people by calling bitcoin had a pump, bitcoin is too big to have a pump. Even during the best days of it when it went up from 3 thousand to 20 thousand dollars it took almost a full month to reach there, we didn't had that 20 thousand dollars in a single day. However the sudden quick rises and falls in bitcoin price really does create a untrustworthy look for it from the eyes of a traditional investor, I will give you that.

BitHodler

legendary

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Quote from: cellard on November 01, 2018, 09:30:48 PM

Indeed, there's a lot of sub $1000 hodlers out there, however the lowest you go the entry points, the higher chances that they will not sell because the lowest the entry point, the highest IQ and therefore understanding of what money is, concepts like hard money, understanding of the risk of holding ponzi fiat scheme currencies contrary to bitcoin, understanding of up and coming bond market collapse and so on. So it's mostly all the crypto kids of class of 2017 that panic sell. Holders before MtGox collapse have been through hell and back and will not find flaws on the fundamentals to sell. Also usually they most likely were very well off before Bitcoin/already sold enough to not need to reduce their BTC position.

When people need money they don't look at anything related to the fundamentals or why Bitcoin is better money than fiat. Bills and most goods are still paid in fiat, which is why OGs will keep selling.

Another thing is that not everyone cares Bitcoin like we here do. I'm sure that most investors are pretty neutral and just look to ride the market as it comes. They will sell without feeling anything other than relief.

I actually would prefer OGs to be unloading some of their coins, because that makes sure their coins are bought up at much higher levels, and it results in a better form of wealth distribution.

Instead of 1 person hodling thousands of coins, we'll see these coins flow in the pockets of potentially hundreds of hodlers.

cluit

legendary

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Quote from: XinXan on October 31, 2018, 11:32:55 AM

So we basically just had a fake dump, also called fakeout for bitcoin. The bulls definitely bought the dip this time even though it wasn't too big, currently trading at 6400$ perhaps we are able to climb back to 6600$

At this point, whether a dump or a pump is fake or not, only time will actually tell, but at this point, the fact remains that nothing is actually clear yet.

Yes, there is no doubt that the long wicks on the way down pretty much shows that a whale is really trying as much as possible to keep buying the dips, and in that case, there is still every chance and opportunity that we may still be inside this triangle for some few days as the bears are still trying to make something out of it as well. However, things turn out; I guess we will be seeing that breakout we have been expecting pretty soon. All I am actually seeing more of here is bots at work.

cellard

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Quote from: BitHodler on November 01, 2018, 08:51:27 AM

Quote from: slaman29 on November 01, 2018, 07:01:23 AM

What's the difference between fake and genuine? When you didn't expect it or there doesn't seem to be a reason, then it's fake? And when it reached your predictions and had all the reasons, it's real?

It seems that some people don't think there are actual sellers around current levels because of how it is believed to be "very low". In that sense, the dumps have to be related to manipulation, because what 'normal' person sells right now? Cheesy

The reality is that there are enough longer term hodlers out here with sub $1000 coins looking at $6000 as a pretty decent exit point in case they need the funds. It's a free market in the end, so people can do whatever they want.

If the crypto market is indeed ruled by manipulation as people believe it is, can we still call it manipulation if most participants apply the same type of trading strategies? It evens out the playing field in my book.

Indeed, there's a lot of sub $1000 hodlers out there, however the lowest you go the entry points, the higher chances that they will not sell because the lowest the entry point, the highest IQ and therefore understanding of what money is, concepts like hard money, understanding of the risk of holding ponzi fiat scheme currencies contrary to bitcoin, understanding of up and coming bond market collapse and so on. So it's mostly all the crypto kids of class of 2017 that panic sell. Holders before MtGox collapse have been through hell and back and will not find flaws on the fundamentals to sell. Also usually they most likely were very well off before Bitcoin/already sold enough to not need to reduce their BTC position.

exstasie

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Quote from: adaseb on November 01, 2018, 01:33:07 AM

What was very strange about the last dump, basically the one that went from $6400 to $6200 and now is around $6300. Is that the open interest actually increased right after that dump.

Not while it dumped since there was liquidations but shortly after during the bounce the OI reached an ATH pretty much on Bitmex. And we are still at a very high OI on Bitmex.

Normally when a dump like that happens the OI is decreased and stays lower until the next stop hunt.

Also the funding rate was positive right away which means the contracts opened was more scaled to the longs than shorts. So basically the dip was completely bought up.

Thanks for pointing that out. I often forget to look at Bitmex positions and just look at Bitfinex. On Bitfinex, shorts were definitely closing into the dump. Shorts are down ~3,500 BTC since that day. Longs are rising as well. Open interest is way down from last month though. I'm not sure what to make of that.

STT

legendary

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Quote from: imapessimist on October 31, 2018, 05:12:02 PM

Nobody should buy the dip at the moment I'd say. too uncertain. But folk must make their own choices I suppose.

There is no perfect point, I would just say be aware of where the rough boundaries are to price movement. So this is my current view of the pricing and previous trends extrapolated:

The blue line is 8 day moving average and I think we are into a positive trend when we trade above that price, about 6350. Clearly there is support below even if the dip took us lower it was not especially substantial in that regard.

arpon11

sr. member

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Quote from: XinXan on October 31, 2018, 11:32:55 AM

So we basically just had a fake dump, also called fakeout for bitcoin. The bulls definitely bought the dip this time even though it wasn't too big, currently trading at 6400$ perhaps we are able to climb back to 6600$

The bear has no capacity to makes a huge move again and bull are preparing to move the market upward. I think we should buy now and I joined op to say bitcoin is heading toward $6600. The little corrections we just have is a sign that the bear thought it can still make a surprise but we can see that bitcoin is back up.

dunfida

legendary

Activity: 3122

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Quote from: XinXan on October 31, 2018, 11:32:55 AM

So we basically just had a fake dump, also called fakeout for bitcoin. The bulls definitely bought the dip this time even though it wasn't too big, currently trading at 6400$ perhaps we are able to climb back to 6600$

As of this writing, price of bitcoin did able to reach down 6200+ which it isn't new that anytime it can dip further more. Fake outs or bull traps are just normal on this very unpredictable market.
Lots of people get victimized hoping that this is already the start of bull run but eventually it was just a fake out and making some shorts by big players.

YuginKadoya

legendary

Activity: 3038

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Quote from: tokeweed on November 01, 2018, 09:05:13 AM

What was fake about the latest mini dump? What if it's just some long time holder selling some of his stash cos he thinks buying a sick mansion in Monaco is a better investment? Grin

Or a holiday season spender, We should consider if the value would fall it is not always a dump by whales or another common group of holders that could manipulate a small dip it can be anything, And right now we are in a brink of entering the holiday season expect more dips to come but for the meantime I really want to see bitcoin reaching the $6500 mark or $6700 value trading without much movement is getting more boing at the moment.

tokeweed

legendary

Activity: 3976

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Life, Love and Laughter...

What was fake about the latest mini dump? What if it's just some long time holder selling some of his stash cos he thinks buying a sick mansion in Monaco is a better investment? Grin

BitHodler

legendary

Activity: 1526

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Quote from: slaman29 on November 01, 2018, 07:01:23 AM

What's the difference between fake and genuine? When you didn't expect it or there doesn't seem to be a reason, then it's fake? And when it reached your predictions and had all the reasons, it's real?

It seems that some people don't think there are actual sellers around current levels because of how it is believed to be "very low". In that sense, the dumps have to be related to manipulation, because what 'normal' person sells right now? Cheesy

The reality is that there are enough longer term hodlers out here with sub $1000 coins looking at $6000 as a pretty decent exit point in case they need the funds. It's a free market in the end, so people can do whatever they want.

If the crypto market is indeed ruled by manipulation as people believe it is, can we still call it manipulation if most participants apply the same type of trading strategies? It evens out the playing field in my book.

slaman29

legendary

Activity: 2674

Merit: 1226

Livecasino, 20% cashback, no fuss payouts.

What's the difference between fake and genuine? When you didn't expect it or there doesn't seem to be a reason, then it's fake? And when it reached your predictions and had all the reasons, it's real?

And fake or real, what's the effect? The market still moves, price still climbs or falls. What's the point in identifying fake or real dumps and pumps? Price duping? You guys should just get on with the game and play it by the lack of rules.

Cacingkemi

hero member

Activity: 1484

Merit: 516

Looking at some of the fake dump angles that you say seems right,looking at the BTC chart also has a few fake dumps imo this is not a fake but on a small scale.Dump words are identical to the very drastic drop to hit the spot at the specified point,like a group of people managed to hit it and come back again but this can also be said to be a correction show the graph to everyone The market situation is very complicated lately.

sorrysteve1

full member

Activity: 294

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WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN

The whales seem to be losing their powers of manipulation, with the price only moving a few hundred dollars at most in one direction or the other. It only further supports the conclusion that a big movement is coming soon in one direction or the other. After all of the suffering in the market throughout 2019 I'm growing each day in optimism for 2019.

Pursuer

legendary

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Where is my ring of blades...

looking at the charts. the size of what you are calling "dump" has been pretty small. it was a small price drop and also the volume of it has been small. which means you can't exactly call this a "dump". I suppose a dump in a sense that you have in mind which has (in the past) led to a follow up rise, is bigger and will bring the price below the buy support line to test the readiness of the market while getting some low bid orders of the whales filled up with the newbie panic seller's bitcoins at cheaper prices.

slocker

full member

Activity: 490

Merit: 134

I dont know why this could be a issue or problem. We had something like this in past so price duping and going back for 100-200 dollars or euros in price is nothing comparing to big ones that are with 4 digits.

Also found some interesting article that can be connected with this price drop and may be the reason for it. Here is the link https://smartereum.com/5636/the-real-reason-behind-bitcoins-price-crash-revealed-wed-oct-31/

frchowe214

member

Activity: 402

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Yesterday was a special day so it is possibe that someone tried to take advantage of that situation when people were celebrating bitcoin. Some one might have tried to trigger a dump with a buyback in mind

adaseb

legendary

Activity: 3808

Merit: 1723

What was very strange about the last dump, basically the one that went from $6400 to $6200 and now is around $6300. Is that the open interest actually increased right after that dump.

Not while it dumped since there was liquidations but shortly after during the bounce the OI reached an ATH pretty much on Bitmex. And we are still at a very high OI on Bitmex.

Normally when a dump like that happens the OI is decreased and stays lower until the next stop hunt.

Also the funding rate was positive right away which means the contracts opened was more scaled to the longs than shorts. So basically the dip was completely bought up.

snipie

legendary

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#SWGT CERTIK Audited

Quote from: davis196 on November 01, 2018, 01:04:39 AM

OP,do you track the bitcoin price every half hour?

It looks like this Tongue

I took a close look some times ago at the price and i found it goes low in the morning (considering GMT time) then it goes high at the afternoon. Indeed it is just volatility.

Topic: Fake dump - page 2. (Read 810 times)