Topic: I SAW 21000 BTC SELL WALL TODAYT - page 2. (Read 3836 times)

I've been watching the market, and I *think* I'm seeing a pattern.

I could be wrong about this.  But the market response to price changes in Bitcoin has been "off" of normal patterns for several months. 

When the price of Bitcoin is lower, substantially more of it changes hands daily.  This is a normal pattern in itself, but for the last few months, the market's volume response to prices is MUCH steeper than it had been previously -- in fact steeper than makes any sense according to my understanding of the market.   

In practice, it looks like there is a lot of money out there waiting to buy Bitcoin, but it's in absolutely no hurry, absolutely not worried that the price might go up before it gets to buy as much as it wants, and calmly waiting for the price to go lower. 

And indeed, when the price goes even a little higher than its recent averages we see the volume of sales drop like a rock.  The scarcity of trades on price upswings is just as pronounced as the huge volume on the downswing that the so-called 'bear whale' brought out.  In fact the 'bear whale' nailed the pattern:  price declined by ~$30 US, volume more than tripled.

The thing is, for this behavior to be rational, some HUGE investors (who want to be long in Bitcoin, in the long run) have got to be utterly, completely confident that the market price will NOT recover before they damn well want it to.  Whoever it is - or whatever coalition of people it is - that has this money appears to be absolutely certain that nobody ELSE with money will set off a bull market before they have as much bitcoin as they want.

I think there is a good chance he was trading with himself, at least partially. The percentage of buy orders was simply too high, and at a time when people were not buying in those quantities to have the sell wall eatten as quickly as it was and without the price decline that I would have expected to have seen. Also the price rose substantially (10+ percent) in the few days after the bear whale sold his 30k+ bitcoin which is the opposite of what would normally be expected

In the other thread we mentioned this sell wall already.

It was fully filled and most likely an old adopter.

This kind of man ruins bitcoin and himself. Hoping the people who bought his BTC are Holders if yes... BTC will go up even more!

I just cant wait for the moment when 1 huobi whale market buys with $1 million and panic sellers get so screwed over. that will be a sad day for the panic sellers, they'll recognize they've been manipulated

Lol..  I see that. 

There were massive number of buy orders on the bitstamp ticker that were eating up the bear whale. If you were watching the ticker almost all of the orders were green (buy orders at the asking price)

another whale sayin fuk bitcoin lol.

How do you know it was legit eaten? It could be the owner of the wall slowly removing quantities to make it look as if it's getting eaten. Did you actually check the transactions being actual buys??

that really good profit for an exchange site we guys can't even make 1btc in months lol

or 500k BTC

A lot of people often made mistake
But, this mistake is too huge 

The exchanger have big profit 
If they set the fee 0.2%, they got 42 BTC when he/she sell it & 42 BTC when he/she buy it again


Because they use bitcoin to get more fiat 

if this was really the case then it would be very difficult bitcoin prices to rise rapidly, although the rise, will rise at least a little by little, I hope that it does not really happen, hopefully ... 

I believe it was actually a 30k sell wall but that it not the point. I was very surprised as to how quickly the sell wall was eaten up. I would speculate that the person behind the sell wall was hoping to be able to manipulate the price to fall and then would use fiat already in another account to purchase large amounts of bitcoin at an artificially lower price. I think there were just too many buy orders that ate up the wall for it to not have been some kind of manipulation

Maybe he have 100k btc, 21k is only merely part of the profit..

Just checked their wallet, there are still over 20k btc waiting to be cash out.

I don't get why people fund these guys...  If they are just going ot dump F them...

Honestly if they are just going to make an alt instead of building on BTC.. F them.

Ethereum wallet was moved again on Oct 4th, expect another 1000+ btc dump on the market soon.

maybe its not a whale who sell that
i think miner sell it for electricity bill , well maybe they dont want to sell it.
but they need money to cover all their daily bill

How sure are you that there was really a 21k btc sell wall earlier? Can you give us proofs or the likes?


If that ever happened, I think it's just a whale trying to get some attention. He can pull out his sell wall if he wants to. Maybe the sell wall isn't eaten THAT FAST because imagine that amount of money you need to have in order to 'eat' that sell wall.

Oh whales, how I hate thee. :3