The bid (buy) side of mt gox has increased 200%-500% or more since the last time I looked yesterday. Looks like he is not buying bitcoins at market but trying to make the bid side look like there are many people wanting to buy. This guy has bought many bitcoins with his manipulation and almost always has lost, due to the price not going as high as he intended
What does this mean?
He does not really buy bitcoins to push the value higher, he only buys them when the price gets lower. He triese to suck you into thinking that there is lots of demand and buying at higher prices is supported by many bid orders.
He has always pulled out of the market eventually causing the price to always go lower
Buying if the price goes much higher because of his manipulation is very risky. SO my recommendation would be to sell once the price goes higher and seems like it is stalling. We may see the price peak around $8.00 - $10.00 with his manipulation. If it hits this mark, SELL SELL SELL.
Learn to beat this manipulator, and profit from him and other morons who think that the price is going to the moon.
SO I would buy in the range right above his manipulation point of around $6.7-$7.2, hold, and sell once we stabalize around $8.00 to $10.00. Can make fast money. Make sure you watch the bid side and see that it is bloated.
EDIT: I bought in around the time I bought this below $7.00.
Topic: Looks like the Manipulator is back in the market. Buy-hold-SELL SELL SELL - page 3. (Read 3902 times)
September 07, 2011, 10:11:28 AM
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