Topic: Looks like the market manipulator is back. But for how long? (Read 3581 times)

...The "it was a big manipulator" argument...


#we'veTalkedAboutThisBefore

Edward50 can talk out of his ass. What a nice trick 

Yes, there's "a manipulator" here: Edward50 

It's much cheaper to lower the market by giving sell advices and see how many does bite it.

You ain't kidding.  I've got over a week's worth mining ready sell on mtgox.  As bitcoin dropped to roughly Europe power costs to produce without even accounting for hardware depreciation & wear/tear I've pretty much moved to the "double or nothing" mindset for my mined coins.  I'm going long through mining quickly enough, so no need to buy on the market.  But I am ever so ready to take a dump onto any significant rally.

It finally cracked and fell to 8.45, currently there are no major bidwalls until $8.00. Very week bid demand could mean another fall very shortly. If the bitcoin conference is over a week away your better off waiting to buy lower than around $10.00

Most buyers are not stupid and will not buy higher than around $10.00. Many miners have been hording and are waiting to pounce on the right opportunity to dump their vast hoards of bitcoins. Pesonally, it is far too risky to be buying at the current high prices.

I agree, I split my BTC and $ evenly and will wait and see.

Its gonna be a great weekend for the Bitcoin show

Seems really shaky now, falling down to 9.29. However, I heard that there is a bitcion conference. I do not know anything about this, but these things sometimes causes mini-rallies.

So I would proceed with caution as there is a chance for a mini-rally before the price goes back lower.

So my recommendation would be to honestly sit out, get ready to sell during the peak of the mini-rally. If you want to gamble, maybe you could pick some up now to dump, but do not hold it for long.

speak of the devil...there he goes again

glad I sold at 10.1...I will see you on the other side of 8

I am just glad that the manipulator is consistent in setting up the trades beforehand where you can see it coming.

When it was $8 and he pumped it up to $12 I was ready. Unfortunately I got off at $10 instead of $12.

Yes, you will.

Price manipulation is what makes this bitcoin market so much fun to watch.  Action like last night's sudden buying binge from $10 to $12, and the rapid drop back again are popcorn moments.  If one person wants to pump and dump the market then so be it.  It's a good test of a free market completely free of pesky government intervention and regulation that only serves to stifle innovation.  I'm hoping for a good show on the weekend too.

Please Mr Market Manipulator..... Drop to $8.7  

I'm jonesing to buy back in.. 

I call BS on 300k in new investors being as likely as 300k being cashed out.  Fresh meat is a bit hard to come by, but plenty of people have millions of dollars worth of bitcoins on hand.  It's just that they can't cash out without that turning that into hundreds of dollars of bitcoins on hand.

Plenty of people got in at the 5.80 resistance level or thereabouts and are looking at nearly double their money.  Meanwhile, many miners expressed the same sentiment -- "I'm not selling at or under cost."  Variance makes it hard to tell, but it looks like we kept on mining without slowing down while the price tanked.  Which means we all should all be sitting on quite a few coins -- I know I've got more at mtgox than ever, and I'm getting a bit antsy.

So I'm not sure I'm buying into the entire explosive rally thing.  The assumption being: every dollar pulled out while selling coins is available to buy back in -- but once again, from personal experience that's not true.  The money I've pulled out by selling coins over the past few months is never, ever going to buy bitcoins.  It's going to AMD and Antec.

What do you mean "long term"?  We're barely in the 2nd trading day of ~$10/BTC.  Price is not just going to rocket to $15 (and then $20) overnight, after reversing from a downtrend.  First there's a bounce (because the panic-sellers sold-out), then a slow climb (cautious traders selling into mis-predicted tops), before a big rally (when most traders stop selling and the latecomers are panic buying) and a correction (profit-taking by the traders and panic selling by the latecomers).


+1. 

As for manipulators, judging from daily volume and activity, there's more than one major player (having $100k+ for ~$50k trades). 

And between the big players, its more complex than repeated attempts at pump-and-dump.  I suspected at least one manipulation downward, starting from $14 with ask walls and big sells (How to Manipulate the Market), which eventually led to the sell-off. 

We can call big aggressive bets manipulation (or at least attempts), whether upwards or downwards.  It bottomed at six, and from there the ones betting upwards have won the most recent battle.  And judging from the bid depth (which is deeper than asks at the moment), the bulls came out better-funded; they don't seem to be backing off just yet.  So the chances that this is a reversal seem high enough, that I recommend holding for now (with a stop-loss at $9).

Of course. IMO at some stage the price will turn around but that won't be before it drops low enough to guarantee a return.


+1

Not sure why this 'play' is invisible to so many people...

I do not have anything backwards. There was large dumps after the manipulator pulled out as he was not there to keep the price artifically high, as the price dropped then people unloaded more and more. Without this manipulator who is trying to shore the price up, probably holding a sizeable portion of bitcoins, the sellers will easily push the market down. There just isn't enough buyers.

What tactics are you speaking of, I just call the market for how I see it. Far  to pricey for its current state and risk level. Read all my posts, I have been correct all along, and also predicted long ago it would fall into single digits. I own no bitcoins, and never found a price low enough yet that I think it is worth an investment.
 
I do like when it falls because of the fact that it is like a cult on this forum, you can not say anything negative about bitcoins. I also do not like the fact that they banned newbie posts the first time the price started to fall, I saw this as an attempt to manipulate by trying not to cause mass panic.

This whole bitcoin endeavor seems to be one massive manipulated cult come to think about it. However, the price can not be controlled for too long because there are too many players in the market and nobody has that much money.

I see us experiencing a gradual price increase into the Conference and then a massive post-conference pop to levels close to the all-time high or greater, driven by media attention and investor confidence.

Not true. They may just recognize how shallow this market is, and how easy it would be to push it in one direction or the other, given a modest amount (in USD) of Bitcoins, by market standards.

A price drop will not bring consolidation, quite the opposite. When the price becomes attractive enough, one big player will typically drop enough money to buy several thousand BTC at once.

And of course OP has it backwards. It was the large dumps of BTC that caused the market to drop, not the other way around.

Regrettably, while we know Edward50's tactics all too well (check previous posts) we don't really know his/her ulterior motives.