The people who believe one speculator is responsible for the ups and downs doesn't understand the cumulative effect of the bid-ask spread, or how markets work in general.
I'm still happy to take their money, though
Topic: Looks like the market manipulator is back. But for how long? - page 2. (Read 3581 times)
Calling "market manipulation" is like seeing water in the desert. It isn't there man, just lots of trades bunched in the order book. The only true massive sell event would be the goxian-crash. I doubt we have anything like that for the upside.
The people who believe one speculator is responsible for the ups and downs doesn't understand the cumulative effect of the bid-ask spread, or how markets work in general.
I'm still happy to take their money, though
The people who believe one speculator is responsible for the ups and downs doesn't understand the cumulative effect of the bid-ask spread, or how markets work in general.
I'm still happy to take their money, though
The weekend is coming and so is another price drop. I said before I suspect we will hit several plateaus on the way down to a new low. This time I think we will go below $6.
I also agree Bitcoin is currently overvalued. It needs to consolidate in the low single digits, the wealth needs to be redistributed so everyone currently holding Bitcoins is able to hold a sizeable portion of them, as the Bitcoin community infrastructure continues to develop and expand. Only then will Bitcoin's value be realised and we will see rallies unlike anything we have seen so far as we hit all new all-time highs.
I also agree Bitcoin is currently overvalued. It needs to consolidate in the low single digits, the wealth needs to be redistributed so everyone currently holding Bitcoins is able to hold a sizeable portion of them, as the Bitcoin community infrastructure continues to develop and expand. Only then will Bitcoin's value be realised and we will see rallies unlike anything we have seen so far as we hit all new all-time highs.
I think you are totally wrong.
The weekend is coming and so is another price drop. I said before I suspect we will hit several plateaus on the way down to a new low. This time I think we will go below $6.
I also agree Bitcoin is currently overvalued. It needs to consolidate in the low single digits, the wealth needs to be redistributed so everyone currently holding Bitcoins is able to hold a sizeable portion of them, as the Bitcoin community infrastructure continues to develop and expand. Only then will Bitcoin's value be realised and we will see rallies unlike anything we have seen so far as we hit all new all-time highs.
I also agree Bitcoin is currently overvalued. It needs to consolidate in the low single digits, the wealth needs to be redistributed so everyone currently holding Bitcoins is able to hold a sizeable portion of them, as the Bitcoin community infrastructure continues to develop and expand. Only then will Bitcoin's value be realised and we will see rallies unlike anything we have seen so far as we hit all new all-time highs.
Edward50, your observations of this player and his/her intentions are very poor/wrong. Price will eventually most likely go lower, but that has very little to do with this player. What you wrote is a fabrication of your imagination and your wishful thinking that bitcoin price should drop.
I'm in no way saying market will rally, I always said in my posts that I think bitcoin is a sub $10 product at its current use. But at this moment anything goes, a $300k buyer could show up just as likely as a $300k seller. Every time we get a quick pop from $7 to $12 on no news, chances are rally won't get far because nothing fundamentally changed in the game. Your sell signal is OK, everyone who bought bitcoins at sub $8.00 prior to this rally should be unloading at least 80% of the position, because right now it is more likely that in a week or a month market will again be trading at $8.00 or lower, but this does not make it a good short by any means.
I'm in no way saying market will rally, I always said in my posts that I think bitcoin is a sub $10 product at its current use. But at this moment anything goes, a $300k buyer could show up just as likely as a $300k seller. Every time we get a quick pop from $7 to $12 on no news, chances are rally won't get far because nothing fundamentally changed in the game. Your sell signal is OK, everyone who bought bitcoins at sub $8.00 prior to this rally should be unloading at least 80% of the position, because right now it is more likely that in a week or a month market will again be trading at $8.00 or lower, but this does not make it a good short by any means.
I have noticed when the price dropped down to $5 that days before it looked like a major player or like I call market manipulator has pulled out. It looks like the past few days that he has come back and is trying to prop up the market again. He tried to pump the market into new short term highs buy buying late at night, and then he seems to be trying to hold the market in the double digits a bit over $10 to try and set a new psychological level.
I also determined this buy watching the amount of Bid's on the market, which was very low when he was out, now it seems to be higher now that he is back in.
It looks like he is not getting the success he wants, and it is obvious that he does not understand that you can not push bitcoin higher unless you expect to buy many of the coins that are being mined. I think this will lose steam and he will pull out again, and the prices should plummet again.
My recommendation would be to sell into this. This manipulation was not able to push the prices any higher than $10 dollars long term. It is starting to lose steam and there are already signs of it cracking.
If only I could short the market right now...
I also determined this buy watching the amount of Bid's on the market, which was very low when he was out, now it seems to be higher now that he is back in.
It looks like he is not getting the success he wants, and it is obvious that he does not understand that you can not push bitcoin higher unless you expect to buy many of the coins that are being mined. I think this will lose steam and he will pull out again, and the prices should plummet again.
My recommendation would be to sell into this. This manipulation was not able to push the prices any higher than $10 dollars long term. It is starting to lose steam and there are already signs of it cracking.
If only I could short the market right now...
I took your recommendation and sold at $9.75. I hope I won't be disappointed by your advice.
I have noticed when the price dropped down to $5 that days before it looked like a major player or like I call market manipulator has pulled out. It looks like the past few days that he has come back and is trying to prop up the market again. He tried to pump the market into new short term highs buy buying late at night, and then he seems to be trying to hold the market in the double digits a bit over $10 to try and set a new psychological level.
I also determined this buy watching the amount of Bid's on the market, which was very low when he was out, now it seems to be higher now that he is back in.
It looks like he is not getting the success he wants, and it is obvious that he does not understand that you can not push bitcoin higher unless you expect to buy many of the coins that are being mined. I think this will lose steam and he will pull out again, and the prices should plummet again.
My recommendation would be to sell into this. This manipulation was not able to push the prices any higher than $10 dollars long term. It is starting to lose steam and there are already signs of it cracking.
If only I could short the market right now...
I also determined this buy watching the amount of Bid's on the market, which was very low when he was out, now it seems to be higher now that he is back in.
It looks like he is not getting the success he wants, and it is obvious that he does not understand that you can not push bitcoin higher unless you expect to buy many of the coins that are being mined. I think this will lose steam and he will pull out again, and the prices should plummet again.
My recommendation would be to sell into this. This manipulation was not able to push the prices any higher than $10 dollars long term. It is starting to lose steam and there are already signs of it cracking.
If only I could short the market right now...
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