Holy crap. Thousands of coins now being dumped...
I'm just waiting for someone to post a log graph dating back to mid 2010 to show we're still in a bull market today...
Topic: Market Doesn't Look to Hold Above $6,000 - page 3. (Read 8722 times)
I'm just waiting for someone to post a log graph dating back to mid 2010 to show we're still in a bull market today...
Holy crap. Thousands of coins now being dumped...
I'm just waiting for someone to post a log graph dating back to mid 2010 to show we're still in a bull market today...
Holy crap. Thousands of coins now being dumped...
Someone found that wall to be bitter. $5.40, and off we go again.
Someone just slammed 2500 coins into the 5.95 wall...
Funny enough I saw the 2500 coin trade pop up on mtgoxlive and the wall crumbling down.
However the volume never showed up on the market price. Very strange
And while I'm typing this, we're in free fall to
Someone just slammed 2500 coins into the 5.95 wall...
Lick lick, nibble nibble, that $5.95 wall is being tried and sampled, taste tested and masticated. Only a matter of time before it retreats to $5.75. Then we begin again.
Not to mention that not selling @ 5.80 will mean selling at an ever GREATER loss later on.
I don't think it is very likely that we'll go below 5.80. Why? Because it would mean selling at a loss for most people.
so in other words, you don't think it is very likely that most people would have to sell at a loss?
that happens all the time in all sorts of markets!
I asked tux what they did with those bitcoins that they earn. He said they don't trade them. He said they hold them and use them to buy things like that polish exchange.
Of course he said that. You think he'd tell the truth? Who's going to check it anyway, it's unregulated.
I believe we are testing a strong historical area of support. If it goes below 5.80 the market is in free fall to 3 and maybe even below that. From a technical standpoint we are clearly seeing a falling triangle formation.
I agree but I don't think it is very likely that we'll go below 5.80. Why? Because it would mean selling at a loss for most people.Those who bought their coins would have had to hold onto them for over 4 months now to not make a loss (back in May was the last time you could buy coins for less). That group is either very greedy (not selling at 32
) or very convinced of Bitcoin's long-term success and both groups will probably not sell now either.Those who mine their coins at current difficulty-levels and can still sell them at a profit below 5.80 are in a minority (most of the non-US world dropped out of mining quite a while ago). That leaves the speculating miners who hold on to their mined coins for over 1-2 months (back when difficulty was significantly lower).
So unless we have another panic I don't see the price just "drifting" much below 5.80.
of course it has gone down, I bought back in at $7.75. If I sell here you can expect it to go back over $8.
I've felt that! Well, at least your money is going to other crypto-techno-nerd manipulators, not wall street manipulators. 
I believe we are testing a strong historical area of support. If it goes below 5.80 the market is in free fall to 3 and maybe even below that. From a technical standpoint we are clearly seeing a falling triangle formation.
I have to agree with you here. if you draw an upward trendline you will see that we just broke the trendline in the past few days.
I believe we are testing a strong historical area of support. If it goes below 5.80 the market is in free fall to 3 and maybe even below that. From a technical standpoint we are clearly seeing a falling triangle formation.
Bitcoin, last 3 months.
Since the bubble burst in early June, Bitcoin behavior has been quite consistent - the price drops about $4 per month. There's volatility, but the 30 day moving average is a consistent downward line. The "crashes" and "rallies" are just noise in a thinly traded market. The overall trend is a long, slow slide, as I've been pointing out for a while now. After each bottom there's some recovery, but each bottom is lower than the previous one.
It's interesting that the decline is linear, not logarithmic. Now that we're down to $6, we can't go on losing $4 per month much longer, or the price would hit zero in late October.
I asked tux what they did with those bitcoins that they earn. He said they don't trade them. He said they hold them and use them to buy things like that polish exchange.
I know what you're talking about. I agree that lots of orders are put up with the intention that they'll influence behavior and not get executed, but there's risk involved in that strategy because sometimes they do. As I said, the recent 18k sell went through some very large orders.
There is zero risk involved if it is the exchange itself the one that is putting up those walls.
Personally I trhink they shouldn't be trading on their own exchange since they have a massive advantage over everyone else. They can see everyone's account and make profit on all trades.
It works for Wall Street banks where there are laws to put in place 'Chinese Walls' to prevent traders trading shares the bank itself is involved in. If people can get away with that in a regulated environment, then what about bitcoin exchanges where pretty much anything goes? It's not a risk free trade for the exchange as they could be left with a bunch of bitcoins and have to pay out a mass of orders in dollars, but as mentioned the exchange gets to see everyone's orders first and can act accordingly.
I know what you're talking about. I agree that lots of orders are put up with the intention that they'll influence behavior and not get executed, but there's risk involved in that strategy because sometimes they do. As I said, the recent 18k sell went through some very large orders.
There is zero risk involved if it is the exchange itself the one that is putting up those walls.
Personally I trhink they shouldn't be trading on their own exchange since they have a massive advantage over everyone else. They can see everyone's account and make profit on all trades.
I know what you're talking about. I agree that lots of orders are put up with the intention that they'll influence behavior and not get executed, but there's risk involved in that strategy because sometimes they do. As I said, the recent 18k sell went through some very large orders.
There is zero risk involved if it is the exchange itself the one that is putting up those walls.
some of you act as if you've never seen bitcoin hit $6 before. you must not have been around last month (august 6th to be exact). It only took two weeks before it was back up to $12 again. The manipulator knows what he's doing. Never doubt the manipulator. If you're selling low then he's playing you like a fiddle. If youre buying low then he's your friend.
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