Price just broke through weekly Bollinger Band

RyNinDaCleM

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Legen -wait for it- dary

Quote from: dancingnancy on June 16, 2012, 05:54:17 PM

Yeah, I agree about the limit orders, I was just thinking that the big players didn't want to give out too much information in the way of bitcoinica.

Up until a month or so before the (2nd) Bicoinica hack, Bitcoinica was a dark pool "bucket shop". No one knew what anyone else's position was, or how much was even on the books there.

Or maybe I'm misunderstanding the "giving out too much info" part. Undecided

dancingnancy

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Yeah, I agree about the limit orders, I was just thinking that the big players didn't want to give out too much information in the way of bitcoinica.

RyNinDaCleM

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Legen -wait for it- dary

Quote from: dancingnancy on June 16, 2012, 04:56:10 PM

Quote from: RyNinDaCleM on June 16, 2012, 04:07:51 PM

Quote from: proudhon on June 16, 2012, 02:08:35 PM

Quote from: RyNinDaCleM on June 16, 2012, 01:55:14 PM

Quote from: dancingnancy on June 16, 2012, 12:39:30 PM

Maybe this guy has another $250,000 where that came from?

Count on it! Wink

I've seen that strategy before. Put up a giant wall. Let it get sold into. Then buy into the asks and hope you can get the guy that sold to you to buy back in a panic and push the price up really high.

I just remember the $2.9, 50k wall. It was (at least mostly) sold through then another one popped up at $2.10 after we hit $1.99 and it followed the price back up 'till the $4's before disappearing for months. Then it made a comeback at $4.70. The guy has a LOT of money, so should not be surprising if it is seen again.

Do you guys think the biggest moves like these came from leverage (bitcoinica?) or just straight up cash?

My guess is that the biggest players never visited bitcoinica, but that is just my opinion.

I don't know that bitcoinica ever posted up limit orders on the Gox book. That said, I don't think that particular order was leveraged. However, I do think big players used bitcoinica though, why wouldn't they?

The drop to $1.99 was a bitcoinica incident, though it was due to mass forced liquidation of leveraged longs. Otherwise, we never would have seen such a price at the time. It was basically an over-correction from the $32 high. Without leveraged shorts, we probably would not have went lower than $3-5

dancingnancy

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Quote from: RyNinDaCleM on June 16, 2012, 04:07:51 PM

Quote from: proudhon on June 16, 2012, 02:08:35 PM

Quote from: RyNinDaCleM on June 16, 2012, 01:55:14 PM

Quote from: dancingnancy on June 16, 2012, 12:39:30 PM

Maybe this guy has another $250,000 where that came from?

Count on it! Wink

I've seen that strategy before. Put up a giant wall. Let it get sold into. Then buy into the asks and hope you can get the guy that sold to you to buy back in a panic and push the price up really high.

I just remember the $2.9, 50k wall. It was (at least mostly) sold through then another one popped up at $2.10 after we hit $1.99 and it followed the price back up 'till the $4's before disappearing for months. Then it made a comeback at $4.70. The guy has a LOT of money, so should not be surprising if it is seen again.

Do you guys think the biggest moves like these came from leverage (bitcoinica?) or just straight up cash?

My guess is that the biggest players never visited bitcoinica, but that is just my opinion.

RyNinDaCleM

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Activity: 2408

Merit: 1009

Legen -wait for it- dary

Quote from: proudhon on June 16, 2012, 02:08:35 PM

Quote from: RyNinDaCleM on June 16, 2012, 01:55:14 PM

Quote from: dancingnancy on June 16, 2012, 12:39:30 PM

Maybe this guy has another $250,000 where that came from?

Count on it! Wink

I've seen that strategy before. Put up a giant wall. Let it get sold into. Then buy into the asks and hope you can get the guy that sold to you to buy back in a panic and push the price up really high.

I just remember the $2.9, 50k wall. It was (at least mostly) sold through then another one popped up at $2.10 after we hit $1.99 and it followed the price back up 'till the $4's before disappearing for months. Then it made a comeback at $4.70. The guy has a LOT of money, so should not be surprising if it is seen again.

proudhon

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Quote from: RyNinDaCleM on June 16, 2012, 01:55:14 PM

Quote from: dancingnancy on June 16, 2012, 12:39:30 PM

Maybe this guy has another $250,000 where that came from?

Count on it! Wink

I've seen that strategy before. Put up a giant wall. Let it get sold into. Then buy into the asks and hope you can get the guy that sold to you to buy back in a panic and push the price up really high.

RyNinDaCleM

legendary

Activity: 2408

Merit: 1009

Legen -wait for it- dary

Quote from: dancingnancy on June 16, 2012, 12:39:30 PM

Maybe this guy has another $250,000 where that came from?

Count on it! Wink

dancingnancy

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Merit: 500

Quote from: molecular on June 16, 2012, 07:05:42 AM

Quote from: notme on June 15, 2012, 11:54:31 PM

Quote from: Sitarow on June 15, 2012, 11:51:08 PM

The trading floor has now become a challenge of wits.

I don't get it. What total noob just puts a buy-order like that ("oh yeah, right, here, buy bitcoins... 'enter order', hmm. how much to buy... let's go for 30,000 BTC for now. hmm, price? 6.50 sound reasonable, -click-, ok, weekend now, let's go home play with the kids").

If I was to buy $250000 worth of coinage, I'd be hanging out in #bitcoin-otc and/or trying to connect to some early adopters in the forum / on irc. Actually, I might oursource the buying to someone who can do it well.

Maybe this guy has another $250,000 where that came from?

molecular

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Quote from: notme on June 15, 2012, 11:54:31 PM

Quote from: Sitarow on June 15, 2012, 11:51:08 PM

The trading floor has now become a challenge of wits.

I don't get it. What total noob just puts a buy-order like that ("oh yeah, right, here, buy bitcoins... 'enter order', hmm. how much to buy... let's go for 30,000 BTC for now. hmm, price? 6.50 sound reasonable, -click-, ok, weekend now, let's go home play with the kids").

If I was to buy $250000 worth of coinage, I'd be hanging out in #bitcoin-otc and/or trying to connect to some early adopters in the forum / on irc. Actually, I might oursource the buying to someone who can do it well.

notme

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Quote from: Sitarow on June 15, 2012, 11:51:08 PM

The trading floor has now become a challenge of wits.

Sitarow

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Quote from: Spekulatius on June 15, 2012, 07:27:29 PM

Hang on! We are not there yet. This could also be silly jest from the Manipulator. Time will tell (and whether we break the infamous high of 7.35$).

Trouble is with this much movement in Bitcoin's value things become rather difficult to make fair market calls.

If this ends up being one of those too "the moon" events my suggestion is to hold onto a % of your BTC. The trading floor has now become a challenge of wits.

Spekulatius

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Hang on! We are not there yet. This could also be silly jest from the Manipulator. Time will tell (and whether we break the infamous high of 7.35$).

RaggedMonk

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Quote from: Spekulatius on June 15, 2012, 11:52:07 AM

What that means is:

IF volume rises with price over the next weeks
and
AS LONG AS price stays above or close to the upper Bollinger Band,

we can expect a major rally to 10$, 15$, maybe more!

Stay tuned and watch the news (because major horror news can always bring prices down!)

Sincerely,
( Y )

Not often that someone on the speculation forum actually predicts something Grin