If the largest holders of bitcoins decided they wanted to stabilize the market, this is what it would look like. Coins quietly coming into the marketplace anytime the price looks to be rising significantly above $800. It's good for them, good for bitcoin, and bad for speculators. At some point their supply will dry up - then it's showtime!
I have been watching markets like a hawk in the past couple of weeks and I see it rather the other around. They aint fighting against upward buying pressure, it is the downward selling pressure that they are attempting and largely succeeding in standing in the way off.
Why would I want to keep the price at $800?
Say I have 1000 BTC, I'd want it earning daily, not sitting and collecting dust.
Say I had 100K BTC. I would prefer it to be earning daily whilst I sat on my fat arse doing fk all, but say I knew for sure that Bitcoin was already overinflated. Say I knew for sure that fresh capital simply wasn't coming into the market and say I knew that a stable Bitcoin was vital to Bitcoin related business ventures that I may have going which in the long run could prove infinitely more lucrative than any gains from sitting hoarding Bitcoins. In such a scenario, I would put everything I had into manipulating the market to hold within a stable range, moulding market to inhibit buyers being able to meet sellers (we seen a bot algorithm in action on Stamp and Gox doing just that earlier this evening), and using my own wealth to absorb any selling pressure.
I believe that these markets are being held up artificially high for purposes that may not be all that obvious or straightforward and certainly, In order to instigate the last crash, it took a 3000 BTC sale within about 5 minutes to ignite the market into freefall. I watched it happen. I would speculate that there might be some kind of 'whale war' going on right now in Bitcoin and this is totally dominating the price discovery action.
tinfoil hat time.
"
ooh, somebody actually thinks that there might be some kind of market action going on that isn't totally apparent for all to see, lets reach for the tin-foil hats"
GTF outta here u retarded mainstream clown.