when you have a 4B marketcap with something that should have the same market cap of gold, you know that you get something like this, a manipulated market
every single one of these groups or entity that hold those 100k coins in the top rich list, can easily manipulate any exchange with their 250k volume in btc....
Topic: That is it. Bitcoin is totally unpredictable. This market is fake. - page 5. (Read 8688 times)
November 16, 2015, 10:10:03 AM
November 16, 2015, 09:47:17 AM
I learned important lessons about controlling impulse, exercising discipline, keeping emotions out the equation, and done some meticulous TA, and concluded that the market was far more likely to go down, than go up ..........
.............................................................................
............ I panic bought, at some $6 more than I orginally sold for, and witnessed the shit that was to follow. So now I am back in Bitcoin, at a higher price than which I exited the market (after having already taken horrendous losses on pump n dump), and totally against the momentum of the market, which I happened to have correctly read.
Hmm.....
Yes....but this was different. This was a clear break up from the consolidation formation. When this happens, 9/10 times it is followed by a significant upswing, so I had to act. Unfortunately, it was just some whale on Stamp who knew where all the Stop Buys where, robbing people blind, before he attempted to push the market down further....
....and now we have the 'epic battle of $320', where around 14K BTC worth of volume was traded on Stamp as ostensibly one whale kept dropping massive bombs into the Bid Wall, whilst another kept buying them up....or was it just one player? I suspect it was just one player, so what kind of statement is he now trying to make? Was that massive support combating the massive selling pressure meant to underline that at $320, the market stops falling?
It is awkwardly enjoyable to read about your recent trades and all this emotional clusterfuck. 
Unfortunately it is also very bad for my health, and my financial well being.
November 16, 2015, 09:37:20 AM
Ugh, you started trading again ?
who else do you think was behind the $2200 buy on gemini
November 16, 2015, 03:11:38 AM
Mat, you should consider writing a book about your bitcoin trading. It is awkwardly enjoyable to read about your recent trades and all this emotional clusterfuck.
November 16, 2015, 02:45:52 AM
I don;t think that bitcoin is a bad coin, it is a good innovation but the bad thing is that it is very much manipulated (so much pump and dumps)
November 16, 2015, 02:40:00 AM
I learned important lessons about controlling impulse, exercising discipline, keeping emotions out the equation, and done some meticulous TA, and concluded that the market was far more likely to go down, than go up ..........
.............................................................................
............ I panic bought, at some $6 more than I orginally sold for, and witnessed the shit that was to follow. So now I am back in Bitcoin, at a higher price than which I exited the market (after having already taken horrendous losses on pump n dump), and totally against the momentum of the market, which I happened to have correctly read.
Hmm.....
November 15, 2015, 11:15:09 PM
That's why from the very beginning most people are always stating that you should never, ever go all-in in bitcoin as it is NOT the same market in which you can apply all those TA aspects and strats to at least get a 'hint' of what's coming. The movements in this market are more manipulated rather than organic, that is what I observed in over a year of trading using bitcoins.
November 15, 2015, 10:47:40 PM
I hate to burst the speculation bubble of everyone on here but TA is pretty much as useful as astrology: you can draw fucking conclusion from the position of the sun, mars, and venus and predict the price to rise tomorrow, but guess what, you have no fucking clue. I know there's a lot of hardcore TA people on here, and yes sometimes it works, but nobody can have perfect TA.
^^^^^^Agree 100%. TA is completely nutty. FA is useful but I don't believe it can be applied to bitcoin for the reasons I gave above. November 15, 2015, 10:43:52 PM
I hate to burst the speculation bubble of everyone on here but TA is pretty much as useful as astrology: you can draw fucking conclusion from the position of the sun, mars, and venus and predict the price to rise tomorrow, but guess what, you have no fucking clue. I know there's a lot of hardcore TA people on here, and yes sometimes it works, but nobody can have perfect TA.
November 15, 2015, 10:41:57 PM
This Bullshit aint the work of an aggregate market.
This is just a few players with the power to defy all time learned principles of market mechanics, in order to deprive the maximum of unsuspecting punters of their USD and Bitcoins, but mostly USD.
This market is fucked.
This is just a few players with the power to defy all time learned principles of market mechanics, in order to deprive the maximum of unsuspecting punters of their USD and Bitcoins, but mostly USD.
This market is fucked.
This is also known as the Efficient Market Hypothesis.
November 15, 2015, 10:40:55 PM
OP, you sound rather conflicted. Is it whales splashing, or is it amenable to TA? Pick a thesis and stick. It can't be both.
one cannot rely on TA when there are motherfucking whales swimming around the exchangesExactly my point. It can't be both.
To return to OP's opening salvo... fake? WTF does 'fake market' mean? It's a market, whether you like the parameters or not. If you have proof of endemic front-running or similar, I could concur with fake. But 'unpredictable' != 'fake'.
November 15, 2015, 10:35:21 PM
Bitcoin isn't an investment. There. Done. Kind of.. 
It is to me. Keep your dogma to yourself, it is whatever people treat it as. November 15, 2015, 10:35:05 PM
Your logic is flawed. No real markets are predictable.
If Bitcoin price was predictable, then I would believe that the market was fake. The very fact that it is not predictable means that it is working efficiently.
If lots of people wake up one day and decide to buy Bitcoin, then the price goes up. If more people want to sell, it goes down. It's as simple as that. You can't predict what the masses will do at any given point in time.
Show me any market - stocks, bonds, commodities, etc. - that is predictable. None of them are.
If Bitcoin price was predictable, then I would believe that the market was fake. The very fact that it is not predictable means that it is working efficiently.
If lots of people wake up one day and decide to buy Bitcoin, then the price goes up. If more people want to sell, it goes down. It's as simple as that. You can't predict what the masses will do at any given point in time.
Show me any market - stocks, bonds, commodities, etc. - that is predictable. None of them are.
November 15, 2015, 07:32:17 PM
OP, you sound rather conflicted. Is it whales splashing, or is it amenable to TA? Pick a thesis and stick. It can't be both.
Both.
But one cannot rely on TA when there are motherfucking whales swimming around the exchanges, as they can turn everything on it's head at the click of a finger.....and it would be naive to assume that a good proportion of the market movers don't have perfect market knowledge, in terms of where all the other little fishies are placing their bets.
This is why I advise (especially for newbs) against stops and limit orders. This is likely how they shake people from their positions
November 15, 2015, 07:29:59 PM
This Bullshit aint the work of an aggregate market.
This is just a few players with the power to defy all time learned principles of market mechanics, in order to deprive the maximum of unsuspecting punters of their USD and Bitcoins, but mostly USD.
This market is fucked.
This is just a few players with the power to defy all time learned principles of market mechanics, in order to deprive the maximum of unsuspecting punters of their USD and Bitcoins, but mostly USD.
This market is fucked.
This is also known as the Efficient Market Hypothesis.
November 15, 2015, 07:28:10 PM
Bitcoin isn't an investment. There. Done. Kind of..
November 15, 2015, 07:24:51 PM
A fake market would be figuring out that a front running exchange has been lying about volume and price to get people into gold-rush mode.
Then faking a market crash so people would be anxious to get out. Then keeping the difference for yourself
Hey this sounds like MtGOX only they screwed up doing this
Then faking a market crash so people would be anxious to get out. Then keeping the difference for yourself
Hey this sounds like MtGOX only they screwed up doing this
November 15, 2015, 07:20:21 PM
OP, you sound rather conflicted. Is it whales splashing, or is it amenable to TA? Pick a thesis and stick. It can't be both.
one cannot rely on TA when there are motherfucking whales swimming around the exchangesExactly my point. It can't be both.
To return to OP's opening salvo... fake? WTF does 'fake market' mean? It's a market, whether you like the parameters or not. If you have proof of endemic front-running or similar, I could concur with fake. But 'unpredictable' != 'fake'.
November 15, 2015, 06:54:27 PM
Yeah, it never made any sense to me believing the fairy tale of technical analysis. Just because a figure may represent itself in the future given past performance, doesn't guarantee that it will. The big players can pump and dump at any second giving you a ridiculously long candle and you better hope is not red. Just buy and HOLD.
November 15, 2015, 06:50:43 PM
OP, you sound rather conflicted. Is it whales splashing, or is it amenable to TA? Pick a thesis and stick. It can't be both.
Both.
But one cannot rely on TA when there are motherfucking whales swimming around the exchanges, as they can turn everything on it's head at the click of a finger.....and it would be naive to assume that a good proportion of the market movers don't have perfect market knowledge, in terms of where all the other little fishies are placing their bets.
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