I do not see how it can work long term as miners keep selling. Already it seems the price is falling to these floors. The only reason this person is holding in so long is that there is nobody selling huge amounts of bitcoins into these bid walls.
This may be true, but at some point prices dropping due to this effect reach an equilibrium where it is no longer profitable for miners to mine and immediately liquidate. Guess what happens then? They stop selling.
When this last manipulator pulled out of the market, the price of bitcoins fell to $5 dollars. What made him pull out was some individual was selling huge amounts of bitcoins into his bid walls. So this person had to buy thousands of bitcoins, and his walls were being sold into by someone. Seems like this peson who sold into these bid walls is not doing it now, so this person is back trying to set a new floor on bitcoins.
Speculate much? (:
With a fake floor in place, miners should be selling their bitcoins into this because I can not see it holding for the long run.
Define a "fake" floor. Traders have put in bids at given prices. If someone were to go sell through these floors, the orders will execute. Seems like pretty real trading to me...