Topic: The rocket is secretly taking off! High 3.26, 20k BTC to $3.50 (up from $3.35) (Read 6654 times)

only 20k of cheap, sub $4 $5 bitcoins left atm.

Can't be so complex, just short it if you like.

I'm short, but my position was taken at 6 USD, not at this levels. Some of my short position was bought back at 2.30-2.50 USD and I have started to build back that position at this levels. I think that the downside is bigger than the upside in 1-2 months time. I usually don't trade my position.

I will build it up even more at 3.80-4 USD if we go there.

+1

Also by having this rally, the one with the bad hand isn't the manipulator right now, now that has been taking over by the ones that are buying today at 3.40 USD and higher. They will be the biggest losers in this manipulation game.

Cool. So how much are you shorting right now?

This is what I wrote before (when it was stable at 3.20). Read it carefully. Exactly what I said happened, short term interest wanted the price at 3.50 and higher. I also said the "manipulator" wanted the price not much higher than 3.20 because they now understand the fundamentals, exactly that happened as well when they sold it down again to 3.20. My prediction now is that this was the last bull herd mentality up-tick, it will last maybe 2-3 days more maximum and then there will build up a panic for the down side, but the time frame for that is hard to know, probably within 1-2 months.

From before: "You are making the wrong assumption, this market is manipulated. This is how I see it, the price should be higher than 3.50 USD right now if everything was played as it normally is if you look at the order depth and knowing that it is very hard to get under 3 USD right now. Someone is building up this manipulation, I think they have bought a lot of bitcoins, they really don't want the price to go down, but at the same time they understand fundamentals so they are selling at 3.20 USD and over, by doing this and have a lot of buy order in the market, they are forcing this fake or manipulated stable behavior. At the same time they don't lose that much UDS or BTC, so they are playing the game of manipulating well (right now). The only way they can lose is if someone will sell massively in to this (fake) bid walls, then they will panic as always and the inflation and panic after that will make it worse. The thing is that we are at 3 USD and the downside is not that big. I think they have by doing this fundamentally put BTC around 1 dollar higher than it should be, but it is at a cost and right now we are printing 2,6 million BTC more until Dec 2012, so they will  probably lose (again) in the end. Time is on the downside."

Cool. How much are you shorting right now?

You guys are so wrong you can't even imagine how wrong you are. The downturn in Bitcoin price from June 2011 would have come no matter what, the inflation at that time was over 50 %, that is crazy numbers (knowing the price went up that fast), as I have said before, bulls and bears think as a herd. When things start to move up everyone wants to be in, when it goes down everyone panics at the same time. But from a fundamental point of view the inflation will put pressure on the price. This is more a short term thing.

Now we had a couple of this herd mentality actions on the up side. Next time it should be for the downside.

+1... goddamn scammers

I agree.

You know, I don't think the exchange rate would've ever gone below $10 if we hadn't had the bad news from several big bitcoin sites. That is, mtgox, mybitcoin and bitomat. The effect of those is clearly visible if you analyze the transaction sizes happening on the bitcoin network. Transactions moving 2000+ BTC vanished fast after mybitcoin and bitomat news broke out.

Not trying to be argumentative, but plenty of people haven't.

Ummm you're talking about a guy who used to define the word bull, sure he's been a bit down over the past few months but then again who hasn't  

Thanks all. Sell 'em if you got 'em.

The ask site is nearly flat after $4 

This will be fun to watch.

only 20k of cheap, sub $4 bitcoins left atm.

It begins... AGAIN! 

We seem to be climbing again!