There is much more money to be made on the down side.
Bullshit.
If Bitcoin goes to Zero, for every BTC I sell short, I make a max return of $350, which I wont be able to extract from the exchanges anyhow, cos they will have all went tits up.
If Bitcoin however, goes back up to test it's ATH, then I will have trebled my money.
such support where you wouldn't expect it, 4 hours ago the "bitcoin is about the crash" alarm rang (<255), everyone seems to be selling but bitcoin hasn't crashed.
All the exchanges look to have exhausted selling pressure....except for Stamp, where there is still some mother fucker dumping BTC Kilobombs, probably the same mother fucker who has been pulling the market around like a crack whore all week, erecting massive walls, and dumping into them. Stamp 15 Minutes chart suggest more downside. No leveraged trading and no shorting on Stamp, which is one of the reasons it is a market leader. If I were a whale, I would manipulate the market on Stamp, and play around on the others to help nudge momentum my way.
on the plus side (if you're an over precipitous twitchy bagholder like me), a nice low
W forming on the 1hr RSI, on Stamp. A bit of buying pressure (exiting shorts perhaps), should sent Bitcoin right back up, hopefully for good this time.
Regarding your point about more money on the upside than the downside. Surely that is the case for bitcoin bagholders, like us, and yes, we definitely want bitcoin prices to go up in order that we can benefit from the price rise.
On the other hand, for a market maker, manipulator, there is likely a considerable advantages to manipulate against trends and cause others to play into your hands in various ways.
And, if you want to get out of BTC, that should not be too difficult so long as you identify the time to get out before mos tof the other BTC bagholders.
My recent history, and reluctance to sell my BTC at a loss would likely signify that I would be hanging onto my BTC much longer than a lot of other folks.
Regarding the downward price pressure on stamp. It seems that sooner or later this whale or group of whales is going to have to run out of coins. It seems that there just are not enough others following suit in order to make the ongoing selling to cause any additional BTC price downfalls. Having a lot of difficulties getting others to follow and getting the price to go below $351.20. S/he / it does not seem to be giving up, yet, but at some point (hopefully soon) is going to run out of coins.
