All this manipulation talk is getting boring/old.
Have you guys consider for a split second that somebody might really want to sell those coins?
I'm confused, if this is a manipulation attempt, then, when the manipulator places his selling order, will you guys also say it's a manipulation move? Or is it a legitimate sell?
Also, all this work pushing the price up, then he, according you guys' manipulation theories, is able to sell at higher price. I hate to burst your bubbles, but if removes the wall there is no market depth to execute his selling orders at whatever prices he has been trying to push to.
Also, if you have more money than what is necessary to manipulate a market, then you can only go for peanuts anyway. Market manipulations usually have strategic/political goals behind. Sinking a small player, build or destroy confidence on an niche, media access, etc. Manipulating to capitalize doesn't really work, if you are the biggest player then you are the most affected by your manipulation.
Just my 2 cents.
That wall will either be consumed (even after a couple of moves) or the money will be thrown directly at executable prices driving the market up. I think the chances of it being just removed followed by a price drop, are low.
Can someone who knows more than me please answer this? Zenmario provides the most logical argument for this wall I have read today.
i agree with zenmario. 'market manipulation' is usually just large players performing their best action given market conditions. it's just as 'fair' as smaller sums attempting similar tricks on smaller scales.
You just don't put a $2M wall on a market so tiny as BTC. If you are really interested in buying $2M of BTC, you buy OTC to secure an exchange rate in order to avoid huge fluctuation, or you simply trade smaller amounts at different price points. Otherwise you are a crazy fool who burns his money. You are really implying there is a guy that was hoping to buy $2M in BTC at $100, then he saw price go up and he placed his $2M a 10% higher, then tomorrow he will probably place it a 20% higher... No way. And these are no smaller guys acting, there is a $2M wall that appeared suddenly on the order book (blockchained) and that moved from $100 to $110 pushing the price up.
There is really no way that a guy suddenly received his $2M at Gox on a Sunday and decided to place it's hugenbid $5 below spot to see if it gets filled... And all of this after a major crash.
Zenmario: you are serious about saying that is unlikely that the wall gets removed if the price goes down? Man, huge walls vanish into thin air every day as price approaches them, and this happens both on the bid and the ask side. Just check what happened before the weekend, only wall that resisted was at $80, all the others weren't eaten, 80% of them just vanished
