i reckon the ddos might be linked to that failed attempt last night to push the price down, they lost about 15k coins with the sell off and walls eaten, maybe they're desperate for their coins back cheaply. Seems quite heavy attacks today.
now comes the big fake walls trying to push the price down in the lag, this is the time when i'd be happy for gox to stop trading, then the idiots doing this can't benefit
now comes the big fake walls trying to push the price down in the lag, this is the time when i'd be happy for gox to stop trading, then the idiots doing this can't benefit
I don't understand why someone would want to keep the price down. There's clearly someone or a group of people keeping it below $100. They slammed 4-5k coins into the rally yesterday that reached 98.5 pushing it down to 93-94. Then put up 25k worth of asks from 94-100. Those weren't old sells, half of them were from 94-98.5 that was just eaten. We know those were real because 5-6 hours later half the wall disappeared and someone dumped 11k of coins in 15 seconds into the bid wall trying to push it back. They put up ask walls trying to keep it down at 87.
That failed but they're still heavily protecting 95-100. I just don't really see why.
1) It's greatly decreasing volatility.
2) It's stabilizing the price
3) The longer it stays here the more people will actually believe this is a legitimate value for bitcoins (I'm not saying it is or isnt) Which does make it easier to rally it up (above $100) and rally it back up when it goes lower (then $90). Hard to believe someone is investing 2-3-4M to cement the physiological value of BTC.
Very little of that has to do with greed or making money at least short term. If they were greedy or wanted to make money they would have let the rally run to 110-120-130 then slammed the coins into it then and made a lot more money. It was clearly a goal to keep it under $100.
Can it really be some white knight of Bitcoin trying to stabilize the markets? The only big player who has the coins, has the money, who cares about the long term health of Bitcoin and the market, is MtGox.
Clearly someone is manipulating the market. And their goal isn't making money, at least in the short term. I just can't really figure the why or who part out. =)
interesting. I would hazard a guess that if it was non altruistic manipulation, short term money gain is nothing compared to a nice bit of market stability to rebuild confidence across the board... Let the media coverage and new retailers consolidate and legitamise bitcoins... so that it grows... but maybe, later, then they can do their dastardly deeds
