In what way is selling at the top of a 15% increase in less than a day "desperate" and "at whatever price"?

Seems like straight up profit taking to me.

Could even be the same people that started the rally. lol.

Well, I would be more confortable if he would have moved some coins, gradually. He never moved A SINGLE COIN according to the blockchain. Not even at the peak of 2011 bubble, not even at $200 BTC/USD.

Frankly, people sees this as "this guy really believes in BTC potential!", but sometimes that just makes me doubt of his sanity. If he never moved a single coin in all his life, he is very well capable of dumping them suddenly. That's how I see it, and many times I think that he will destroy what he created in that way.

And remember that nobody can wait forever to be filthy rich.

Hope it's just a nightmare tough

I saw that dump, and I can guarantee I was not the only one

Who did that... lol. Huge market order into hardly any ask depth

This just in: http://www.bloomberg.com/video/seeing-huge-increase-in-bitcoin-customers-karpeles-xsmrZuQxQ2CIkPQoeeDJsA.html

He is very difficult to understand - what accent does Karpeles have?  It is certainly not a Japanese accent.

Wall on 130$ looks so pathetic it will be eaten in 1 second.

I just feel more comfortable with fiat at the moment. If it goes up, I'll catch it up, I'll lose a bit but that's fine, just don't have a feeling the risk of staying behind is bigger than opposite.

It was so delicious to see that this pathetic wall at 138.50 was eaten tiwh one sell with over 1200btc

funny thing that dude just set this as ask right away (wall changes color from yellow to blue)

lol no. 100 will not be tested, not in 2 weeks not in 5 years.

120 support will reappear, once all you bulls are done being bearish  

Coming of ASICs means just one ... selling pressure. People invested a lot into ASIC hardware and they need to cover the costs. The question is if there's still enough buyers to keep the price at these levels after all the news bitcoin-mania ended. We are in the bear market now. The price may slowly go downwards throughout the whole 2013 like it did after 2011 crash.

You can see on the charts that the price was coiling up in a triangle like pattern that broke to the upside. Perhaps the market simply needed a test of that 100ish area.

Bitcoin didn't have hyped after the crash in summer 2012, it just humbly moved along and slowly rose. Lack of hype doesn't have to be the end of everything.

You have a strange notion of recovery 

so, single digits soon?

I Agree. And personally am one of them

We just went from $50 to $165. "there is no way" is famous last words predicting the Bitcoin market.

mega buy, back to 102.

Lol why the long faces.. Gizmoh, looking to buy cheap?

The odd thing for me is that this does not feel like panic selling ... just relentless selling pressure. Yesterday, when we broke below 120 we went into freefall ... this feels very different ... worryingly so
That's why i don't think we've seen the bottom yet ... no panic and not even that much volatility

I find it funny that merely 3 hours ago many folks were predicting the end of BTC, and that it would be at $60 by the end of the day

The old-hands around here must find the hair-trigger-panic pretty amusing as well.

You are not alone.
I was thinking whatever placing an ask at 10$ or not. Is a btc worth 10$? With all this shitstorm?
LOL.

Therre will be many bounces as well and I suspect there will be one off $72

I don't know ... that was a lovely bounce just now - if I had been on it ! But I guess if Billy Big Bat had not appeared on the scene we could equally well have dropped 10 points instead. Yeah .. it's fucking risky at the moment ...
Problem with day trading it is that you can't actually go short, so in a downward trending market you are relying solely on catching the bounces and being nimble. Yeah you can sell out and look to buy again, but that's not really going short. And as someone posted recently, going to bed with a position is very risky right now. That really skews the odds against day trading IMO.
I am ahead, but not by much, and it's been a rollercoaster ... one that I am beginning to tire of ... takes up so much time

2500 btc on 103

They seem to always be placed at .89, .90, .91, under round prices.
I don't think he's really buying. Some got partially sold into but they keep popping in and out.
Looks like a pump. Not sure why.

Exactly. I don't get it how they act like it's a party when the price drops. It's bad.
You can buy a few coins 20 bucks cheaper. Really, that's worth potentially killing the coin?
Don't you think you'll make more if we actually let this coin grow to 300 dollars and then slowly sell them if you're so desperate for money.
There is nothing good about seeing it crash over and over again. Really nothing.

+1, my thoughts exactly.

Nope nope nope nope nope. Not believing in it. Sold.

wow, this is a clear dump-and-pump-and-dump...

"I would argue very strongly that the rigid application of US financial reporting rules would bring [bitcoin] to a stop pretty quickly. And that is all the authorities really need to do. Volumes in Bitcoin are far too small for it to be worthwhile filing all the paperwork that could be demanded: so if it is demanded then financial institutions will simply stop handling any payments or transfers that have anything at all to do with Bitcoin. "

FUD or serious shit?

http://www.forbes.com/sites/timworstall/2013/05/07/now-this-really-could-make-a-dent-in-bitcoin/

Monster bid walls say hello

are they fake? orrr

12 hour exponentials about to cross

This is a STATEMENT from the US Government to Bitcoin.  My advice being a US citizen and knowing the reach of the USG...Sell NOW or forever hold your piece.  This is going to get worse as the news reaches mainstream media.  By then, it will be too late.  I'm taking my profit and I'll watch from the sidelines. I'll buy back when the dust settles.  Good luck to all.

Those are not coins rushing to exchanges...  

The impulse downwards paused when it reached the illustrated support trendline, thus adding evidence for the support trendline's existence.

The interesting question is whether the strength of this downdraft will be renewed soon and bust down through the support. Trading sentiment will become more bearish if it does.

These dips don't even bother me anymore. Blips on the radar in a few years.

It's illogical Captain ... I am told not to expect something that is imminent ... but I was just told it was imminent  <scratches head>

Whoa, when did we hit $103?

Woke up from a nap and I'm like...huh??    Shouldn't we be sub 100 right now??  Is someone just pumping this up to dump it in a few?? 

/scratches head

Yesterday was just a precursor. The real panic selling has yet to begin.

I have no problem interpreting chartbuddy, it gives me the moving spot-price snapshot.

Let's focus on the real issue. People like posting walls, and chart buddy makes them redundant. Look at this page, most of the posts are from chartbuddy. It has a negative effect on the overall quality of the tread because it derails discussion and we end up focusing on dumb stuff. This is fine, but I think everything would be better if we went back to a human dominated wall observer.

Everyone could ignore it, but it doesn't honestly solve the problem of making people redundant. There should really be two threads, but chartbuddy would keep itself on the front page permanently, opening the floodgates for behavior like that.

To return this thread to normal, and avoid robot invasion I suggest that the issue be put to a vote.

EDIT: vote here.  https://bitcointalk.org/index.php?topic=209890.0

Who are you and what happened to Coinseeker? Seriously, did you go to FUD rehabilitation or what?
Welcome, whoever you are  

And how many people had money sitting on LR. Seems like a fairly big deal. Without Dwolla, I'd imagine LR was a fairly big chunk of Gox deposits. Surprised no one is talking about this, they were down all day Friday. Maybe not that many people used LR.

We will.

Valid point, but in my opinion it is a tad naive to just believe that without a bit of skpeticism. I for one want to be more cautious than that. Gold has been used as a store of value and as a currency thousands of years. Today it lost its utility as a currency for the most part, but it's still a rock solid value store because it's so well established and has an undeniable proof of reliability in price storage.

Ancient physical coins were made of valuable metals, gold being the most prominent. To this day, the value of physical coins is, at least by principle, tied to the value of the material they are made of.
Gold might be mostly a value store today, but t has been a very active currency in the past.

Transactions of small amounts are penalized with bitcoins, set a low reward value on your client and it will take forever to get a  decent number of confirmations. This wasn't even discussed pre lates bubble, and even today it is somewhat a taboo. So we are left with medium to large value transactions, and to be optimistic we say that bitcoins is more like gold. In other words, we fast forward the utility part of a currency and jump in directly to the value store stage.
I'm skeptical about this. Would I see adoption by average joe, I would be much more sure about bitcoin's success.

Who when to bet if we going back to 132 this 5k wall disappears..

Are you sure?  I thought I saw the 7k $126 wall get completely eaten away, including a tiny chunk of it by me

Supposing that the big sale was a shock and not a trend reversal, I expect that a triangle consolidation pattern will unfold on the hourly chart, perhaps with the apex at  $125.

Yep, after that... this could potentially take us back all the way to test $50 again, maybe even $40. It would be the buying opportunity of the lifetime if we climb again after that, but this could take many months, and it is only a buying opportunity if it doesn't break lower then that of course. Confidence will be smashed for a good long time if we start dropping to that range. Arrggg I hate this, I would have much rather things just continued up.

Yeah something along those lines I think. My theory is that the wall was actually the seller. The Wallmaker simply wanted to sell as many coins close to 130 as possible. He knew the treadline had already been basically broken a day or two ago, he could have helped it with his super money if he had the confidence the market would follow him, but he didn't. Thus he created the large bid wall to create a false sense of security so bids would pile up above his wall and he slowly sold. When the time was right he could just do one massive sell down to his wall, remove his wall, sell even more and then let the games begin. May have even sold into his own wall to create fear.

This was my theory the moment that wall was created. I really, really wanted it to be wrong. I think I might have been right on it though. =(

Wrong, a sell off down to $50 assuming it held would make a triple bottom and would form a good basis for going up from there.

If only it wouldn't go up so fast.

Remember the price was $50 only a few weeks ago.

Spot the difference in the situations.

lols 100 coins till 120 , and 900 till 129 , this look entertaining

LOL, it kind of looks like a hand with a outstretched finger pointing up.

Up, Up, Up ?

Where do you see a big guy? 

Maybe a very interesting Monday. 

Or how the clever little bears will react when they wake up and see it around 125.

Those big sellers haven't bought back in yet. I wonder if they've not finished selling, and they're waiting for your prediction to come true before mega-dumping again, or that they have finished selling and they're anticipating some further downtrend before buying back in again. Or, they're really cashing out, and there are more like them to follow for similar reasons (fincen vs illegitimate business etc). Either way, I'd expect us to be testing 115 again within a week or two.

Gox shitting a brick right now? 

Maybe MtGox actually belongs to the US government and is really a part of their fiendish plan to destabilise cryptocurrencies and make them seem like a bad investment

and it's gone

You know, what confuses me about this drop, is it doesn't appear to be triggered by anything.  I've been a firm believer that we would retest our lows in the 60-80 range at some point, but I always assumed it be triggered by some major news event. How sick would it be if this was the ultimate bear trap.  Shake all the weak hands and run it up to 500.   

The case for a trend reversal

Everyone is a bear now, who is left to sell?

100 is an important psychological barrier, it could be the point where the trend reverses

Whales will buy back when they give up hope of seeing double digits, once buying pressure starts to build up it will be the signal they need to buy back in which will bring in more whales

Trend of higher lows since the crash: 50 - 79 - 98 - 103 - 105?

Ofcourse. What could better than Bitcoin going down! I can't think of anything.

If it's the same guy who dumps every sunday i don't see him buying anything back. He's getting out and depending on how many coins he has this could go on for a while.
You could think he does it on sunday morning to cause as little panic as possible.
If he was after a price drop to buy back more i'm pretty sure he would do it differently.

when you don't have coins anymore to push the price down you need to reload...

Market Dept on Magic of the Gathering Xchange is looking MUCH MUCH BETTER. I am no longer worried about a continued down turn here.
The buys have really picked up and are actually matching sells within +- $5 at this range. Showing some support.
All the things that the bitcoinchannel.com goes over I just checked and it's looking pretty good. Glad I didn't sell any today. Brother Rampion had me worried  
But I am still watching closely!!!

Also, we are sitting right no our 100ema.

apparently manipulators want the price to keep high for a wile..  
the drop will be massive. ..
we might hit real bottom this time  
there's not enough bying power yet to turn trend imho.

been watching orderbook .. the real buy power isnt there yet..  but it's definately bigger as last weeks..  

even when i'm having a little loss..  i rather have moving volumes then boring trading as last weeks..  so i can correct my mistakes

But the bids are turning around. Are you talking about as we moved down? Well, those bids always disappear on the way down.  
Seriously, the market depth is looking much much better. Yes it can be manipulated though.

My feeling and thoughts are that we don't drop below 100 anytime soon. I know I might be wrong, just please don't taunt me and I won't taunt you (much) if we stay above 100.
Of course if the volume dries up and we start that sideways movement again, I will become careful. Should have sold a small position at 130 to be safe...

If the stock remains right around $105-$106 why would you expect a drop?

Nope. Mr. Manip only strikes twice in a row. The third time would be otherwise too easily predictable

I expect next wash-rinse-repeat cycle from him in no less than 6 weeks - like when the memories of his distinctive pattern will have faded enough. 

Seems like there has been a raid, and $7.5 million frozen from webmoney (or more precisely, their "guarantor" in Ukraine) today:

http://rapsinews.com/news/20130613/267751619.html
http://www.ukrinform.ua/eng/news/webmoney_funds_blocked_by_revenue_authorities_305119
http://un.ua/eng/article/454477.html

Wonder if there will be any escalation here or if this is a minor issue?

Either way, all these asset seizures are nothing but bullish news for bitcoin.

The true bear indicator  is rpietila selling off some bitcoins.

Exactly. They ARE running up their purchases by doing this. If they wanted to acquire 1000 coins, it'd be better to split the order. By posting a bid for 1000btc, lots of smaller orders are bidding up the price in anticipation of the whale's purchase and sellers are less likely to move asks down. As it stands, it's the same tactic used three weeks ago to headfake bulls before "the dumper" came to play. If it is indeed the same buyers as earlier today, all they are doing is pumping up the price a little higher (maybe into their own asks), thus making it easier to take profits on their recent acquisition.

wallzila on 104.5 are we rly going up?? 

I have a really hard time believing that wall at 108.50 is real. I fully expect it to be the tactic wherein the wall owner sells BTC to the buys in front of it, pulls it when momentum drops, and then dumps.

Who wants to sell at 108 when people just demonstrated they were willing to pay 113?

good luck!

Dropped it to 107. Game on

Why are people dumping?? Why??

what i think is happening.;   big guy .. slowly bying up with 1k(ish) buys..     people think .. oh trend is changing..   lets buy..

big guy has  put good bidvolume ..

now big guy bought high ....  he knows price will not go much deeper then 80 ish ... so must atack from a higher price ..

big guy removes bidvolume..

dump enough coins to start panic selloff ..  

we all think its cup and handle pattern right?    well maybe this can be true for the big player to even have the ability  to sell at even higher price..

i'm still full fiat..   got bot ready to profit when we might have some shortterm up rally..
but looking at full orderbook , + asci miners having a lot of coins to sell lately...   i'm not feeling it uptrending already..
although TA indicators are pretty good looking to me for some up trend..

this market is manipulated too much  .. i'd say 1 more time bottom to start trend reversal or stability and slowly growing to the next bubble in januari

It's worse than I initially thought - USD withdrawals suspended for 2 weeks !

https://mtgox.com/press_release_20130620.html

so, $180 in 7 business days?

You know the saying "buy the rumor, sell the news"?  

I wonder how many of the sellers are sleeping..and will they re-buy? or pull their ask?

i'm sitting on gox with fiat for ages now.. why would 2 weeks make any difference?
maybe sell a bit .. to pay bills on other exchanges sure..    

Doing the opposite is easy money.  7% instant increase on whatever you invest.  Buying into the panic has never been so profitable.

Move more over and sell and take a short position then.  Afterall, it's weekend again, and the native Sunday dumper may re-appear this week.

5 and 20BTC buys with 1.5$ slippage, seems like people desperately want to keep the price high

Pretty much. I'm now even more certain of a bear market. Thinking about it, there are two scenarios:

1) MtGox is insolvent, and a LOT of fiat money goes down the drain along with a lot of Bitcoins. Faith in the Bitcoin market is shattered, no big fish will be buying at exchanges again for years until an established player decides to deal with it, if ever. Price collapses.

2) MtGox is solvent, and a lot of fiat money flows out of MtGox once it is possible again. Some of the coins flow to Bitstamp. People realize they bought based upon nothing, and sell for the same reason. Price collapses.

<MagicalTux> we will continue processing withdrawals next week, but limit to 1 million USD per day

Congrats to everyone who took a ~10% loss betting against MtGox's solvency.

Price discrepancy of ~10% on MtGox vs. Bitstamp would vanish. Some are buying on MtGox and withdrawing Bitcoin because they are panicking over their solvency. Once it becomes clear they aren't insolvent, that would change as those people move back to USD.

Because that's the limit imposed by their bank maybe?

For once I liked the Gox statement. It looked almost professional, that's some good news

That's nonsense as you can wire Euros to the US as well.

Some information to bring more light in the dark:

During the last month I made 4 withdrawals (wire) to my account (Switzerland). Also done before without issues. All 4 amounts went through and were credited on my account as usual, about two weeks ago. Therefore I was appreciating the service provided by Mt. Gox.

Yesterday I got a phone call from my local bank, stating that they didn`t get the clearance from the correspondent banks reagarding the $$ transfer. The money went back to Mt. Gox. So these amounts could not be credited any longer and got cancelled.

It seems to be an issue of the international banks involved, below the original text from my bank, saying that the 4 amounts are returned from Citibank to JP Morgan Chase (Mt. Gox) due to internal guidelines. They are waiting for my instructions in which way Mt. Gox will send the money again.


The infos I got from Gox support:


The same day, some hours later, Gox "Statement Regarding Temporary Hiatus on U.S. Dollar Withdrawals" followed. Consistent as far as only $$ transfers are affected.

Looking like big US players are blocking $$ transfer. We are not really surprised, aren`t we ? Hope Mt. Gox will find solutions to circumvent the hiatus. It would be interesting what Citibanks "internal guidelines" are stating.

Ripple will either end with a whimper, as people realize what a bad idea it is, or with a bang, as people find out what a bad idea it is.

Even with all the uncertainty around MtGox, the Bitcoins are returning and it's getting clearer and clearer that it's not worth 100.

Time to sell.

Also, the daily BB width is the lowest it's been since $30 or so. A massive impulsive moves is before us, and it's most probably down.

So someone wants to unload huge coinage and is propping up buy side to pick off anything offered above his fake walls? Since gox has usd delays he can bleed it out slowly over two weeks. I've been scratching my head at this market for days now and can only come up with this.

it looks like we could bounce (at least temporarily)

Pump & dump on FinCEN news?

Oh dear, someone just established 100 as a resistance by buying to 100.44 and having it fall.

Goodbye, triple digits. See you next year(s).

There are about 60,000 coins available under the 100 day moving average. That amounts to only 0.5% of the outstanding coins.

Shit,

I had my buy order at $88.68. The low was at 88.75. I missed the price by $0.07

 

But 88 held once again. I expect to see this price for 2 days until MTGox opens their mouths again. Then we will see what happens

The last few weeks have a name...  Bull trap!

Different question. Where are the sellers now? Sell side looking thin and $72 the low for a while. Are those bulls with orders in the 60s going to sit back as it retraces to $100?

This is it bulls.  Moment of truth.  Are we going to 50 or back to 100?  Let's see who wants it the most.

I was watching. 3k wall bought. Including 200 wall supports.

Incredible bull support.

I bet there will be fireworks.  Lots of fireworks.  And parades.

offtopic: http://kipochi.com/

[On Bitstamp]

An update on my position. I should have bought in the high 80s as was my original plan, but held out hoping to regain the loss, which was foolish! We hit about 89 and then plunged into the 70s, so it would have been a good strategy. I made a loss there - that's twice I should have stuck to my original plan over the last couple of weeks! Still, you have to cut losses and move on to the next trade!

I recently bought in at 78, being unconvinced by the rally. A head and shoulders then appeared to be form and has now largely completed with a fall back to low 70s. As I think we're still in a downward trend, I suspect 70 won't hold and I pulled by 71 buy position (half my trading fund).

I'm now sitting on the side and waiting to see how things pan out over the next few days. I'm still tempted to try a trade at 71, as there seems to be substantial support. However, I doubt there would be much of a bounce and as the head and shoulders pattern has just completed and I suspect enthusiasm for another rally may be low.

that's a pretty steep wall not to bounce off of...

edit:, though yes, I'd guess not to high 70s from 71, but at least mids

Yeah allot of dropping without bouncing earlier, so hard to judge it. It's looking more bouncy today though. temptation is leading me to risk a small amount on this one

ya think the selling is over yet?

should i buy?

those "suckers" are the ones with guts. You can't win every round, but hey- like you said, you don't have the guts to expose your fiat, thus you also can't really ever 'win'. :-)

See that's the thing. $1500 isn't profit. BTC is profit. Any fool can make $ in this market, but to increase your share of the limited supply of bitcoin is what will really matter in the end.

Just curious: why don't folk reveal the position of their bids in advance, if this thread has no impact on the price?  

I want to hear about the BTC profits you make, fiat is only a temporary means to acquire more of the true asset. If you end up left behind in the coming rallies your fiat profit will leave a bitter taste in your mouth.

My average buyin was at around 84, if this ship is going down, I will risk drowning and have some smallish bids left at mid 50s. If we end up below 35.. hell.. I'd mobilize quality money for that.

It's the first time for me to admit that we are in a downtrend right now, but I'm a bull in denial and don't want to miss the train. And there are other ways to counter falling USD/BTC like BtcTc and others.

My feeling tells me this isn't over yet. There is way too much optimism left and too less tears for a full blown trend reversal. Volume isn't that huge also. Mid 50 is major psychological mark for many and I expect quite a bumpy ride, but the slower we arrive there, the less explosive power there will remain.

Most of the price rush from end of march on was driven by a huge hype etc.. if we would substract all that, it's around 50 again. I'm too new to know, but I would really like to know about the rise from 10-15 till 50. Furthermore I would love to know how much the fundamentals have changed since then in relation to the time before. From my perspective there were many great news, but as mentioned before, I'm too new to know, if it was like that since always - with new investors, media coverage, better infrastructure, rising awareness, more acceptance and so on.. but anyway, it happened and will have a positive impact on Bitcoin's value.

Those are my reasons to call 50 and 30-35 as worst worst worst case.

Why is there all this selling going on in Bitstamp, its a lower price than gox anyway, its killing me.

this.

And the fact that even a stubborn perma-bull like me recognizes the possibility of another massive drop down to 50 or even below might be seen as an indication that the bottom is in soon.

It's usually the bottom when I stupidly sell coins in panic. We're not quite there yet, but I'm starting to not feel so well any more and I'll probably panic below 50 (hopefully I'll be far from a computer at that point).

On the other hand I'm starting to feel greed boil up that wants to throw more fiat at the thing before the train leaves again...

Interesting times in any case.

is there ANY reason why coins today should be worth 20-30% more than yesterday? I don't see any. 

None of the whales want the price to go back to $90-100 yet. There is way, way, way too much money to take from people who will give up their coins when first $60 doesn't hold, and then $50 doesn't hold, and then $40 and $30 are realities.

But in order to do that, you can't just dump from $92-98. You have to depress the market over a longer timeframe in order to encourage a real demoralization of people's hopes for the future. If you don't demoralize people, there won't be fear, and there won't be capitulation.

Besides, if you can short, you can make a ridiculous fortune on the way down too.

That's why there are bull traps on the way down. If it weren't that way, those bull traps would be bear traps. There is _plenty_ of fiat sitting on Gox waiting for a good time to buy. After all, when $100-110-120-130 were the perpetual price point, whoever managed to buy at $80-85 on the last big sell off made themselves a fortune. So why aren't the market buys coming down, especially when you can pick up 10k BTC for less than one mega?

In my view, that makes the direction we're headed in remarkably clear.

then how do you explain buy orders that are piling up right now. There is coming to be big battle with big volume i think and that could trigger change of sentiment

Coins in the ask wall going down ,are thay going lower or buy ?

they are counting on that me thinks.

If no walls get pulled - 10,000 BTC gets us up to 107 ish, or down to 86. What a disparity...

9k of new bids in 80. Looks like our friendly whale is still loaded.

I've got a sick feeling in my tummy.  

The price action in the last few hours indicates that $108 is in the gun-sights. There is no real enthusiasm for a full retreat after the foray to $104.

Reverse Head and Shoulders that broke the neckline. Looks like we can expect yet another bubble.

There was just another crazy market order with heavy slippage.

What are they doing?!

Shit.

Shit shit shit.

Shit shit shit shit shit.

An alternate count in my waves is making me very much less certain of a drop.

 

Is it your arbitrary opinion?

i cant log in. apparently there were too many attempts to log in from my ip address???

Would you sell?

And now even buying BTCs might not be a way to get out of MtGox. 

https://bitcointalk.org/index.php?topic=264300.0

1 BTC says its an epic fail. I only skimmed the white paper, but the paper plus the content of dacoinminster posts imply to me this is not an idea ready for release...

We're about to enter a (short-term, at least, but tradeable IMO) trend reversal, downwards, judging by what I look at. Still avoidable though if price picks up, to 104, 105 maybe.

Interestingly, mtg and bit are decoupled to a degree right now, with bit looking slightly more positive. The two exchanges are still strongly linked of course, but I noticed that there's at least some instances in the past 2 months were bit actually lead mtg. Not the norm though, usually still the other way round.

how glad am i there was enough wall left after the original dump into $104 for me to sell all i had there. The big dumper left about 950 coins there and i managed to unload everything at $104

War of the Competing Walls, finally also on bitstamp.

Can't we combine the two discussions somehow? Doesn't make much sense IMO to have two threads to do live discussions of trades & walls, when they really need to be looked at together.

Update on Local JP Bank account withdrawal.   Going into day 7 with no money in sight.  Day 3 with no reply from support as to what there average withdrawal in Japan has gone up to, and no response from their "Banking" department on when the money is expected to transfer.   My transfer before this one was 1 business day.  So something has changed.

Just had a semi heart attack. Was logged in on my btc-e account and my btc balance suddenly appeared as 0, as if someone had hacked in and withdrawn my btc. Logged back in and it showed up. Frightening moment, especially because that site is shady as hell, but the only choice to trade LTC at a decent volume :p

"Red Bull pattern".
Will be confirmed when the second horn is drawn.

Who is that Bernanke guy?

Treasury notes down, silver up.

And bitcoin?

In bitcoin (and virtually every speculative market) low volume with stagnant or slowly rising price almost always means heavy manipulation. Breakout? Depends on what the whales are plotting.

Finally a show.

Not much to watch yet, but I feel something in the echo chamber.

It looked like the exact same order sizes and types of orders outbidding eachother in the same way both on the way up and on the way down. 4 orders about 1000K 950K 950K and 700K agressively outbidding eachother in .1ish increments. The bots are malfunctioning again, or maybe gox is testing midas in production?  The same thing happened on June 24. Some bots kept trading up and down between 100 and 110, producing about 100K volume with no effect on the price in the end.  This is just more proof that mtgox numbers are and always have been cooked up by bots and not actual demand for bitcoin. Its not millions of coins that have been bought and are now held at a higher price basis -  its just the same coins switching hands over and over.

Today's volume = lame.

I haz USD everywhere. I'm rich, biotch 

Price will increase until we hit 40k ask sum on Gox (currently around 50k). Then we stagnate for a bit, probably followed by slow decline. Small possibility of a mini rocket to 180-200ish if we go under 40k. Turbo crash if we touch 20k.

This becomes more a myth as time goes on as we have seen $20million in volume last month. So either millionares are just parking USD @ gox for fun or they CAN get money out.

Feather coin is the future of crypto-currency, come take your place in your community!

http://feathercoin.com/

 

just send a few of BTC (only what you can afford to lose...)https://btc-e.com/ and trade it 5k FTC!

2600 BTC on Gox to set new low at 147$ --> next stop 140$
1800 BTC on Gox to 160$ to recover 100%

Massive manipulation going on right now, some people desperately trying to prop the price up..

Might hold.

What do you mean? That there are no walls there? Now that $150 is gone its no depth rise.

I LOL at the dummies who buy after $144 and $150 fall. Herpaderp, lets pay $5 more than we would have if we bought in to that obviously falling wall..

Maybe time has already come for another bubble?

I think we finally hit the "$167 resistance" but at $177 because gox is inflated due to its insolvency. The number to look for was... $161 on bitstamp.

There is fucking NOTHING after 180.

it will craaaaaaaaaaaaaaaassssssssssssshhhhhhhhhhh

"no doubt". LOL No doubt it will craaaaaaaaaaaaassssssssssssssssshhhhhhhhhhhhh

All of the sudden 10k on ask side till $200.

 

The last time I saw this was @ ~250, I was sitting there on my computer and thought, that doesn't look right, someone is trying to hold up the market.  If Gox was still the market leader, I would think this would be a good time to sell, unfortunately you have to take their order book with a grain of salt now.

Lately all the action has been happening in the middle of the night 

rocket launch failure
abort all operations

im glad i have been all in for a while, but boy am i getting worried that this will reverse soon!

All of the alts in the top 10 marketcap are taking a dive. http://coinmarketcap.com/

Does this typically precede a correction?

Volume is high, Gox is making a good money. Difference with stamp is 6.6%. Is it becoming solvent again?

Zero trade fees in china is fueling this pump/fake-rally.

Will the fact that everyone wants cheap coins prevent the price from tanking too far?

First of all, that wasn't 1 person and if it was they are idiots.

You dont dump 10-15k BTC at market all at once. You could spend a couple of hours at least doing smaller trades and save yourself $10,000s.

So unless someone wants to burn money they dont dump like that at market. Of course, I think there are probably some pretty stupid BTC owners.

Gox of all places is leading...

who wants Gox Bux i don't get it....

Waiting to fall back to the 150.. 190 channel...

Man, you bears really aren't what you used to be.  If this was the great breakdown ward you were all hoping for then...man...I just don't know what to tell yous.

And turns out yesterday was actually bigger than post silk road.
We might be going down/sidways over the next few days... but next week will be ridiculous.

Some whale(s) is/are just trying to get more coins, but soon they realize it's no longer possible at these prices. Maybe in $300, $500 or $1000 they have better chance...

So you expect selling to equal the anticipated new money?

I didn't see much whale buys during this rally btw, this was different in april if i remember right. Or am i wrong?

Too late, I already did so. Sorry guys...

Well, Europe is awake and waiting out....

not-so-secret rockets, 2nd stage blastoff

Cheers I tried the multiple tabs method but was getting strange behaviour.. however that could have been in my head and i'll give it another go.

They forgot to DDoS bitcoinwisdom.

Didn't you talk about a bear market a week ago and calling the bottom of it?

It's become very quiet all of a sudden... A dump is in the works?

I've seen 2 transactions >8k btc each about half an hour ago. Where will they go?

Stamp rearing up to go. Gox too by the looks of it.

Last chance to buy 10,000 BTC without slippage below $300.

I've been getting burned several times with the lag and downtime of stamp... i've lost btc now.. as much as i was gushing about bitstamp's fees it seems its really only for cashing out and i should move back to gox to trade.  irritating.

Bought big today.

Whats up with Bitstamp? They seem scared to follow gox into the breech?

I think I can already hear voices in my head.

A correction is on the way, the 4th sub-sub-sub-wave of the second sub-sub-wave of the strongest sub-wave of wave 5.
There are now 16.5k coins on the ask side, but most waiting to be sold at higher prices.

who run out of what now?  

lol  

Live with coins that are expensive. But history so far has proven it is only temporary, and you still got them at a bargain.

My stuck coins that finally showed up from MtGox are now on Bitstamp. Thanks to the delay, I have made a handsome profit on those few. Now I have my original $ and some extra coins.

Edit:

Where is this stability around 280-300 we heard about? 328 already.

I guess we have the flash-crash to 250 to look forward too.

{"result":"success","return":{"lag":1697178900192,"lag_secs":1697178.900192,"lag_text":"19 days 15 hours 26 minutes","length":"81"}}

Them... FBI can already sell?

btcchina shows tanking pattern?

Went from 348 -> 300 in stamp so i sold 1/6 of my coins in first rebound at 330. I had 100% of all my wealth in coins (i don't have any loan). Lets see what happens next.

I know right?

we should have been over 400 by now, bitcoin sux

bears come from the cave right when the price starts to fall =D cheap coins buy them, this rally is not end yet, just a major correction.

theres double bottom at making in stamp

Bottom at 267 is pretty high...

Are you saying that's it? Capitulation done?

I don't know why, until now it's 100% accurate

Doesn't volume seem quite low post correction build up of price upto ~ 380 ?

my wife says " your money is my money " 

there shall be a bloodbath

What ARE you talking about?

Even though bitcoin is amazing, you can't honestly expect 10% increase in value every 10 mins.

Like April? WHAT? In April the price hit $266 and immediately started tanking, lag went crazy and caused more fear and lag selling. The price dropped to like 70 in 3 hours. We've been at $400-$440 for over 24 hours now. Nothing like April.

It is the speculation thread, but I suspect China will follow Stamp and Gox in a massive selloff.  They have more weak hands than anybody at the moment, because they represent the most new money.  Should the bearish signals prove to be true of course.

The great firewall isn't that great. Easily bypassed with the right tools. And the folks that are investing heavily in BTC from China likely know those tools and their way around TGF.

I've personally gone around TGF on many occasions.

Hourly indicator is going down. If theres another drop the next one will not be pretty.

This is your last chance.

I cannot wait till the first 5k+ ask pops up on an exchange.

Finally a decent wall, 1k @ 507

I think the total bid depth on Gox is more surprising than the price.  Why is so much money flowing into Gox?  Not only are coin prices significantly higher on Gox, but it's practically impossible to get money back out.  I really don't get it.

The crash from the eventual high is going to be epic.

bitstamp: "13 minutes   " since last trade..?

There are almost no coins left on the exchanges.

Everything I read is literally bullshit, still nobody can explain why we went from 3000 to 7000 in 26hs

This was all already priced in by the time the hearing started.  *never* buy on news.

Remember all the good news we had in April too? Actually the FinCEN guidance was largely viewed as bullish when it was released too, accompanied by relatively positive talks by government officials. But it was manipulated to fit the bear narrative. This government approach is nothing new.

The truth is, we rose too fast.  Still way up week on week. Medium term, we can't rise at this pace, and need to correct. We have a fair way down to go yet.  

If we stabilize at $600ish by the end of the day, we should be back at $650+ by tomorrow.

Is China off to the races again?

I say we briefly test $300 tomorrow before finding a new equilibrium around $400.

I agree this price cannot be sustained. No level headed investor is going to buy in at the top of a huge rally like this. Investing 101 says buy low and sell high, and most investors realize this. They are not going to continue to dump money into it on a huge upswing like this. It has gone up way too high & too fast to be sustained.

I would be very surprised not to see a flash crash down to the $300-$400 range this week. I expect this to happen any moment now. You can already see the market adjusting, but I doubt it will stop at $560. Even at $560 it's gone up too high & too fast to be sustained. Sorry bulls, but Bitcoin is not ready to be steady at >$550 just yet. This is just the middle of yet another bubble... this is not the first and it will not be the last.

/speculation