You can tell the bears are getting panicky when all the triangles come out!  Pythagoras must be rolling in his grave!

 

Umm i see 2114BTC offer available just at 0.0055% and to get a mil in USD would prob cost you around 0.6% that's a 100 fold difference in a rate. What does that tell you? Oh you were just trolling to get cheap coins from noobs sry then carry on

the rear view mirror. bought at $789 just sold. BOOyah!

When will Bitstamp and BTC-e move closer to gox? The lead is 120$+ now.

Every other exchange looks poised for a down move IMO, except silly Gox levitating $130 above all others.

I've come to conclusion that declaring one's bearish sentiment here on the forums is a bad idea. It'll just make the whales want to squeeze you out even more.  

To me the downtrend from the 6th to the ~18th of Janurary failed, coupled with the fresh new fiat from the good news, overstock for example, will be hitting the exchanges about now.

Gox is just leading the charge like usual.

I really wish there was a safe reliable way to lend out my coins to bears for short-selling. I'd get more coins and market slides would be halted by bears covering their shorts. it would be win-win. and I'd get the added entertainment of short-squeeze drama.

good, stay out, and don't come to cry later "If" the price will start rising and you miss the train....

Sure seems like someone is trying to manipulate the market.   Lots of 0.01 and now many trades for way below ask.   Look at that spate of 820 buys.   (bitstamp)

They seem to be trying to trigger bot dumps.

I am the biggest Idiot that I try to explain obvious things to some people, you are welcome

you silly boy. not only do you gamble your money, now you gamble your ego.

can you articulate the peculiarity which you perceive?

From what I have read here, BTC-China decided to play it safe, and stopped accepting cash deposits. They now use vouchers that one can buy at e-commerce sites -- a system which is very cumbersome at least.

Huobi and OKCoin still accept cash deposits through commercial bank accounts.  I have read here that the owners are related to powerful politicians; if true, that may explain why they have chosen to run this risk.  I have seen no reports of problems with withdrawals, but presumaby they must be in CNY only.

Mat, So am I to think that there is to be a crash +/- 1 Feb followed by a run up by Chinese big boys?  Is that your take?

Seek no further. MatTheCat has found The Oracle.

(Was he a London cabbie?)

Come on, you have to admit it's quite funny quoting a "wideboy"! Sorry, couldn't resist

Just play with dogecoin until bitcoin starts moving again. That's what I and many others are currently doing. Dogecoin will probably crash when Bitcoin starts moving again.

Stamp instantaneous realy moves like a zombie.

Wake up!

Move ya' bitch!  

The crash already happened, have you forgot December?

Bear market ends when i say so, none of this TA crap matters, thats the bottom line.

Bitcoin has gone below the 200EMA once since October 2010, that was for 1 week in July 2013. I can see why you might think this is an indicator for the end of a bear market, however what about the previous bubble, in 2012, the 200EMA was not breached at all, and that Bear market has clearly ended.

Why are you paying interest to borrow btc when you have btc you could just sell?

totally convinced, eh? Can I quote you on that later?

In fact, it is.  One of the basic premises of Dogecoin is the meme-factor.  From a viral marketing perspective, dogecoins cute dogs and silly language is much more appealing to the majority of the human psyche than bitcoin's marketing, which talks of decentralized, p2p networks, ecliptic curve digital signature algorithms, hash functions, and merchant adoption (which is admittedly still hard to find unless you are looking).

Okay. There is Willy on the side of Gox, buying all the coins and even does not care for nothing more than buying no matter which price. That's one reason for the existing big price differences between the exchanges.

But to ask another time:

What the fuck is going on with stamp?

There are popping up of sell offers for hundreds of Coins, even below the price of BTC-E and Huobi, what is really abnormal. And it seems like there is no motivation to close the gap to BTC-E and Huobi.

Any idea?

Volume on Tue Jan/21 UTC was quite a bit lower than on Mon Jan/20 at most exchanges, especially on Huobi (41 kBTC against 72).  China's share srunk a bit but is still ~71%.

Today (Wed Jan/21) the volume at Huobi between 09:00 and 10:00 local time was quite a bit lower then usual, it looks like a Sunday.  Is that because of the Chinese New Year holidays?


               !    Wed !    Thu !    Fri !    Sat !    Sun !    Mon !    Tue !    Wed
               !  01/15 !  01/16 !  01/17 !  01/18 !  01/19 !  01/20 !  01/21 !  01/22
Day total      |  91.40 |  67.37 |  74.21 |  43.60 |  67.27 |  71.78 |  40.55 |   ??
09:00-09:59    |   1.61 |   1.29 |   3.22 |   2.59 |   0.48 |   4.69 |   1.28 |   0.63

What is going on at gox? Is gox trying to lead a rally by itself? Or is this the usual trapped fiat eruption?

After GOX pops, how bad do you think it will get as all the exchanges start to capitulate at once? you think we might see 500 again?

It seems that the significant transactions at MtGOX always occur at the upper end of the spread, while the reverse is generally true for Bitstamp.  Does that mean something?

People would be scared as fuck, tryin to get their money out of the remaining exchanges as long as they provide a withdrawl service, which is already happenin on Stamp as it seems.

If volume is a constant, then the income of an exchange is directly proportional to the btc price. This is because the fees collected are equal to volume times a percentage times the bitcoin price. If btc price halves, then gross income halves. If income falls below operating costs or the profit level is no longer of interest to the exchange operators then there is a problem.

Stamp broken below tight range to 810 USD

Wall at 810 under attack 70 btc in a blink

Just look at the Huobi volume, it plummeted a lot in the last 2 weeks :O:O:O
http://bitcoinity.org/markets/list?currency=ALL&span=24h

I wouldn´t put my bids over 500$. More likely 2-300$

your the clown telling people to short bitcoin cool story

Stamp you better hodl and wall up!
Holding a paperwallet here right now  

Under 800 and i'm cashing it.

FINALLY UNDER $800 I've been waiting all week for this. Bring on the massive sell off. I want cheap coins!

1st buy completed.

yeah, real sorry about that, I'm one of the assholes who bought at 871,

virtex is messed up, everybody looking for deals, but nobody selling.

I am?

I sodl 
Need to buy in again, is 750 out of the question for this panic drop?

Yeah, it was extremely violent 15$ drop, there is blood everywhere, lol

778 on Stamp. Might get another bite soon.

It looks like the price started going down on Huobi, according to bitcoin wisdom charts.  09:00 was the start of the red candles there, but thy didnt start until 10:00 on the european exchanges.

Is btc-e leading the market now? Or stamp? Looks like Mtgox/hyubi is out of the game or irrelevant

hyubi doesnt want to cooperate in a pump it seems

Patience, patience. Give her a few days more. There's a lot of negative expectation to work out of the system.

Noob question, if everyone sees 31st Jan as a downtrend day, why have they not sold already? Are people really waiting until after a drop on that day to sell? and if so is it not possible that the number of people who have already sold and are waiting to buy back would out number them?

I'm starting a business as a Bitcoin consultant. There's so much work to be done building the infrastructure.  

I can't find the coin cheapness indacator on bitcoinwisdom??

where can I find a place that charts this indacator?

It is the most accurate indacator for deciding when to buy and sell that I have ever seen!

But it didn't make that much of a dent.  BTC E is still $15 cheaper.   Bearstamp is still tied to Huobi and BTC E is off on a frolic of its own.

All cryptocoins are brothers in fate, if one fails the others will suffer too.

Pure bitcoiners may rejoice in the demise of a competitor, but people out there will wonder: if Dogecoin crashed without warning or reason, why wouldn't Bitcoin too?

1 week MACD about to cross, 3d MA coming down. Hell yeah, we´re going to test out new lows, lower that many of you might expect 
Choo chooo.

's adding up though.

seems to be chewing thru regular bids

Only Russians would have fiat withdrawal issues.. and they are a small minority of BTC-e customers.

This sounds interesting but I'm not following.  Run on what bank?  Evidence?

I don't want to black talk or something like that but bad things have happened.

Ahh, Mat, bitcoin doesn't enable money laundering. The ones that profit from money laundering are the ones that enable money laundering.
Some day you will get this. I can feel it.

You see! you are getting it!

bitcoin enables the small/medium guys to have a chance in this world that is controlled top-down by a very few, at the very top.

It will be a bumpy ride, so buckle up!

*edit* quick thought, that overstock guy is one of the 'medium' guys... why do you think the price of his company's stock dropped so hard after he came out in favour of bitcoin?

Which Bank again was laundered Billions and Billions of money for the Mexican cartel and nobody went to Jail? yea, Google it.
That's one of the reasons talking about Bitcoin as just for money laundry is absurd.  

Who is gonna dump first?

It would be sweet if stamp would dump hard and either eat, or scare away that wall at 800...

He who dumps first, dumps best. (the rest all just get to sit around in the stink  )

Its all good everyone, Mt Gox works! I can prove it too. macsga withdrew 11.2BTC, so that means it works for everyone! He has proof Mt.Gox is ligitimate and works for all. Just follow his links its all the proof you need, he successfully withdrew BTC from GOX were saved. it all works.....

The BTC-e thing was pretty obviously malicious FUD, but the Gox issue is live and frankly, worrying to a nervous market.

It doesn't look like anyone is following anyone at the moment. We are all running in place. There is enough new fiat coming into the exchanges to buy up any excess supply of bitcoins and besides that everyone is just staring at everyone else.

I think those were last cheap coins... Tomorow btc china will be full of fiat again.

Edit. Now we sow how much money is on stamp account... Was lots of selling in last 24h and the price moved +/-10$

Gox dropping again!!!

WOOHOOOO!!!!!

I don't see the point of the Mtgox dump.

The chances of withdrawing your BTC successfully are still higher than fiat withdrawals.

When people can't see bitcoinwisdom, then most can't see how the new rise has weak support with weak volume. They can only see that the price is rising and they will buy in with less fear.. and then there can be more big dumps. Bitstamp is currently at 790, while there is decent buy support only at 772. But I bet the religious zealots are already buying in because it seems to be going to da m00n.
Like I told yesterday, this dance will last a long time, until all the "right whales" have sold their coins to the choo choo folks for the right price.

I've moved to 50% fiat.... it's making me nervous that Gox has dropped from over $900 to $840 but Stamp & BTC-E have barely shifted.
Maybe the gap is being closed (which is good) but I can't see why and there's not much news to go on, just the Apple FUD.

Bitcoins can be bought with cash in 28,000 stores in the UK from today using ZipZap.

http://www.coindesk.com/can-now-pay-cash-bitcoin-28000-uk-stores/

I think this could be significant, particularly for immigrants who normally send a lot of their income home via the likes of Western Union.

So even in my small home town there are now 5 retail outlets where I can buy Bitcoins for cash.

if you take the time to read the article, you'd see that it would be around a 4% premium..

edit: oh nice you sroted it out

If BTC can't leave Gox, why would the other exchanges drop?  I'd say that if coins can't leave an exchange, it is no longer a player.

Can I do this with coinbase or is that too much? I'd love to not have to hold fiat on an exchange.

Another sleeples night? Was going to bed until I saw gox down. Hope the others will follow  

Since that reply it's started going up again already. But maybe one more drop, when Gox hits zero. And then...

Bounce official?

Confirmed.

So now what? Knowing Mark this either will take weeks, months or will never be solved at all.
Will Stamp just keep on going on down or will the sheep at one point understand that selling on Stamp because of Gox is as stupid as it gets?

Ah of course. All that selling on Stamp is done by wolves and not by idiots panicing because Gox going down. Yeah silly me, how did i not see that.

Do whales get nervous -- in either the literal or idiomatic sense?

I'd have thought due to his size (physical or financial) he would simply shrug and swim on.

Goxcoins gonna rocket. It's just a matter of time. Window of opportunity is finite. In this game, you have to put your self in a position to get lucky.

Check your math.

Where do you think are we going next hours? do you think we are going to break 530 (bitstamp) next time we hit?

You also thought that "$900 were the cheap coins". :0

Seleme?

Seleme traded around $90 000 today and still waiting for 85k more to be filled  

I'd ask you to help me to fill those but you sold at 10$, you can bring price down about 0.33$ if you'd sell your stash  

Mat, you're my inspiration here, really, I'd do much worse if you're not my reminder what happens when someone has balls like pease

What seleme talks and what seleme does are two different things. But I don't expect guy who sold his bitcoins at 10$ to understand that, he's too busy being angry on the Universe  

Lol, I'm not lying you sad fucker, I'm taking it easy and having fun while making loads of money, I never had better time in my life so of course I'll chill around.

the support is strong. so far all signs point that this is bottom. I don't think any gox update can push us below this 530 support.

I agree that we won't really get moving until the gox issue is sorted out, but i seriously doubt that the support is in "major jeopardy"

gox is already dead to alot of poeple, whether it fails miserably or lives to trade another day, the result will be the same, less uncertainty, more confidence,  UP!

1) we have tested it 3 times now and not broken it  ( maybe sellers realize they are getting ripped off if they sell a bitcoin for less than that, no matter what FUD is going around)
2) may star daily candles, indicating disagreement on price...  (  no shit FUD is scaring poeple into selling, while anyone with half a brain knows bitcoin is going places. )
3) volume speaks volumes
4) because i say so.

) 765 would have held had it not been for extreme FUD, i remember sending out an update saying the down trend was showing signs of reversing, then chraily got arrested. and it all went downhill for there.
2) a large daily candle with a top and bottom tail ( indicating disagreement  on price)
3) on the first slide down, the 14th there was much more volume on the way back up.
4) I am deeply saddened by this unfortunate string of bad luck.

if 765 didnt hold because of fud, why are we at 550?

yes, I agree. bitstamp price is ridiculous. bitstamp rally following a mtgox rally is even more ridiculous. if the price is decoupled, what is the reason for this rally? I will tell you :

$580 was never a big resistance point, $616 was next logical retracement target IMO.



I can't see it past $707 level, but a break of $640 will still look like a short-term break from the down trend.

Sounds there are a lot of Gox haters on here that are actually rooting for Gox to go insolvent and for people to lose their money. I bought some Goxbux and I am willing to take a full loss on it, however, I would never root for thousands of people to lose their money.

could it be because poeple are buying bitcoin?

Momentum chasers, here's your chance to get back on the train. This trend still has legs.

Let's see whether I got it right: someone noticed that MtGOX made a tiny transaction, which actually was like several others that they had been doing all along since the lock-in; a transaction which had nothing to do with withdrawals, and moreover was rejected by the network because it contained mined bitcoin that was too fresh -- a bug that MtGOX's software was known to have, and which apparently has not been fixed yet.  That is why the market suddenly got excited and optimistic, and the price jumped up by 10% in a few hours . Correct?

yea I want out of Australia too - I just don't know of any truly independent and non-corrupt place to go to though.

I must be too drunk because I can't find TERA's thread. But I thought the nongox news this month was pretty bullish.

Yeah but today there is also a small group of extreme BAG HODLERS who bought at $1000!

My dad bought at $31/BTC in 2011 and held. Was that a bad move and if not, Why is holding coins bought at $1000 a bad move?

The ONLY way you're gonna lose money is by selling below your buy price. The ONLY way you're gonna lose is by listening to assholes who are telling you to cut losses.

There was that nice Australian girl a few weeks back - Julie was it? Extreme Hodler and you know what Mat, probably whole lot less stressed than someone trying to judge a swing, missing it, immediately taking a loss, trying again, sweating, etc.

Edit:
Bitfinex works through Stamps orderbook.

There is always a terrible delay between the prices at Bitstamp and BFX. I am guessing bots are executing market buys thinking they are buying at $595 when they are actually driving the price up to $630.

Who has 10k btc on stamp???  

It's Mark…. Selling all the cheap coins he bought on his exchange... duh!

Re this 10K sell wall at 600....bit irrelevant since we're hitting the 570s now

10k creeping down $600, then $595, scaring but not selling?

Wallosaurus going to smack the sellers which front-run him just before gox restarts??

I dont follow, at all.

Simple = limit order at last trade price?

Limit = sell to your own limit

poof

now everyone is scared...


well played sir.

well played.

well if he wanted to sell hes doing it wrong...
 all his wall is doing is making people sell in front of him, pushing the price lower and lower, and thats no good if you want to sell 10K coins.....

if we all hit buy with an amount we can all afford to lose at the same time does the wall fall?

 

Someone bit the wall and it disappeared!

Its being pulled and re-posted, unless bitcoinity is glitching.

I can recall times when that wall would cause more panic.

LOL.  I have canceled orders many times partially filled.    Are you joking?

i'm in 540 because i like what i see.

220  
bull trap do you think?

Granted it could be some clueless chinese guy who did a simple order with default USD price, then he saw the price and thought that is way too few yuan mom, so he figured out a limit order after canceling the simple one.    so now he will never sell for 5 years maybe.

It seems unlikely though becuase he did this price swing several times so it seems more like he/they is trying to manipulate people's behavior.  10K coins isn't enough to dent bitcoin, but he can fuck with stupid people's pysche's with it, at today's volumes.

So after the 10k coins are sold into the market and 6 million dollars are removed from the exchange the price is suppose to go up with 6 million dollars less on the books?

Look, everyone are buying that big wall. Go and buy those "cheap coins" quickly!
Doesn't mater that this buying pressure just came out of thin air and no one was interested in buying 580$ coins before that big wall ;-)

lol what happend? i was gone for 1 hour and now low is 514?

very nice recovery tbh

bullish

Did the big sell off record disappear from BTC Wisdom?  It was there, then BTC Wisdom went down for 30 secs or so, then it was gone. Weird.

You gotta love how MR. Civility shows he's just as vulgar as the rest of us when he's almost right. Congrats, Bro. Now you're still wrong and you have no moral high ground. I've made more fiat, more BTC, and shown you to be a hypocrite. If that's what it takes to be a dumb fuck, I'll take it.

I don't think we will ever know what was the lasting effect on BTC price of that 10,000 BTC sale on Bitstamp. for almost 6 million dollars.

Well, you can always hope. You also hoped that 530 was the bottom that marked the start of an uptrend. Let's see where these hopes will get you.
I only find it amusing that you present your personal hopes as solid speculations. If it's your goal to amuse people with this entertainment, then no problem.

Don't know about Mr Allen, but where do you get it from that because we're in a bear market your total worth has to have taken a 50% hair cut?

That reminds me - got to get down to my local Tunisian barber. A bargain at 6 Euros a shot!

Touched that you thought we might hail from the same place but I'm an Englishman living in Brussels, Belgium!

Where are you from then? Glasgow?

Anyone following my $530 bottom call has made money, even if the numbers didn't exactly match. Anyone waiting for $500 coins is still waiting. Fact.

1800BTC until 580 on Stamp and also a 1000BTC ask wall@580 on BTC-E.
It´s getting cheaper every day  

Gox just admitted insolvency...

779?

Can't find anything on that... Bullshit?

Probably true. But I'd be careful making too much of that whale dump. Go back to July 10 (or so) in 2013. Marked the end of the post-April bear market. Buying pressure slowly, but clearly started building up after the bottom, 2h, then 6h BB started looking really nice, then: HUGE dump.

Took price development back for about a week, but didn't alter the general direction.

What I'm trying to say is: not sure yet if this is the reversal or not, but whales can occasionally be dumbfucks as well, and can lose money. Whoever dumped that huge load back in July 18 never got his coins back for the same price (unless he was on gox in the past days, but that doesn't quite cut it.)

good!

post your trading history or screenshots, so we can mock you later.

Something is off about the Bitfinex order book. There's only like 4k btc on the ask side. To me it seems like someone that is a market maker with a ton of coins took all of their asks out.
Edit: 1 minute ago there was 4600 btc total on the ask side, now there is 3400

I think they fixed the thing where you could make huge walls without actually having enough money on Bitfinex.

are we going to have that same rebound at 630 on stamp or are we going lower

Anyone else having problems with BTC-e deposits? I have 3 deposits of 65 BTC combines with 12 and 13 confirmations and still not credited to my account.

I smell a possible bear trap. Wait and see.

I'm curious, did you start using Bitfinex again? I also closed my short at 552ish cause I usually wait to long, and I think people love to go on a rally no matter how bad it looks.

My bet is that Bitfinex wants to break off and be an exchange in its own right. I'm sure that was always the plan.

According to bitcoinwisdom charts, BFX has more than half as much volume as BTSP.

BFX yesterday ~16,000
BSTP yesterday ~ 21,000

[Activate gamble/kamikaze mode] shorts closed, goin long , closin between 568-608[/Activate gamble/kamikaze mode]

Wish me good luck

True. I'm a fan of Bitfinex and make most of my trades there. I do get uncomfortable holding margin for any significant period of time there though because of the thin order book.

That drop to $100 on 2/10 would have cleaned me out if I was long with any significant margin.  

I jumped back in at $560 but pulled out just a minute ago in the low $530s.

I'll believe a break of $530 when I see it, then probably ride down towards $500 - $510 and load up. I don't think we'll see mid-400s unless we get full confirmation of GOX implosion and even then...

Who's calling the bottom?  Any TA experts brave enough to call it?

Yeah, that was me.  Every time you go to battle, you have to ask yourself "is this the hill I want to die on?" Bitcoin is my hill. You can crush me to bits, but you won't get my coins. fact.

$482 tranche brought to you by VISA. it's everywhere you want to be

Thanks Matt the shorter for that message from our sponsor BFX.

$464 tranche brought to you by Mastercard. Fuuuuuuck I'm drunk. This sucks.

It almost seems as if someone at Bitstamp is attempting to FORCE that to happen so that people will think this.

your forgot the 1d MACD, which is turning green.

So what about this "big turn". Do YOU know how to tell when it's happening? What signs are there? Is it happening now?

I do not know whether the Chinese use robots or semi-automatic tools.  But I would not call them "high-fequency".  This term usually means a trading robot that does many transactions per second, to exploit very small margins.  All Huobi clients together do perhaps a few hundred transactions per minute, and many of these look rather human (with round numbers, for instance).

Wow, I just woke up and saw those couple million dollars are scaring the shit out of the bears. Wow!

I've thought over my trading history and realize 80%-90% if my profits are all made during new-ATH rallies and the huge crashes afterwards. I perform very poorly during bear markets and consolidations, and make bank during the rally/crash conditions, doubling my coins exponentially every week. So I should probably just make a resolution to only trade during those short 2-3 month time periods and then leave whenever there is a bear market. Maybe I use the 1W MACD to determine this.

They asked you for 'proof', or they asked they asked you to make a simple statement on a KYC form?

I agree. But the general infrastructure is robust: excessive measures by any single exchange hurt that exchange more than anything, and therefore the competition keeps them at check.

My "permabullness" has lasted for exactly 50 days now. Before that I was a bear for 97 days, almost twice as long!

(Bold) When?

Well yes, it's a shame that it is mostly Bitcoin cultists on the one hand and Bitcoin haters on the other, but that's the nature of controversial topics. I like Bitcoin, but I dislike the cultists because they rob themselves of intellectual freedom and attempt to do the same to others.

I guess whoever is trying to suppress the price at the moment doesn't care about being obvious. These walls on Stamp and Finex are the most obvious fake walls I have ever seen.

Is someone hoping their deposit lands in an account before the next leg up?

And the wall got moved back.

I see someone borrowed a bunch of bitcoin on BFX to hold the price in check until their funds clear.

so is it time for that correction soon? i need to get in. money still wont be at bitstamp until tuesday, so im hoping nothing too crazy happens before then. one step at a time, bitcoin....

It is spread out.

Is anyone up to date on when 1. the first Bitcoin ETF and 2. the Secondmarket exchange (with daily fixed prices) are to come out? I would very much like to leave this clown exchange infrastructure that we still have behind.

It's spread out to add to the ask depth to not bi obvious. Thought that would be common sense. You don't want to wall it up and cause a panic drop, you just don't want it climbing too much. If you sell off some of the btc oh well, its still better than letting another "whale" run away with the price.

Huobi ahead of Stamp as well. All this on a sunday. I'd forgotten sunday pumps tbh 

Is this for real or just another bitcoinwisdom glitch?

WONDER IF IGORR WOULD EVER REALIZE HE IS TALKING TO HIMSELF HERE... shit, caps

I don't give a shit who launched us to 1000  

Seriously, if a SINGLE BOT can be the major reason for the bitcoin bubble in December then we need to make a TON of 'em and mass produce these guys!  

Wrong.

Willy bot was less than 15% of volume on Mtgox.

Mtgox did not lead us up, that was China. Remember you throwing hissy fit about china controlling the prices?

15% of an exchange that was like 10% of overall volume for all exchanges.

What a fucking bitter brain dead moron you are Mat, lol, the only idiot here is you selling your bitcoins at 10$ and buying back at 700$. And than crying for months and being angry on anyone who wasn't such fool.

ROFLMAO

Why should we wait. You were wrong igorr. You continue to be wrong and despite your frankly pathetic attempts to rake up FUD you will likely be wrong in the future.

I never sold my shitcoin portfolio Mat

Literally no one saw that coming.

i think that we will have another push up above 600....maybe to 610 or 620, then maybe have a slide down to the 510-530 area before the next massive wave of buying happens. well, thats what i am hoping for anyway!

Hey, guys? I just ate an entire can of tuna that turned out to be well past its sell-by date... and I think I suddenly saw the future!

Here, I made a drawing for you... I like to call it "the mother of all double tops".

tea leaves analyst reveals a cup and handle

Eh. Bitstamp gonna take that wall down or what.

Looks like whalebro can't quite make up his mind...

and the swap is back. he buys up 100k of swap; offers swap at high rates. closes what he borrowed after a few minutes.

The theory is that a mysterious someone on bfx with lots of BTC took up all the USD swap offers so that he could sell a bunch of BTC and crash the market, and the market would be unable to bounce back up. Then it would drift down a little more because there would be nothing to prohibit the panic sellers from selling. For a few minutes, that is. At which time he would buy back a bunch of btc. And then release the swap offers, which would allow other traders to borrow USD and send the market drifting back up.

I don't think that guy's out of coins...

Its 1500 back to 605 on stamp and around the same to get back up to 680. Thin market.

But if they were panic selling, the USD swaps would not have disappeared during the flash drop down

yes. wonder why btc exchangers should not frontrun, insider trade, and commit any other sort of malfeasance and market manipulation.
I would be actually very surprised if they were not.

Do we really need a nefarious explanation for all of this?  Market was pretty overbought on the short-term and corrected/ is correcting.

PS: just look at the 1h chart on bitcoinwisdom.

Nice surprise right when I woke up, rpietila showing his mansion at the front page of Helsingin Sanomat, Finland's largest news papers:

http://www.hs.fi/ulkomaat/Suomalaismies+osti+kartanon+bitcoinilla/a1401596630456



From the article:
"34-year old Pietilä may be one of the few people who got rich with bitcoin before the virtual currency crashed in value" 

Also my first post here, been lurking tightly since the last bubble when I first learned about bitcoin and bought my first ones. Bought a little more this morning after reading the news. 

It amazes me there are still people selling. The market clearly wants to go up. Why would you possibly sell now.

not so straight wall of china Bitfinex

That's racist.

That one order alone pumped up the volume, the buy wall filled up quickly

why suddenly 15-20 USD jump any explanation pls.

Stamp is showing who is boss. Take that, China

WHAT'S GOING ON

Bid side is not looking too strong.

Whats odd is that the wall got eaten so quick, as if Mr Whale Bear was sitting as his computer waiting.

Then, when it started to look like that didn't derail the rally, some decided to buy back in, creating momentum, so more bought back, etc.

Or as if everyone who bought on the plunge yesterday was ready for a quick 10% profit in 24 hours...The ask wall was only 500K @665.

ok, like WTF just happened,

I get home from work and I'm really starting to wonder if my job is not costing me more in lost opportunity than it provides in stability...

It is what it is player

Can't handle it? Enter the stock market

Thanks Mat, I certainly didn't see it coming, though I did buy at that short-term bottom, still not willing to sell, still hoping we will blow through that 680 level at some point and then overextend and fall back to 680 as support, for a few weeks (days???   )


I'm sure that this market (all markets) are manipulated,

I'm still curious to see if open, transparent manipulation of bitcoin is any better or worse than the closed and "regulated" manipulation of other markets.

it's fun to watch it play out  

I'd recommend that if you can take a neutral, honest, and non-emotional approach to the idea of bitcoin in general, that you will do much better in the long term than betting on red.

That wall is so going to get pulled. It's just there to scare the kids off the lawn.

Prices are just about equal on Huobi, Stamp, and Okcoin right now...  That doesn't happen all that often

The other exchanges have seemed at times like they want to take off but the market is being nailed down by Wall Guy on Stamp. There was a wall yesterday 1500BTC strong at $670. Last time I checked today before I went out, there was a wall at $665 of over 1000 BTC; now that I have come back, that wall is sitting at $660. I guess it will keep advancing on the retreating Bid wall until it retreats no more.

$650 broke as I am typing. Good! I bought at $660 but the market needs shifting.

now than an actual seller has cleared some room, perhaps we can overtake the fake wall at last.

its pretty obvious that some sharks want us in this area. Most of the walls are fake, but once they get done with their fun, then we should see some fun..

Decision time:

Interestingly, the selling pressure seems to be mostly on Bitstamp. Any thoughts why?

The sooner it happens the sooner I take it off. 

Or maybe he's asleep.

Like I said, look at the fake head-and-shoulders pattern that these whale(s) have been trying to paint on the tape since May 30th.  Now they're trying to paint the right shoulder and get it to roll over and fall off.  They want all the n00b TA traders to see that, and be like "It's the right shoulder forming!! See ?!?! SELL! SELL! SELL!"

The fight is on with low-medium volume!!! 

There is a lot of action going on right now.   The price hasn't swung all that much, but there are mucho coin changing hands across all exchanges right now.   Would be fun to head into the weekend with a rally!

Seems like we are below support... This is not looking bullish to me. Hopefully just a pause in the rally

This was clearly a scary wall that got eaten a bit. He bought now back after he took wall down.

Its really hard, no rally this weekend so we have to wait for weekdays.

what happened to the 1K wall on stamp???

+1

here we go
bitstamp starts rising...

We're now either in a consolidation phase after an impressive rise and before another leg up, or the mid-May rally ran out of steam and the market is in a state now that could be summarized as: "reluctant to accept that the only way is down". Depends on who you ask which answer you get.

I want your 'delusions' they seem pleasant please post here so i can 'copy $ paste them' with my 'tinfoil hat usb interface"

thank you

Searing
 

btw. I see Bitfinex leading with the price now.

Then you need to open your eyes. Please try to make sense of how this is actually just normal. Remember how gox had the most irrational trading going on the last month before it closed? Well, it might not be the case, but do you want to keep your coins there?

Your assumption is not too unlikely, but with bitcoin we have no option for high speed trades between exchanges, except if they were conducted over an interchanging platform off-blockchain.

Bitcoin arbitrage is meh, the transaction time is slightly too slow to allow consistently efficient arbitrage.

Seriously? W00t. Then my order passed. Hello 20 BTC
If you were kidding, then I have no comment. Pure evil

I think we hit a top here. May be retesting 520 or 530 area (Bitfinex), but I think it will definitely hold this time, we'll see. Hopefully we'll see some bullish divergence to let us know that the low is in, and the rocket primed for takeoff...

I don't see why not. There was no reason for it to go down in the first place.
Just some slightly bad news followed by the usual panic. Now things calmed down and people are like "i better buy back. This wasn't the end of Bitcoin after all".

Looks like there will be soon a third failed attempt to go over $610 on Bitstamp. On the other hand, $540-560 on the downside should hold. Another couple weeks of a narrowing sideways trading?

It´s hard to tell when those pumps are coming like they did all of a sudden in wave 3 with the help of single huge market buys so i won´t close my longs from now on and rather pay the interest than to miss the pumps.

looks like we are poised for a jump

Apparently Huobi was feeling bullish about 8 hours ago and the feed is delayed by 8 hours.

Looks like btce is trying to be proactive about a drop and lead the way but its not working.

No way, Price must be 10-20% below market price, Its not easy to find so many whales who will openly come and bid for that coins.

Do please tell us Mat, what is the going market rate for bitcoins which are certified by the U.S. government to be free of legal encumbrances?

What, can't find any?

Hmm.  Perhaps they are, should we say, rare?

Left the office for a daytime bday party, and came back to a little slippage on Stamp...we have a little sell off or something?   We were sitting pretty above $600 for a while there...

416BTC just dumped off on Stamp at $485.   Pricing held pretty strong, as we stuck at $592

Yep, and just a few seconds ago, a > 250 BTC buy to $597 on BFX. Bulls and bears fighting it out in this excruciating sideways action....

I'm starting to wonder if I should be following finex instead of stamp.

Maybe you should discuss this with ShroomsKit via PM , he has some really convincing and valid arguments. I have done it before and it changed my mind totally!
Without the manipulators we would already be at 10000000$

Yeah, watch how Huobi tries to go up but Stamp refuses to budge.

My theories:

1.  Huobi volume really is fake, and Stamp knows it.  Thus refuses to follow such a small percentage of the market in the up direction.
2.  Stamp is deliberately holding down the market, fake sell walls, etc.  Probably on purpose until the SR coins are sold.

My money is more on #2, because Stamp seems to have no problem following Huobi in the down direction.
_{(Although I'm still not convinced Huobi's volume is 100% accurate)}

Yes.  And stop loss orders are not guaranteed, it depends on depth of buyers, and of course since they have level 3 inside access they know where the price points are at.

Agreed.   We the company will give you more leverage so we can make more money, and will give you automatic credit line and charge high interest loan rates.   alot of these exchanges have fake and low volume so thats why they make the dough through the spread and ripping off customers.

it would be nice if we could reach consensus with a single currency and cut out the money changers, but I feel that exchanges of some type will likely be always necessary.

we now have thousands of currencies to change into and out of, and the ones facilitating the trades are going to profit. but I guess that's the cost of the freedom to pick your currency of choice?

The price is so inestable, it´s danger to play now.

Just 24 hours ago he and the other usual trolls where crying like crazy because i felt the price was being kept down.
I mentioned how these losers are the first to cry about manipulation when the price goes up 10 bucks.
Well, there you go.
They're not even trying to hide their stupidity. Unbelievable.

There has been a lot of shrewd, sophisticated and patient acquisition over the last few days.  This, for Bitcoin, is highly irregular. 

So you traded 150 BTC and you don't own any. You're doing something really really wrong.

Yes, like I said, you're doing something very very wrong.

I'll say this only once: Buy the 15 BTC, withdraw them from the exchange, put them in a cold wallet and go do something else for a few years.

He trusts random strangers on the internet, who are operating an unregulated exchange.  WTF.  Crimea river, and call it de Nile.
I lost coins in the Gox insolvency.  You don't see me whinging about it.

This is amazing, Stamp never veering from $599.99 for days.  Nope, no manipulation involved at all.  Nope, pure free market, makes perfect sense it should stay that price.

 

no i'm buying now.

I am still sad about that 500btc wall guy that drove Bitstamp down from 685.  Somebody always spoils the party.

 

Longterm trend not broken, heading back up already

Obviously some big players just manipulated the market down so they can get their bids in at the last moment for some cheap coins. I hope nobody SODL.

Given that Bitfinex has decided to insure the entirety of its lenders (going so far as to rather make traders pay by canceling their trades in extreme situations), shouldn't it be the case that interest rates ought to have decreased? It seems to me that that's one big risk factor gone for everybody. Maybe it was indeed? I haven't been watching.

I've been here for quite some time and I agree with Shroomskit.  You can lay claim to keeping "[your] mind agile and free from cultist's poisonous thoughts" but your actions speak otherwise.

At times I feel compelled to start a vote to have you replaced as mod of this subforum, but to be honest, I just don't care enough.  Maybe someday.

did btc just fall below the very long term uptrend? :/

People shouting "Bull Trap!" or "Bear Trap!" before the trap is evidently visible, aren't more than doubtful guys trying to make themself more confident that the market will go where they wish.

Total sum of active swaps 26,134,755.35 USD

Don't those maniacs on Bitfinex ever decrease their margin positions, or do they just wait until they get liquidated? It's like a ticking time bomb.

For the past 6 months we've been in a sideways/down trend yet the swaps on bitfinex just keep growing and growing. There are now 500% as many swaps loaned out as there were at the PEAK of the rally at $1200.  It's quite fishy actually. I wonder if bitfinex is operating as a fractional reserve now?

How real is volume that is generated by 0% fees? We have to account for that.

Personally, I've only observed Bitstamp leading and Huobi following it reluctantly. I don't know why some perceive the opposite.

Those factors seem to be completely arbitrary.

Double bottom forming?

Guys, just a few moments ago there was another USMS auction email fuckup... this time, they leaked the form every potential bidder had to fill before submitting a bid:

This auction has been pretty useful for me. It's highlighted the stupidly of people on this forum that (a) think they will go for significantly below market price and, (b) even worse, think they will be immediately dumped on the exchanges.

Ok.  Here's the best I can do.  Resistance at 580.  Current price at 580.  I'll believe this is a rally if it breaks through on high volume.

It's also easy TA to provide a chart that shows the opposite.  You'd do better to zoom out a bit and look at the longer term trend.

nice little jump to 587, glad i bought at 561!

Even for next days-week I can conjure up just as convincing and easy TA that shows we're going up. Bear flag my ass, have you seen that bear flag at 420-450 in May? What a bear flag that was...

Bitfinex is leading this rally MFers!

Thats right, I'm talking to you MatTheHat.

Eat it.

Bitstamp is going to follow and then its going to lead, just like when the rally begin at $420.

Get ready to eat crow, MatTheHat.

This incoming rally  is the most obvious incoming rally we've had since Silk Road imploded and crashed the market down to $80.

I'm sure you do have your eye on that, as you are desperately trying to convince yourself that the resolution of this auction tomorrow is not going to light a short term fire under this market.

Mat, the only chance for you is trading on 1 day charts. You're just too hothead for anything more short timed.

I am hoping for a drop. I imagine that the price will soar within the year, but there is too much downside risk to jump in heavier around $580. Notably, I worry about Wall Street market manipulators intentionally tanking the market because they have derivative contracts referenced to Bitcoin. For example, in the lead up to the mortgage bubble, Goldman Sachs took out naked credit default swaps via AIG banking on a market collapse that they were responsible for. Notably, the payout of the naked credit default swaps was 10x the underlying dimunition of value in the mortgage market. This occurred because with this type of derivative, one needn't actually own the referenced security, commodity, currency, etc. that they are referencing the "insurance policy" to in order to receive a full payout. Moreover, they can contract for protection that is 100x the value of the underlying asset/currency/security/etc. Since these are unregulated contractual agreements there are no clearinghouses and nobody knows what negative positions people are taking. Resultantly, I think the intrinsic value of this innovation is multiple times its current value and, yet, it is way too easy to manipulate for me to want to get in at this price.

A couple other thoughts

(1) This is why a post-auction dump isn't unfathomable (albeit extremely, extremely unlikely)... an institutional player could use the acquired BTCs as a weapon to tank the market short-term in order to collect on a derivatives contract several orders of magnitude greater than their holdings;

(2) I think the argument for auctioneers buying at a premium is mildly flawed because, although they can buy without impacting the market, they cannot extract liquidity on that many BTCs without dropping the market unless they slow played it and in that case they'd still be holding a lot of risk. They probably will be expecting a jump in prices if they get in, but they'll still run into a similar problem if they look to unload down the line -- they'd have to be a true believer AND somewhat risk blind... they cannot actually utilize that many BTCs unless acceptance goes through the roof OR a major external economic event (Chinese mainland wealth migration). In short, I say it is mildly flawed because I think the reason for expecting a premium is spot-on, but I think it is outweighed by this second factor... I'd expect the auctioneers to buy at a 10% discount.

Full disclosure -- I own a very small holding of BTC (10), that I got at just over $400 a pop. I am holding for the long-term, but hoping for a short-term dump for another entry point. I am very biased in this regard. I missed the boat a while back on the best entry points so take what I say with a grain of salt. I am just curious what others think. I am short-term a mixture of anxious and giddy and long-term hopeful.

I think that was our double bottom folks...too the moon!!!

so what's the word? price goign up rather than down? -_^

This dump reeks of manipulation.  Possibly driving the price down before the auction ends...

Now we'll experience a bounce back up to $580 or so before the next round of sell offs begin.

It's not letting me buy on bitstamp thru BFX like before. Unless BFX has an automated bot that does it for them. I haven't seen any news on it either.

WTF MAT?? Why aren't we going doooooowwwwwwwnnnnnnnn??

obviously below 600 would have been better, but it's still a good bet I think. just try not to sell to early, it's gonna be a rough ride.

Also, I figure you'd be a good one to ask since you trade leverage. what do you think of https://btc.sx how do I enter a long position if I can't bet fiat?

Mat, hang on to your pants and walk away from the trading machine. Set an alert and come back in 5 days. You'll be happy.

Funny, really funny. Stop your TA shit as you can see it doesn't work for you, neither it would work for others.

lol every exchange has minimal trading if you just decide to take out all the big trades lmao 

Tired of looking at crappy line drawing that shows absolutely nothing, so here's what I see as the best altcoin trader in the universe.  So in other words, a trading range of 360 - 415.  Take the bottom of 360, add it to the top resistance point of 415, divide it by two = average of 387.5, exactly where the price is.



Called the 415 before it went there while it was at 370 or so in the 2nd wave blowoff too:

MACD is nothing else then a lagging indicator... It's the same as looking at the chart and say "Oh wow it goes up!" ... It's just visualized for the blind trader...

I think this is gentlemen tonight!

Interesting wall on Huobi 

Hard to say why was there, but I can agree that the owner knew this wall will get filled... Maybe he pushed the price on other exchanges down to fill this one.

With leveraged trading, anyone can go long and anyone can go short. Prior to leveraged trading, anyone could "go long" because going long meant exchanging fiat for bitcoin, and 100% of traders have fiat. Conversely, going short meant selling bitcoin for fiat, and the percentage of traders with bitcoin was way less than 100%. If you did not hold any bitcoin and you wanted to short it, then you'd have to buy some first before you could dump it on the market. Make sense?

EDIT: The creation of leveraged trading was therefore necessarily bearish for bitcoin. I wish I had understood that two years ago lol ...

^No need to rub it in, ChartBuddy. They know what they've done

Some kind of market gauging/moulding going on on Bitstamp.

All the other exchanges are deathly quiet, whilst Bitstamp has done over 5000 BTC of volume so far this hour.

Perhaps some whale, with inside exchange info feeding into his bot algorithm and 0% trade fees, is sitting swishing Bitcoins back and forward in order and trying to get a feel for 'genuine' non market manipulator selling and buying pressure.......or perhaps there is a battle going on between different whale entities, with different designs on where they want the price to go?


looks like the break is going to occur soon....probably a little drop, followed by a significant rise.

Some serious walls on Bitstamp, Bitfinex and Kraken.  

The Bulls have deep pockets...

will it gain support...? Time will tell...but I love when the Bollinger tightens!

Yep, probably one entity doing this.
Bulls vs Bears wars... Or someone trying to get filled own walls by pushing down Chinese exchanges.

but seriously you gotta be suicidal to buy at these prices.

look at that hourly tiny red candle with 6k volume!

support is way stronger than I expected. was THE PLUNGE intercepted  

starting to get nervous

Your bovine friend pooped himself and ran away. Nothing can save you now...

So where is the new bottom?

This is the face of panic sellers sub 370$ right now 

I love how people get over bullish when the pump is over and they still buy because they missed the train  

Yeah we just touched 360 but it is recovering already.

The people who sold at $2....$230....$365

Although I love those numbers, I'm presuming you meant 370 and 380? 

I really like the color of the new weekly candle the 9th green in a row?

I think the chance to go to 600 is higher then to sub 300

How about this as a strategy for a lazy trader (like me)? It's the cross-overs of K and J of the KDJ indicator.

Yea, looked like Bernanke needed to stop that China rally.

I'm not one for manipulation, but there have definitely been questionable trades that make me wonder.

Such as the dump you are referencing...

That 2 minute $10 dump really screwed up the chart. A breakout seemed imminent, but now I feel like we are the edge of a cliff.

May prompt me to buy some more even though I told myself I wouldn't.

It would not be in Stamp's interest to allow it's reputation to become tarnished if it were somehow allowing either fractional reserves or some other kind of manipulative conduct to occur on its exchange.

One of the only legitimate manipulations that I could imagine would be if Stamp were to allow a few big player clients to trade with very low or even non-existent fees (fees lower than their publicized high volume low levels), while other (regular people) traders are subjected to regular scheduled fees (between .1% and .25%). 

I understand that it is already in its business model to allow the lowest of fees to high volume traders, but surely there could be some benefits to Stamp to allow some non-publicized extra perks to some traders who are going to generate a lot of volume.... or just that there are a few "insiders" that receive preferrential treatment due to a relationship with the exchange owner/manager.

And, knowing that, you still chose to trade BTC, and even rely on TA to rationalize your trades

1-day macd has turned red, do we expect a drop ?

r0achstradamus strikes again:



$362 = the floor.  It will probably hold here, but even if it breaks, it's only going to $340-350ish, so pretty safe to buy now.

Looks like the whale has finally tired of the "keep-selling-into-my-own-walls" game.  Cause no takers, he's not making any money.  So no bounce.  

Will be much more fun to margin call the leveraged longs on the way down.

How low does everybody think we will realistically go in the short term?

I usually buy 2 bitcoin's every month to HODL on pay day but the short term price may influence that. Thinking about buying more if we continue to tank?

.... I think you'll find you've forgot a zero. Shorts are way below longs in USD.

was it that hard to close your longs when we went parabolic to 500$?


 At least for me it wasn't....

Wow. +1 for being honest with yourself and admitting these things. I think there are a lot of very butthurt people lurking among us who traded like you.

Next time leave your emotions in the garden

I guess I did ok not buying back then...





...or is the bounce imminent?

too obvious  

that bear is desperate