Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

I'm quite amazed where these huge sellers get their coins from.

Remember those 850.000 bitcoins "lost" on the MtGox? Somebody has the private keys of those BTC. Ask yourself what would you do if that was you. Would you hold all of them, or would you convert some to the fiat?

I would be wary of exchanges. If you look at Stamp, for over a month, you see huge sell walls placed at intervals. And to withdraw that much of fiat, the exchange would require your identity and bank account. So, the key person to know why the huge btc quantity of sell limit order is the exchange owner.

Many people are speculating why the market has been so bearish. If the bitcoin news websites are smart, they would bug the exchange owners for answers. Think about it, all we can see are just the orders and transactions. The exchange owners are able to see who are placing these orders and making these huge transactions.

The exchange owners are in the perfect position to make such manipulations. They have their own funds, and I think nothing stop them from doing such things.

I would not be surprised if they are behind the recent moves.

It is possible that they jump on board from time to time; however, I doubt that it is really the exchanges that are pushing for lower prices... there are other entities, such as banks and financial institutions and even big BTC accumulators, that have greater means and greater incentives to engage in such downward manipulations.

Exchange owners would NOT want to get caught engaged in such behavior, if they were, b/c getting caught would be bad for their business and their credibility to act as conduits rather than instruments of change.