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

I've noticed that "bearwhale" is now some sort of deity cult figure. Apparently he has a huge power over the markets. Reminds me of KARHU, but that one was a joke.

Repent! Cheesy

Bow before your new God.

https://www.reddit.com/r/BitcoinMarkets/comments/2hyl9c/daily_discussion_wednesday_october_01_2014/ckxbdu6

EDIT: I wonder how many people in this thread don't also frequent r/BitcoinMarkets.

He left out the 2k walls that the guy put up to stall the rally. Every time the price dipped below the next 5USD level, he moved his walls down.

With no evidence, I have always believed the guy killed off either a bubble or a rise to a "normal" level of 800USD. Instead, we have seriously damaged the reputation of btc by crashing down to the 300's.

Edit: I see no reason to read /r/bitcoinmarkets. Short trolls and book talking dominate the subreddit. This thread has several of the major whales in it (please don't delete my post again, you know it is true) and I am entertained reading what they say about price changes.

Aren't the whales worried at all about the fact that these dumps are causing some people to seriously give up and walk away from Bitcoin? I would think that they would hope, at some point, for the price to rise. If more buyers just walk away with no intention to return the whales could just be shooting themselves in their own foot with these dumps. I can understand their desire to use their stash of coins to make more, but they can manipulate the market at a higher point later just by giving the market some "breathing room" and letting it rise. But what do I know? Huh

Just a small holder here.

Same question I have BitChick. It really seems as if more is going on here than just a whale with a lot of coins selling. Someone seems to have an endless supply of coins and is actively trying to suppress a market that would naturally rise if not for the massive sell walls. If they are trying to destroy market confidence, I say it's likely working so far.

Remove those walls, and I guarantee that we'd be at 500+ in 2 weeks, and with rising volume.

But no... don't even so much as breathe the word 'manipulation' on these sub, lest you get completely ridiculed and called a tinfoil hat wearer. Even though the whales' intentions are so obvious an 8-year old could figure it out with the data.

I have heard several large companies, such as Coinbase, mention that they were concerned that price volatility would cause some people not to use Bitcoin. I took that to mean that perhaps they were going to be actively trying to keep the price stable. The question though would be that in trying to provide "stability" are they just causing people to choose not to invest in BTC at all? We are still so early in this that one of the attractive benefits of BTC is that we are early and there are large increases in price that can happen. Sure, when the market is more saturated and we have greater adoption and use worldwide then a more stable price would be desirable, but during this growth phase we need to stimulate interest and nothing stimulates that more than a nice bubble!