Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
care to explain how someone can do stupid things regardless of what happens next?
I cannot believe you do not understand this: It is stupid to increase your slippage cost, reduce your execution chances and increase your counter-party exposure by selling only on one single exchange. It does not matter what followed after. And in his case, the price actually rose for months afterwards, and he sold at the bottom. Had he had a modicum of sense execution wise and technicals wise, he'd have done much better.Also, I don't believe he has another 30k because the way he sold showed that he was in a rush, for whatever reason. I'm sure you agree.
you didnt answer my question really and again you are questioning his trading methods.
you said that he was stupid to sell regardless of what happens next and I am asking to you what happens if price crashes to 100 $ levels?
Blitz is right. It is quite clear that the owner of those 30K+ coins were an amateur. Starting with dispensing coins in small portions. Got afraid when price went down, did not understand that he was reason for the downtrend. Dumped in despair several times. He must have understood at that point that his dumping was the problem, then offered the rest for 300. It was eaten after a few days.
The volume may be high, but by traders that sometimes sell, sometimes buy. If someone want in with a large number of fiat units, or out with a large number of coins, it moves the market. You can not stealth sell 30K+ coins in this market, even if 100K coins change hands in a day.
Conclusion: If you have 30K coins, you may think you are good for 10 mill USD, but you are not able to buy a 10 mill anything - yet.
why would he be an amateur?
he may be the smartest bitcoin hacker ( gox) ever?
cashing in because he can see it is going down for now,
He can see Bitcoin is not finished but why not take some profits ,we all do that,smart move perhaps
$10M ,thankyou
maybe
he bought it all back here?