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Bull market here come!!

367 comments
87% Upvoted
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Oh hello rollercoaster guy! It's been a long time...

Yeah, I missed the BitCoaster Guy.

Thank you kind sir.

It's always something special happening when he appears in a sub.

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For the longest time, I've had the idea of mounting a framed picture of rollercoasterguy on a raspberry pi driven servo. That way the servo would rotate him up or down based on that day's bitcoin change.

I just need to get around to doing it.

redditor for 3 months
3 points · 2 months ago

I was thinking a car magnet of rollercoasterguy. Then it could be rotated to face up or down each morning depending on market conditions.

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I love the smell of FOMO in the morning.

I fomo'ed for sure. I don't even fight it anymore. Nore do I even care. All I know is I now own more bitcoin than I did yesterday!

redditor for 2 weeks
28 points · 2 months ago

Just beware because this looks like a pump, which will be followed by a dump. If you don’t sell before the dump, you’ve basically given money to the manipulators.

58 points · 2 months ago

And if you never sell, you take their money.

Doesn't matter to me. I'm a hodler. All that nonsense doesn't bother me. I own more bitcoin than I did yesterday. It's a win

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Comment deleted2 months ago

That's what I meant. You give them less of their depreciating fiat money for more real money (Bitcoin)

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yup, i bought at 6660 and just sold at 7960.

been waiting 11 days for it to sell

redditor for 2 weeks
6 points · 2 months ago

Nice profit

If they bought 5 bucks worth of bitcoin that's a profit of $0.97!!

redditor for 3 months
1 point · 2 months ago

5 bucks sounds too much for them!

That's pretty much the amount I trade with

In a couple more weeks, you'll regret selling so cheap.

Or you sell on the start of the way down and then it suddenly gets pumped again and you FOMO in at a loss. Thanks for the concern no-coiner!

redditor for 2 weeks
2 points · 2 months ago

You're welcome, bag-holder!

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redditor for 3 months
1 point · 2 months ago

How certain are you about the pump?

Not if you don’t sell at a loss. If it dumps and you didn’t sell yet, wait it out.

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redditor for 3 months
69 points · 2 months ago

Just topped 8k what the hell is going on?!!

120 points · 2 months ago

what the hell is going on

Exchanges manipulating markets to liquidate margins.

I know all the words you said individually, but don't quite understand what you are inferring with this particular combination. Can you elaborate?

redditor for 3 months
47 points · 2 months ago

A lot of people were "shorting" the market which means betting that BTC would go down. Margin trading is betting with partially borrowed money, like 2x up to 100x. That increases your volatility up to 100x. If BTC goes up $100 then you get $10k, but if it goes down a little, you will lose it all before the borrowed money comes into play. That is called being liquidated.

So you're saying they wanted to cash in on people with short positions (which I'm guessing the margins are borrowed from the exchanges themselves), but how would they actually manipulate the price to accomplish this?

buy a shit-ton of BTC, people get liquidated, sell that BTC. You net the same on the trade but you make the money on liquidating the bigger whale who was trading on margin

Ooh. That's pretty sneaky/clever/evil. I mean, I guess you should know what you are getting into when you are margin trading.

Comment deleted2 months ago
33 points · 2 months ago

Unregulated market. It's not illegal.

Comment deleted2 months ago

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redditor for 3 months
3 points · 2 months ago

I guess you should know what you’re getting into when you trade in unregulated markets. FTFY

3 points · 2 months ago

when they get liquidated while shorting, it means their coin is bought at marketprice and if everyone has the same liquidation price (average), it means the price goes crazy up because all market is bought until liquidation is done right ? and then u sell at the top ?

Yeah, something like that. Layman terms: the price will skyrocket in little time what's so-ever. Skyrocket: $400 or so spike up. Buy past the books, aka buy all the coin being sold at that time (let's say 100btc at 7k). Throw 200btc at that "wall" and you'll break it up and bring the sales up (as you push by automated sale bots at 1btc per $5+ increases at buys). On a good day (like this). People get hyped and buy into the upwards market. Then they sell the 200btc at a good buyback wall and the market falls by the days end; you see that same market drop in minutes, especially when growth is neutral/stagnant that day.

redditor for 3 months
7 points · 2 months ago

The borrowed money doesn't actually exist, the exchange is not lending it. The bets are sideline bets between two people - one long against one short. It is called a zero sum game since someone has to lose money in order for someone to make money. No BTC is actually bought or sold, they just settle the difference. The winner would not be the exchange other than fees, the real winner would be the whale manipulating the market to make money on his side betting.

3 points · 2 months ago · edited 2 months ago

They market buy spot. It's not exchanges that do it. Just people with deep pockets if the risk reward looks right.

If they drive the price high enough, shorts are forced to buy back higher, which can fuel the pump farther. Inverse can also happen to longs.

5 points · 2 months ago

It goes without saying that the whale is taking significant risk himself to do this since if the price doesn't go high enough, he may lose out. So yes, it's a calculated move based on risk vs reward. It paid off for him, so kudos. I wouldn't call it manipulation. It's part of the game.

Not really. The whale just needs to push it up till the shorts start liquidating. Its a snowball from there. Once it hits its peak the whale will sell it back down to just above his buy price. Done. Screwed many little guys and made a huge profit easy.

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Those kind of generic explanations are given whenever we don't know what's happening.

"money on the sideline" "demand outstrips supply"

redditor for 3 months
2 points · 2 months ago

You skimmed without reading. Sideline betting was a way of explaining futures trading. Sideline meaning cypto was neither bought or sold in the transaction. Nobody said the second one.

I concede

redditor for 3 months
3 points · 2 months ago

No problem.

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there was a bubble of shorts, it could only end with a crash

7 points · 2 months ago

Bitcoin is an INVERTED BUBBLE at the moment ! Called it !

Exchanges manipulating markets

How do you know? If that was a manipulation, pretty much everybody with enough money could do that.

If that was a manipulation, pretty much everybody with enough money could do that

..... Welcome to to stock market 101. That's why groups with shitload of money are always the ones who actually make money. The rest of us are just playing trying to guess what those guys are thinking and sometimes we get lucky.

No dispute here. I only argue with a weird assumption that exchanges are to blame

7 points · 2 months ago

For exchanges that let their costumers trade on margin, a sudden price jump in either direction is a guaranteed profit. There is some evidence that some echanges (cough bitfinex cough) use spoofing techniques, ie. create large fake buy/sell walls so people will think they can safely sell/buy on margin. Remove the wall, and optionally use some of the billions of fake dollars you have printed to move the price in the right direction, and voila, your very legitimate business made a shitload of cash from gullible fools. Rinse and repeat.

Welcome to the unregulated market.

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redditor for 2 weeks
7 points · 2 months ago

Manipulation. It’s called pump n dump.

10 points · 2 months ago

No, just an old fashioned short squeeze.

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Other way around. They have to buy back what they dumped. It will go on for at least a few more weeks.

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That dummy who's been dumping for the past three months has to buy back all the coins he borrowed. By my reckoning, he still has to buy back a lot more. We should see $10K again soon.

redditor for 3 months
1 point · 2 months ago

I really can't tell!

I would say people are finally getting their taxes done and don’t have IRS debt hanging over their heads anymore. I know I wasn’t in any big hurry.

Or people received their tax refunds.

Or the Chinese new year bonuses hit the Wall Street bank accounts.

In all reality, this is as clear cut market manipulation as anything.

The ride down was manipulation. This is what happens when you try to manipulate Bitcoin.

We'll be at a new all-time high by the time these guys finish covering their billion-dollar 3-month adventure in shorting Bitcoin.

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The hell. 1k jump? Lol.

redditor for 3 months
35 points · 2 months ago

I missed that gif holy shit.

redditor for 3 months
2 points · 2 months ago

after seeing this gif I smiled from bottom of my heart

redditor for 3 months
25 points · 2 months ago

I don’t get it. What the fuck happened?

Comment deleted2 months ago

How is trying to short call the largest short market in history manipulation? Did the buyer also somehow convince those users to short?

Every time the market moves is not manipulation. Every whale and every phantom order are not manipulation. Lets start using that word more appropriately to call out exchanges that enable wash trading and organized pump/dump groups.

5 points · 2 months ago

Every time the market moves is not manipulation.

Agreed. People have been conditioned and preached to believe that any market movement that goes against the little guys is market manipulation. Yes, a lot of little guys who had shorts open got margin called and were crushed today.

Some whale took a calculated risk in going against the market sentiment and it paid off for him. A lot of people have to lose money for a few to gain big. This is how margin trading works. It's stupid to call it manipulation.

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This is actually a good thing for bitcoin

lol

10 points · 2 months ago · edited 2 months ago

Market manipulation

It appears to be a substantial amount of liquidated shorts.

@BitmexRekt

2018-04-12 11:32 +00:00

Liquidated short on XBTUSD: Buy 9,984,230 @ 7650 💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯💯


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5 points · 2 months ago

Or big investors want the now cheaper coins.

A massive move like this liquidates a shit tonne of shorts at mex and finex. Big players pump the price and liquidation is the fuel that launmches the rocket. it will be sub 7k by the end of the week

7 points · 2 months ago · edited 2 months ago

Liquidation of shorts was one of the end goals of whoever pumped the price. Unless you clean out the shorters, it's difficult for the downtrend to reverse. It's overbought on all timeframes upto the 4H at the moment. So I imagine, there will be some selling off down to $7.2k levels followed by consolidation but IMO the purpose of the pump was achieved.

I bet we will be above 8k next week.

Left or right nut?

7 points · 2 months ago · edited 2 months ago

Eunuch

I'm curious: is this a misspelling of "eunuch" or just something I don't understand?

Nope. I just mispelled it. My bad.

It could be up or down eventually.

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3 points · 2 months ago

Doubt sub 7k. This squeeze was amplified by an already somewhat bullish sentiment and lack of supply at those low levels. A retrace back to 7500 would be pretty healthy, the higher above 7.5 it stays (if it does), the more bullish.

A lack of supply at those levels looks like the first visit we paid to 6K. Doesn't stay there long. There was plenty of supply under 7K this time around. Dunno why people are so bullish.

All that supply got slurped up quickly. That's why people are bullish. We'll be back over $10K shortly.

quickly....not sure if srs. Look at the last time we were down in 6.5K region vs this time. The first time was quickly like 5-10 minutes, this last time was days if not a week+...

This is 100% accurate

Comment deleted2 months ago
11 points · 2 months ago

Dude do you know how to read charts? BTC was getting squeezed inside a large symmetric triangle. So it had to break out violently in some direction and it did just that in the upward direction.

This is not market manipulation. Many traders including me had their conditional buy orders set above the breakout zone. Some whale obviously triggered the breakout with the initial push but after that those large number of conditional buy orders executed and this was followed by liquidation of a large number of shorts. Check out BTCUSD Shorts on Bitfinex which just collapsed as many people got margin called. Everything happened in unison and this caused the violent spike.

You have to remember that the liquidity in exchanges is miniscule compared to the circulating supply. So it doesn't require billions of dollars to pump the price by $1k in 30 minutes. I know conspiracy theories are fun and all but that's rarely the case.

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The volume spike is crazy.

Every single exchange I go to shows absolutely wild volume starting at the price spike this morning.

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29 points · 2 months ago

It's OK, that's totally organic growth.

Our previous assumptions of organic growth being smooth might not hold true while we're exposed to much larger markets (futures, ETFs, etc). Same goes for "organic" crashes, though.

3 points · 2 months ago

"Organic" big price drops are ok though?

redditor for 3 months
2 points · 2 months ago

The price drops are usually gradual declines. The increases are step functions.

Not of late.

Call me Kirby because I must've woken up in mortherfuckin dreamland.

This much excitement for BTC hitting 7.5k is not a good omen. A 10% bump, but still a 40% decline from a recent peak causing this much excitement is a bit scary imo.

Sorry

BTC seems to be following the natural order of things, which is increasing in value after I sell.

redditor for 7 weeks
6 points · 2 months ago

Hold onto your hats!

redditor for 3 months
39 points · 2 months ago

Just sold everything i bought the dip. It's a clear market manipulation.

Famous last words.

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11 points · 2 months ago

This guy knows what's up.

I uh, err. I totally sold everything too. Yay us. We won.

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37 points · 2 months ago

Everything at this screams trap

yup, inb4 waking up at 6700

[deleted]
13 points · 2 months ago

Single huge green candle? Some whale taking advantage of the lack of market depth to run stops. Slaughter the shorts. Suspect it will move sideways for a while, then we go back down to where it was on a single red candle to kill the fresh longs. We call this the "Bart Simpson" formation.

Correlation bots spread the move across the complex automatically. Ridiculous.

Need to kill off all the big frauds before thinking about diving back in.

Gonna eat the proverbial shorts for sure.

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[deleted]
5 points · 2 months ago

George Soros must have made his first trade.

redditor for 2 weeks
9 points · 2 months ago

Remember all the other times when yall niggas posted this shit? Yes, it crashed tf down. Don't upload this GIF until we're atleast at 13k..

No, it's totallly organic growth THIS TIME! To the moooooon

4 points · 2 months ago

Nothing but margin washing. Either an exchange or some whale that likes to see margin traders get rekt.

redditor for 3 months
3 points · 2 months ago

Well I accept bitcoin as a payment in my clothing store, so I don’t feel like fomed, just bought a little bit earlier.

Bull market won't start until over $12K

redditor for 3 months
13 points · 2 months ago

Iv just cum.

redditor for 3 months
5 points · 2 months ago · edited 2 months ago

From whence? Onto huhwhat?

Hopefully a shoe box.

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2 points · 2 months ago

Short for Ivan?

Short squeeze

bull market

redditor for 3 months
6 points · 2 months ago

Weeeeeeeeee

redditor for 3 months
2 points · 2 months ago

I've never seen that before. Haha thanks

I love this pic! <3

now don't go and get too excited...

redditor for 3 months
3 points · 2 months ago

It's funny because you can even turn around this gif in case it drops.

You obviously weren't here late last year/early this year

Hell if I trust that pump.

Just sold my BTC, thank me later.

Thank you.

7 points · 2 months ago

This guy took one for the team. Thank you.

redditor for 3 months
9 points · 2 months ago

sell more please

3 points · 2 months ago

Not for that old joke I won't.

sorry mate, I need that karma badly.

Missed this little guy.

Welcome back little guy!!!!!! We missed you..

Glad to see that GIF after a couple of months :D

Been such a long time since i saw this little guy!

The bear madr bitcoin jump by scaring him

Y’all buy buy buy, it’s about to skyrocket...

I know this because I just sold ALL of my BTC at $7,721 so that I can buy it back tomorrow morning at like $6,900.. Because that is my plan, the exact opposite will happen and it will be at $12K tomorrow morning..

If you don’t believe this will happen.. the price has already went up $130 since I sold mine 10 minutes ago.. happens every time.. every fucking time.

redditor for 6 weeks
2 points · 2 months ago

Your problem was selling all of it to do that

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Bull market trap here come!!

I hate how delusional this place is. Put the chart on weekly and zoom way out. There's going to be a long consolidation period before they next bull market.

Welcome back my man, been looking a bit down till now!

There's no volume. The move up was because of a thin order book. It's coming back down, we're still in a bear market.

Is this true I read the last 24 hours was the highest volume ever?

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4 points · 2 months ago

BULL TRAP ALERT!

redditor for 3 months
2 points · 2 months ago

Is this Real Life?

Last year's climb was real. :)

redditor for 3 months
2 points · 2 months ago

Is this just fantasy?

Yay! Here we go again!

Here we go again. Buckle up kiddos, it's gonna be a bumpy ride...

One way or another.

Looks like the fun has started again.

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But why?

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Well done sir. I was expecting this on the front page of /r/bitcoin, but didn't see it. Came back 5 minutes later and there it was.

redditor for a day
1 point · 2 months ago

thats true

Ahhh... Reminds me of the "old" days.

redditor for 3 months
1 point · 2 months ago

Salt isn’t bad, get with the times

Welcome to the new rollercoaster; this one was designed by a guy named soros.

Nobody big like that is using exchanges for big purchases in the millions of dollars. They would go through trading desks that get you the rate you want without shooting the market up on one exchange. Not that it still doesn't take away the available supply of coins, but its not going to make that kind of instant spike happen.

Fool

I would love to hear you elaborate on what I am wrong about. But I suspect your comment is in regards to me not being afraid of the mighty conspiracy theory lighting rod, Soros.

Edit: we all know that markets are manipulated, pretty much all markets are in some way. I just don't care for pointing at any weird movement and jumping to Soros, especially when Soros would not purchase through an exchange.

I entered crypto October last year, it has been hell of a ride

Aaaaand it’s gone:(

It’s upside down

loweffortpost

Yay!

redditor for 3 months
1 point · 2 months ago

Hmm, I know this gif.. bad, bad memories..

TL;DR. What's the price at these days?

redditor for 2 days
1 point · 2 months ago

Some of wall street can't be bothered to wait for the bridges to be built.

1 point · 2 months ago

We keep seeing these pumps but they keep failing to generate any real upward momentum. Then the buyers sell off a day or two later with whatever gains they have. It doesn't look like new money flowing in that's for sure.

redditor for 3 months
1 point · 2 months ago

This is the newsmaker of this hour. The Bitcoin flash bull run that within an hour it makes around 12% bull run and after a couple of minutes back to 7.7 Usd. What do you think contribute to this flash pump?

bull market ))) you are funny, i love it

Get ready to bring back the "it's over 9000" meme boys

Has to hold 7800, otherwise TTYL.

I've missed this meme

Manipulated market

FTFY

God damn it. I knew this meme was coming.

F**King shit again I missed 8k to sell it, going down now

ltc tanked in the same manner

redditor for 1 week
1 point · 2 months ago

It is probably only a short ride on the bull

So now every green day we get in this sea of red is the start if a bull market XD

Didn't I tell you? Lightning Network is now operational and the price is growing, easy.

redditor for 3 months
1 point · 2 months ago

yaaay the roller coaster dude is back and going in the best direction

Almost all studies about cost of mining overestimate the block reward. The first coin sellers of any new coins, typically miners, should have calculated the block reward in more business sense by their operation timespan plans.

Had to dust this one off

Boolean Coin, look it up, it's on the rise.

redditor for 3 months
1 point · 2 months ago

Maybe George Soros is dipping his toe in? That reptile broke the Pound in 1992. I hope he buys rather then shorts. He went up against one of the most valuable currencies in the world and made $1billion shorting it!

I missed you!

redditor for 3 months
1 point · 2 months ago

I remember this upside down not long ago, Hodl btc

Sure missed this little fella

redditor for 3 months
1 point · 2 months ago

It's too soon to say that

Btw, anyone knows why today's pump?

Nope, not yet. Pathetic permabulls gonna get rekt

Proofeading, there go

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