These askwalls and bidwalls seem far too high considering there's such low volume.
I wonder if this is a kind of DOS against Bitcoin itself.
Someone with enough USD and BTC on the exchanges could create an artificial situation like this and pull the plug either way whenever they feel like it.
This. These walls are way too coordinated.
Who would be selling right now, when Bitcoin is so obviously getting geared up to go?
So what are you guys suggesting the purpose and thus end result would be? Speculating of course.
My reason
was the conference. And it still kind of is related to it. My guess now is that Big Money works in groups, Big Money has friends. And their friends now see Bitcoin in the same light the rest of us do(at least profit-wise) - but they're not quite ready. They need to get some internal infrastructure ready for the conversion to Bitcoin. Also they might be waiting on Bitcoin exchange infrastructure to accommodate their level of planned buying; can current exchanges handle multiple buys of millions of dollars?(I am asking, I don't know) So they get back to their Big Money friends like "Yes, we get it now. We just need a few days to get everything in order. Please just hold the price for a short time, to stop a panic buy among current holders(and other companies), so we can start the real buying at these prices when we're ready." This would more than pay for the money their friends spent holding the price, at these volumes its just too easy for them.
My guess would be is that they know a gold rush is inevitable, and that it will be a race. Not everyone knows they are going to end up having to run in this race, but the ones who do want to have a stable starting line as they're walking up, so they can make sure to get their affairs in order without any kind of panic.
As in, this stability is the "take your marks" portion of the race.
I think theres some logic there. Stability was needed for more than one reason. I see it as perfectly reasoned for vested interest players to collude like this, and i dont see that as a negative thing right now.
Ok here goes another one.
Of course it is just a story, nothing to do with reality:
One bitcoin exchange has been playing around with the market for some time. When the system is being attacked by DOSs and even API is not working, the price is still moving and there are orders going on. Something like ("look here there is a market order for 10.000 $ and we have a terrible lag/DOSs. What would happen if this market order gets executed 30 seconds later ... we are being dossed after all ... I could buy a new plasma tv ...after all this is not a regulated exchange... it is nothing illegal .. there are no real world exchange procedures for outages)
Now they are being investigated and they have stopped playing with the market so it calm like a lake.
Another one:
There are so many bots around that speculation is being reduced to a minimum and so we are almost just moving at the range the comission allows where the bots cannot bite.
Or maybe:
Banksters have tried to reduce bitcoin impact and have realized that most of the actual market is just speculators and more speculators; there are some good ideas and some good business moving around but still the market is not mature at all and won't be for some years and the best way to avoid the news is to reduce the number os speculators reducing the benefits freezing the market: with a very low volume and people not getting impressed about fast and easy money bitcoin won't appear so frequently on the news.
Or perhaps.
The last DOS attacks by hackers with the horrible warrant and account closure news did not really work well for hackers/speculators, just a 5% movement after trying hard to manipulate the market for more than 5 hours. People just does not care anymore about Doss attacks, they just won't sell so cheap so hackers and that type of cheating-speculators have moved to other seas.
We don't know anything and we can just speculate, but after all this is the speculation thread...
