Bitcoin panic sell from $150 to $120, ddos attacks, and malicious trading bots!

Hello everyone,

Firstly I want to begin with the yesterday hack of bitcoin-central.net, and as you can see in their update "A few hundred Bitcoins have been stolen" from their "hot wallet". Nevertheless bitcoin-central.net announced "We will cover 100% of the theft."

bitcoin-central.net hacked update

The question is, did this had anything to do with the panic sell of BTC/USD at around $148 till $120? Did the hackers DDoSed both MtGox and BTC-e and other exchanges to cause panic to the traders and cause this hysteric sell-off? 

As you can see in the following picture, bots are trading back and forth in order to cause lag and panic. The amount of BTC in the screenshot starts from 0.0072 till it reaches 0.0059 due to fees. I saw this happening in front of my eyes and this continued until this trade reached 0 BTC. The lag was enormous and reached 2 minutes and 55 seconds, but unfortunately i don't have any screenshot of this.  

Reddit Post About This Trade

Furthermore from btc-e.com we had a weird behavior of the most well known chat in the history of bitcoin, the "trollbox", were thousands of traders meet to exchange knowledge on the theme of bitcoin, mostly causing panic in one another and usually loosing money from time after time. A small exception to this is that "trollbox" includes well known sophisticated traders that try in vain to calm people down. 

"Trollbox" got stuck and didn't autorefresh causing even more panic, trolling, hysteria and laugh. 

trollboxarchive.com about stuck trollbox

To conclude with this blogpost, from my part I can say that I was expecting a normal correction of the price but unfortunately we had this panic selling due to the events above. Panic selling is bad for any market, but it seems BTC is recovering very quickly. You can read a good article from thegenesisblock.com analyzing: H&S Pattern Dissolves, Expected Retest and Drop Realized



~Source~
trollboxarchive.com
bitcoin-archive.com
thegenesisblock.com
bitcoin.clarkmoody.com
reddit.com

PayPal's president, David Marcus, says that they're considering adding Bitcoin as a funding instrument!

David Marcus, president of EBay Inc.'s PayPal unit was on Bloomberg at 24 Apr 2013 where he said: 
And I think here, for us at PayPapl, it's just a question of whether Bitcoin will make its way to PayPal's funding instrument or not, and we're kind of thinking about it right now. 

President Of Paypal, David Marcus, On Bloomberg

Check out the following link to watch the video: http://bloom.bg/17hYhc1

The implementation of Bitcoin into Paypal and Ebay will certainly boost the price of Bitcoin. 

After those news Bitcoin rallied up to $166 continuing its bullish uptrend. Its notorious volatility dropped it down again at about $141 and finally it trends around $156.

MtGox BTC/USD, M15, bitcoin.clarkmoody.com

~~Source~~
bitcoin.clarkmoody.com
www.bloomberg.com

Bitcoin from 63$ to 120$

Bitcoin is finally in a mid-term up trend from 17th Apr 2013 and it is now trending at about 120$ forming a high at about 136$ @ Friday 19 Apr 2013.

I always feel good when a Friday uptrend happens in a stock or maybe a currency. That mostly means that people trust their money on that stock or on that currency during the Weekend and are not worried for a Black Monday.


I estimate that during the weekend BTC/USD will continue this steady 120$ behaviour until maybe Monday morning that it will continue its uptrend. 

MtGox USD, H1, bitcoin.clarkmoody.com

I found this Video, that is mostly sound, on Financial War Reports and I think it is good to post it here just for you to listen while you trade. I think it is really interesting and good to know.

Have a nice weekend :)

~~Source~~
Clarkmoody
Financial War Reports
The Still Report

Keiser Report : Magic of Bitcoin Gathering E432

Keiser Report: Magic of Bitcoin Gathering (E432)






In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the role of market making in the orderly functioning of markets which explains the disorderly functioning of Mt.Gox, an exchange missing the vital market making function. They also discuss the virtual specialist technology, payments systems and DDoS attacks. In the second half of the show, Max Keiser talks to Tony Gallippi of Bitpay.com about money in the cloud and bitcoin in transactions.


Source: http://goo.gl/JJfK5

Boston bombings affects Bitcoin

Boston bombings apply more pressure at the Bitcoin downtrend. 

MtGox USD, H1, bitcoin.clarkmoody.com

MtGox USD, M15, bitcoin.clarkmoody.com

Still no signs of who is behind this attack at Boston. 

"Chaotic scenes as authorities tend to the injured in Boston, where two mystery explosions went off at the end of the Boston Marathon." Photo:AP

BTC/USD downtrend continues. This downfall also affects other Cryptocoins too. 

Is Bitcoin going to make it? 

~~Source~~

bitcoin.clarkmoody.com

http://www.smh.com.au

Bitcoin analysis and other cryptocoin behaviour.

Hello everyone,

Before I get to the main point I would like to make some comments on the Bitcoin chart based on the hourly trades of MtGox.com 

Lot of people fear that Bitcoin is now on a downtrend and that BTC/USD will soon collapse to zero.
That is completely wrong. It is mostly obvious that big players have now entered the game and that they are pushing the market down in order to make the small fish panic and let any cargo of bitcoins go into the mouth of the big sharks like themselves.

MtGox BTC/USD, H1 - bitcoin.clarkmoody.com - 2013/04/12 to 2013/04/15

Red arrows indicate the violent and strategic push of Bitcoin downwards as blue arrows indicate a smart and steady gathering of bitcoins from small and panicked traders. This downtrend will continue until a vast gathering of Bitcoins is made and then the value of BTC/USD will explode again once more making the Bitcoin yet another opportunity and forcing small traders to enter at higher and higher prices. 

Thus I strongly suggest that if you are an easy shaken trader holding a small portfolio, consider yourselves the option of buying an alternative Cryptocurrency.  

LTC/BTC

Litecoin has gained its position as the second most famous Coin after Bitcoin. Some analyst say that smaller waiting times and faster transactions might help this cryptocurrency pass Bitcoin in the long run. 

After 12 Apr 2013 and the stabilization of BitCoin causes Litecoin to wake up once more and jump up close to its old values @ 0.030BTC. The same awakening happens to about all other Cryptocoins and they stay unaffected from BTC/USD downtrend.

LTC/USD

The devaluation of Litecoin against USD caused by panic due to the mass sell-off Bitcoin has entered a halt. Mostly humble and stable, the Litecoin is gaining once more value against the USD.

NMC/BTC

Namecoin is also taking value against BTC.

PPC/BTC

Peer to Peer Coin also stays unaffected. My personal favourite after Litecoin.

TRC/BTC

Terra Coin wakes up once again. An interesting Cryptocurrency too.

Finally I would like to add that this upper trend of the other cryptocoins suggests a reserve power in the strength and value of the Bitcoin itself, because those coins are mostly traded for Bitcoin than other valuable things from the open market like Bitcoin does. As I mentioned BTC/USD will continue on this forced downtrend until the most of the small traders are gone. Are you going to stay out?

~~Source of Charts~~
http://bitcoin.clarkmoody.com/
http://www.cryptocoincharts.info

Wall Street Mafia VS Max Keiser

Wall Street Mafia Extorts Washington | Interview with Max Keiser



Source: breakingtheset

Max Keiser - Bitcoin London 2012

Max Keiser speaks "On Corporations and the American School of Economics", at London Bitcoin Conference 2012.

Source: queuepolitely

Keiser Report - E431

Keiser Report: Bitcoin Bubble Buzz (E431)



Source: Russia Today

Richard Stallman - Bitcoin London 2012

Richard Stallman's talk on "Digital Freedom: the context for Bitcoin" at the London Bitcoin Conference 2012.

Source: queuepolitely