Move the market

[homarus]

With income tax refunds arriving in the US, I started wondering what would happen if someone buys 100K of GLD (about $1000 USD).  Would one person lift the price?  10 people?  And would moving the market like this grab positive attention for Goldcoin?

[dustint]

i think the best thing for a higher long term price is a slow gradual uptrend.  Back in december with the huge spike in bitcoin along with most all altcoins is sure great for some higher pricing but you then can lose some of the community surrounding a coin because profits are so huge that people take them.  I think a slow uptrend is the best for a coin community.  I imagine with bitcoin a lot of people said they were going to hold them forever and all of a sudden it hit over $1000.  People can change their minds pretty quick when faced with that kind of profit.  I think Goldcoin is already gathering positive attention since it has held up over the last month compared to 95% of the alts on cryptsy.  You just have to check out the 1 month charts for any coin on cryptsy to see what i mean.  One day we will rise to the top but hopefully on a gradual rise with price support instead of a big spike.   

[Alpha]

Since the time Micro told us that a major holder had finished selling his coins the sell side has really thinned out.  At the same time there has been a person putting up buy orders 10K GLD at a time.  When it fills another one goes up.  IMO somebody has bought a pretty good chunk of coins over the past week.  Maybe even the same person that brought the market down here?  Like I said a week ago, sells are thin and some buyers could really boost the price in a hurry.

[dchoquette]

Yeah I am hoping Cryptsy gets their USD markets up soon.  Was thinking of doing some buying myself but I am not very interested buying bitcoin THEN trading it for GLD THEN trading some of that to further diversify. 

Things are definitely looking up though I think.

[sizzflair]

I wouldn't be surprised if that same person who sold millions of GLD is buying back again.  Buy low and sell high...

Whoever is buying though and keeping the GLD price afloat is putting a little bit of spotlight over GoldCoin, which is good.  Hopefully it invites some new investors to see GLD for what it can and will be, not just a pump and dump coin.

[Viscis]

With income tax refunds arriving in the US, I started wondering what would happen if someone buys 100K of GLD (about $1000 USD).  Would one person lift the price?  10 people?  And would moving the market like this grab positive attention for Goldcoin?

It would inflate the price  but the market will correct it because I'm sure lots of people would see the spike and start selling. You might also get people placing other "buys" as well to inflate the price even more and then dumping at the peak. As others have said its far better to have a gradual growth.