So does this mean even more decrease in the price if they find some ill advised exchanges being done during these inspections?
I thought they were going to start them in a week. This is not so good with the hammering the price took yesterday.
Price will find its own way. The site inspection started yesterday.I thought they were going to start them in a week. This is not so good with the hammering the price took yesterday.
This could explain the last drop. But I definitely agree that the price will find its own way. Many had a good chance to jump off the train with a bag full of profit and they did. We go in cycles, if we do understand this that's enough.
Those of us see the true bitcoin potential will stay here as long as it takes.
I also agree that the price will find its own way. This is likely the reason for the recent drop and as this shakes out there should be a new normal. Frequent "inspections" to these exchanges won't help much with PR for bitcoin, especially in China, but bitcoin always recovers from PR issues. I am grabbing more on this recent downtrend.
