Gold is down, equities are stabilizing.
Bitcoin is heading south for the winter. I predict $9.50 by the end of the day.
Nice volume at Mtgox. Good to see bitcoin actually being used for something.
Gold was due for a hefty drop. Nothing surprising there except the price is still too high.
Stocks.. well the economy is not exactly humming along in all sectors. To be expected.
As for bitcoin, what I want to figure out is where I should buy back in. $9.50 does not appeal
to me at all. $8.00 sounds better to me if I decided to buy back in or just transfer my USD out
to do other things with it. Mining will quickly add more USD back in, in a couple of weeks.
I'm ready for 7-8 again.
random theory time! I had a similar theory when the rally pushed us to 12 the upper resistance, trying to get people to panic buy, since if it passed that range it could have went to 16 quicky, but it held, and the potential manipulator failed,(or not
)
what if this is the reverse, the bot's 1000's of trades cueing everyone else's orders, was to glog things up to stop buyers, deliberately to get the price down close to a psychological barrier thinking people will panic sell, and he could accumulate at 10, and the market would go back up after, possibly causing people to think this is as cheap as they are going to get causing panic buying, maybe getting to 16's, somebody keeps putting buy's in at 10.01 ect in the 500 btc range, when they sell, he put's more back just a fraction over 10, but not adding to the 10 wall so keeping the fear going.
professional traders don't mess about, it's not a game, our inexperienced traders in an unregulated market must be christmas every day for them
just a theory remember
