That is a wide range of interesting possibilities of what could happen
I think that mtgox news are not going to get better or if they do they will get worse shortly after; if mtgox goes under it is pretty safe to think that most probably btc price will go down in the short term but it may go up again sharply if we have the correct news and a positive sentiment in the community
Topic: BTC will plunge after the next MtGox move, either good or bad (Read 1475 times)
February 23, 2014, 03:00:09 PM
IMO when MtGox restores btc withdrawals, all the FUDsters shouting 'MtGox is insolvent get your USD out' will switch to shouting 'MtGox is insolvent get your BTC out'. People will panic and btc price on gox will sky rocket. Traders with big balls will start moving coins to gox to sell at a profit. Eventually the price will return to its relative position, slightly higher than other exchanges because of USD withdrawal delays.
February 23, 2014, 02:48:27 PM
This is why you should never sell your all coins.
If it goes UP, I will keep my bitcoins and buy some, If it goes down, keep my bitcoins and buy more bitcoins.
If it goes UP, I will keep my bitcoins and buy some, If it goes down, keep my bitcoins and buy more bitcoins.
This is exactly what I do. Best strategy, least amount of stress with daily fluctuations.
February 23, 2014, 12:28:17 PM
There is a good chance this will happen, but everything will settle within an hour while most of us are still asleep. When we wake up, prices across all major exchanges will be synced liked nothing had happened.
February 23, 2014, 12:18:53 PM
Before MtGox restore bitcoin withdrawals, insider whale will re-buy all cheap bitcoins and gox's price will be higher than on other exchanges.
February 23, 2014, 12:03:38 PM
Good, just buy in when you can and sell (or hold) when it goes back up, which it inevitably will.
February 23, 2014, 11:55:03 AM
It will only may have an impact if insiders free to move money and coins bought high amonts of BTCWho is so naive to belive that it not happened?
Who is the angel that would not takle this opportunity for himself, family and friends?
Who is the angel that would not takle this opportunity for himself, family and friends?
February 23, 2014, 11:54:58 AM
and what will happen to the price of btc if the MTgox got arrested for fraud ?
and if he admire the bankrupt do you think the japanese goverment is stupid to pay for mtgox debts and for his risky games ?
i think i's not a good time to buy or invest in bitcoin now .
im in the forex markets since 7 years and from my experience i can see the price is still going down
and even if gox gives the clients their money that will not remove the fear and the panic in the near future
especialy the panic of the large investors .
and if he admire the bankrupt do you think the japanese goverment is stupid to pay for mtgox debts and for his risky games ?
i think i's not a good time to buy or invest in bitcoin now .
im in the forex markets since 7 years and from my experience i can see the price is still going down
and even if gox gives the clients their money that will not remove the fear and the panic in the near future
especialy the panic of the large investors .
February 23, 2014, 09:51:47 AM
Another possibility:
- MTGOX management/insiders on purpose let people trade while withdrawals are closed
- They injected cash or just "printed" MtGOX USD/JPY or other fiat and purchased majority of coins available on GOX when the price was plunging
- Now they can restore withdrawals and HOLD their BTC until the price goes up significantly
- Assuming that the majority of coins are bought by insiders, other traders will be unable to move the price on other exchanges significantly as they got not enough BTC.
- MTGOX management/insiders on purpose let people trade while withdrawals are closed
- They injected cash or just "printed" MtGOX USD/JPY or other fiat and purchased majority of coins available on GOX when the price was plunging
- Now they can restore withdrawals and HOLD their BTC until the price goes up significantly
- Assuming that the majority of coins are bought by insiders, other traders will be unable to move the price on other exchanges significantly as they got not enough BTC.
February 23, 2014, 09:48:40 AM
I can't see it driving the price down. If anything, it'll drive new investments across all of the exchanges. More people will figure out that Bitcoin isn't as fragile as they were led to believe...
This is why you should never sell your all coins.
If it goes UP, I will keep my bitcoins and buy some, If it goes down, keep my bitcoins and buy more bitcoins.
A solid strategy If it goes UP, I will keep my bitcoins and buy some, If it goes down, keep my bitcoins and buy more bitcoins.
it should not have any impact out of gox 'cause if they are solvent they are not going to allow actual withdrawal, it will be very limited for a long time to avoid a run .. they already said that in other words. so in any case people won't their money or coins any soon.
This is why you should never sell your all coins.
If it goes UP, I will keep my bitcoins and buy some, If it goes down, keep my bitcoins and buy more bitcoins.
A solid strategy If it goes UP, I will keep my bitcoins and buy some, If it goes down, keep my bitcoins and buy more bitcoins.
if MtGox allow withdrawal again...
prices there will go back up very quickly, in an hour, or some.
Just on some rumors yesterday, btc went from 150 to 280 in an hour.
prices there will go back up very quickly, in an hour, or some.
Just on some rumors yesterday, btc went from 150 to 280 in an hour.
This is why you should never sell your all coins.
If it goes UP, I will keep my bitcoins and buy some, If it goes down, keep my bitcoins and buy more bitcoins.
If it goes UP, I will keep my bitcoins and buy some, If it goes down, keep my bitcoins and buy more bitcoins.
This possibility is already getting priced in
There is one more option.
Gox restores withdrawals, but imposes limits.
Then the reaction on other exchanges will be muted, but the downtrend may be longer.
Gox restores withdrawals, but imposes limits.
Then the reaction on other exchanges will be muted, but the downtrend may be longer.
Mtgox enable withdraws again, people realise they was stupid and sold all their bitcoins way to cheap. Fight over the cheap coins immediatly pushes the price on mtgox higher then the other exchanges ( since it still takes over a month to get out fiat, not to even talk about the US people). Making the other exchanges follow, albeit still at a lower price then mtgox.
Well, if MtGox allow withdrawal again, it will cause an arbitrage opportunity, that is known to lessen the gap between two marketplace, so the price on Mtgox will go up and it will go down on Stamp and other places.
If MtGox is insolvent, lot of people will have a doubt about the security of their investment and will withdraw cash, so the price on Stamp and other places will go down.
The only viable strategy for buying now on other places than MtGox is to hold, but why buy btc just now if you can gest them cheaper later, and you will, as soon as we'll be fixed on Mtgox fate.
So, people who are buying just now, what do you see that I don't ?
If MtGox is insolvent, lot of people will have a doubt about the security of their investment and will withdraw cash, so the price on Stamp and other places will go down.
The only viable strategy for buying now on other places than MtGox is to hold, but why buy btc just now if you can gest them cheaper later, and you will, as soon as we'll be fixed on Mtgox fate.
So, people who are buying just now, what do you see that I don't ?
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