EDIT: I'm sorry, the original title of this thread was misleading. I didn't know tomorrow is a holiday in Cyprus. It looks like the banks will reopen Tuesday. I edited the title and the post to reflect this. That said...
The banks in Cyprus probably open on Tuesday.
Quick background: We have had a huge BTC boom over the past week or so, and many people think the boom is a run up in anticipation of this event. Many of the big depositors in Cyprus won't be able to get at their money, and the smaller depositors are going to have to deal with withdrawal restrictions and difficult international transfers. That said, many people are hoping that Cypriots will probably start buying bitcoins as soon as they can, which will hopefully happen on Tuesday.
The million BTC question: What does this mean for the value of bitcoin on the exchanges on Tuesday?
- Up, vindicating the investors who were buying for the past week or so?
- Down, when everybody is let down when nobody on Cyprus buys bitcoins for whatever reason?
- No change? That would mean that the current run continues, unaffected either way, drawing questions about what is causing the run up in the BTC price.
Sure, making predictions like this right before the big event can make you look stupid... or it can make you look like a genius.
Care to try your luck?
