It's going down obviously.
1. The people that were buying are now selling.
2. The people that are holding aren't doing anything.
3. People are cashing out, and by that I mean selling and withdrawing the fiat straight to their bank accounts.
From the moment Gox opens the trend is downwards. It's just going to create more panic, more fear, and ultimately lead to a drop to <$50 maybe even <$30.
Let's just add in to the mix the possibility of something else going horribly wrong, oh I don't know lets just say one of the other exchanges got hacked as is a common occurrence in Bitcoins history. With the right variables we could even go <$10.
Topic: How will market react when MtGox reopens trade? - page 4. (Read 8747 times)
IMO situation is quite clear at the moment: very easy to move coins from exchange to exchange, not so easy to prompt move fiat, therefore price is likely to go down while Gox is closed.
How do you think the market react when Gox opens again?
Super deep flash crash and then recovery?
Bear market with long and continued decline like in 2011?
Fast recovery?
Where are you seeing support and resistance short and mid term?
Place your bets gentlemen.
How do you think the market react when Gox opens again?
Super deep flash crash and then recovery?
Bear market with long and continued decline like in 2011?
Fast recovery?
Where are you seeing support and resistance short and mid term?
Place your bets gentlemen.
Simple. MtGox will prove itself why its the leading exchange. It hold the largest (by far margin) fiat pool.
Coins from other exchange will pour in and increase MtGox trade volume to record high.
Other exchange? shoot themself in the head.
You said this in the Wall observer thread as well, however I'm not sure if you're saying that the price will drop or increase. I only hear talks about volume, and it's obvious that the volume will reach record high, especially with the 48 hours of no fee.. I'm wondering íf Gox can even handle the amount of trades that will cause..
Guess where those fiats are from selling btc at 200? 160?....
The price goes up.
You have the right thought, easy to sell BTC but HARD to buy BTC. ie. Say I have 250,000 that I want to commit to BTC as an investment (about the cost of 10 Avalons in the aftermarket), how can I put it to work? I cannot. If you add the volume of these "exchanges", it is a JOKE. Do not forget they double count (one trade is a buy AND a sell so true amount bought is less than half (even lower when you pull out the day traders). With $250,000 you could dominate the buy side of all these exchanges and smash through all the offers.
If I could buy a lot of BTC I would.
You have the right thought, easy to sell BTC but HARD to buy BTC. ie. Say I have 250,000 that I want to commit to BTC as an investment (about the cost of 10 Avalons in the aftermarket), how can I put it to work? I cannot. If you add the volume of these "exchanges", it is a JOKE. Do not forget they double count (one trade is a buy AND a sell so true amount bought is less than half (even lower when you pull out the day traders). With $250,000 you could dominate the buy side of all these exchanges and smash through all the offers.
If I could buy a lot of BTC I would.
IMO situation is quite clear at the moment: very easy to move coins from exchange to exchange, not so easy to prompt move fiat, therefore price is likely to go down while Gox is closed.
How do you think the market react when Gox opens again?
Super deep flash crash and then recovery?
Bear market with long and continued decline like in 2011?
Fast recovery?
Where are you seeing support and resistance short and mid term?
Place your bets gentlemen.
How do you think the market react when Gox opens again?
Super deep flash crash and then recovery?
Bear market with long and continued decline like in 2011?
Fast recovery?
Where are you seeing support and resistance short and mid term?
Place your bets gentlemen.
Simple. MtGox will prove itself why its the leading exchange. It hold the largest (by far margin) fiat pool.
Coins from other exchange will pour in and increase MtGox trade volume to record high.
Other exchange? shoot themself in the head.
You said this in the Wall observer thread as well, however I'm not sure if you're saying that the price will drop or increase. I only hear talks about volume, and it's obvious that the volume will reach record high, especially with the 48 hours of no fee.. I'm wondering íf Gox can even handle the amount of trades that will cause..
IMO situation is quite clear at the moment: very easy to move coins from exchange to exchange, not so easy to prompt move fiat, therefore price is likely to go down while Gox is closed.
How do you think the market react when Gox opens again?
Super deep flash crash and then recovery?
Bear market with long and continued decline like in 2011?
Fast recovery?
Where are you seeing support and resistance short and mid term?
Place your bets gentlemen.
How do you think the market react when Gox opens again?
Super deep flash crash and then recovery?
Bear market with long and continued decline like in 2011?
Fast recovery?
Where are you seeing support and resistance short and mid term?
Place your bets gentlemen.
1) Not a very deep crash, they ( Mt. Gox ) were hacked yesterday. The price rebounded $23 dollars almost immediately.
2) No, value is on the way up, thanks to new ( and different ) support and indestructible bitcoin
3) Sure
4) Negative people are trolling out there and they will be the drag down in the price. Support comes from those who are the "financial elite" (https://bitcointalksearch.org/topic/i-am-pretty-confident-we-are-the-new-wealthy-elite-gentlemen-12156)
IMO situation is quite clear at the moment: very easy to move coins from exchange to exchange, not so easy to prompt move fiat, therefore price is likely to go down while Gox is closed.
How do you think the market react when Gox opens again?
Super deep flash crash and then recovery?
Bear market with long and continued decline like in 2011?
Fast recovery?
Where are you seeing support and resistance short and mid term?
Place your bets gentlemen.
How do you think the market react when Gox opens again?
Super deep flash crash and then recovery?
Bear market with long and continued decline like in 2011?
Fast recovery?
Where are you seeing support and resistance short and mid term?
Place your bets gentlemen.
Simple. MtGox will prove itself why its the leading exchange. It hold the largest (by far margin) fiat pool.
Coins from other exchange will pour in and increase MtGox trade volume to record high.
Other exchange? shoot themself in the head.
Yeah, but you did not answer my question. How will the market price react?
Hopefully they just decided to go ahead and roll out the new trade engine. If they did, hopefully it was competently built and tested and the lag will disappear. If they are sticking to their original release date for the new engine and are just hacking together a bandaid for the old system, expect chaos.
IMO situation is quite clear at the moment: very easy to move coins from exchange to exchange, not so easy to prompt move fiat, therefore price is likely to go down while Gox is closed.
How do you think the market react when Gox opens again?
Super deep flash crash and then recovery?
Bear market with long and continued decline like in 2011?
Fast recovery?
Where are you seeing support and resistance short and mid term?
Place your bets gentlemen.
How do you think the market react when Gox opens again?
Super deep flash crash and then recovery?
Bear market with long and continued decline like in 2011?
Fast recovery?
Where are you seeing support and resistance short and mid term?
Place your bets gentlemen.
Simple. MtGox will prove itself why its the leading exchange. It hold the largest (by far margin) fiat pool.
Coins from other exchange will pour in and increase MtGox trade volume to record high.
Other exchange? shoot themself in the head.
IMO situation is quite clear at the moment: very easy to move coins from exchange to exchange, not so easy to promptly move fiat, therefore price is likely to go down while Gox is closed.
How do you think the market react when Gox opens again?
Super deep flash crash and then recovery?
Bear market with long and continued decline like in 2011?
Fast recovery?
Where are you seeing support and resistance short and mid term?
Place your bets gentlemen.
How do you think the market react when Gox opens again?
Super deep flash crash and then recovery?
Bear market with long and continued decline like in 2011?
Fast recovery?
Where are you seeing support and resistance short and mid term?
Place your bets gentlemen.
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