1. Purposely raise the price of BTC, attract traders come to Mt.gox and deposit BTC. Market situation: Sell >> buy;
2. Block cash withdrawing, most of traders found it's not easy to get out money even they can sell BTC with higher price.;
3. Some of traders will buy back BTC, sell == buy, price was going stable and higher than other exchange markets;
4. Mt.gox sold customer's 40,000 BTC, and block withdrawing BTC;
5. The price of BTC dropped accordingly
6. Mt.gox to open cash withdrawing and continue to block BTC withdrawing, traders will trend to sell BTC by lower price and get cash back;
7. Mt.gox will buy back 40,000 BTC to balance account
It's not surprised to see announcement tomorrow: BTC withdrawing will continue stopped but cash withdrawing will be quickly and smoothly
So did you sign up just to spread FUD?
+1
looks like true
You might be right. I take back my FUD accusation lol.
Next time u know not to blame the messenger.. they are forcing price down,.. but only on mtgox any other exchange provides a buying opportunity since they are unaffected.. 40k btc already sold now they need to buy 40k btc at lower prices.. now mtgox price shouldnt be correlated with the market anymore.. until they open btc withdrawls again.
Can backfire if changes are pushed and they dont get a chance to buy lower. But maybe they already did via btce and if true we see price staying stable or rising as mtgox becomes a bidder.
