Topic: Thoughts on price movement when Mtgox reopens. (Read 4358 times)
Also keep in min that Mt.Gox won't let even a verified user withdraw more than 100 BTC per 24 hour period. There's a whole lot of BTC stuck in there.
seen on flickr...
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I think this image is more suitable.
seen on flickr...
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Definitely down, because I bet the odds of them reopening when they say will be about 25%. This will only serve to shake confidence more.
Up in the longer term once a floor stabilizes.
Up in the longer term once a floor stabilizes.
Gox is signing up thousands of new members daily and they said over 20k the first few days of April.
It will go back up
It will go back up
The dead cat has bounced and already before the opening of MtGox coins are currently going DOWN hard. My guess is Gox will make them hit the floor. Going to visit below long term trendline ($40's?) and then stabilize to a calmer increase after a few weeks -> months.
Last time there was a major BTC meltdown due to their error, they reversed everything didn't they?
Yes. But that wasn't a real meltdown. Real BTC and $ weren't being exchanged.
Last time there was a major BTC meltdown due to their error, they reversed everything didn't they?
Last time, after they ended up being down for weeks, it actually wasn't that crazy when trading resumed. Everyone acted reasonably. But then slowly and surely over months the price went down until it bottomed out at $2.
It seems the general consensus is down, any suggestions on a time scale? A week, a month? Just curious as I will be able to start buying in a couple of days. This is just out of curiosity, I wont be acting on peoples predictions lol.
I think it will go down. I feel like this action, combined with the media flurry that's going to follow this action will result in a panic in many people.
One of the reasons (amongst others) that BTC has soared in price recently is due to lost confidence with banks and governments. The recent plunge in prices, ddos attacks, exchanges halting trades is going to result in a lot of lost confidence in bitcoin amongst the speculators and people who just jumped on in hopes to get rich quick.
I hope it doesnt happen, but if I had to get a guess (and I could be wrong) I think prices will drops. I don't see how any of this helps build confidence that bitcoin is a sound investment. These type of things simply dont happen in stable investments.
This reminds me of cyprus. Banks/government were worried about everyone taking their money out so they froze everyones account. Now mt. gox seems to be doing the same. Anytime somethings gets frozen in it's tracks it sends the message that people who have the power to do so aren't confident.
One of the reasons (amongst others) that BTC has soared in price recently is due to lost confidence with banks and governments. The recent plunge in prices, ddos attacks, exchanges halting trades is going to result in a lot of lost confidence in bitcoin amongst the speculators and people who just jumped on in hopes to get rich quick.
I hope it doesnt happen, but if I had to get a guess (and I could be wrong) I think prices will drops. I don't see how any of this helps build confidence that bitcoin is a sound investment. These type of things simply dont happen in stable investments.
This reminds me of cyprus. Banks/government were worried about everyone taking their money out so they froze everyones account. Now mt. gox seems to be doing the same. Anytime somethings gets frozen in it's tracks it sends the message that people who have the power to do so aren't confident.
What will it open at?
Gox has to rewrite its whole software, because this one was written by retards, and also had to make some kind of filters.
I think it will go a little down at first and then up again
I'm very confident it will go up very quickly. I'll be buying some BTC and watch it go up, and watch my profits.
There is nowhere to go but UP.
Mtgox has basically said, "Come get your money when we re-open".
The price will tank but will recover someday.
Depends on which side has more capital...
Newbies with their bitcoins vs enthusiasts with their dollars (or other currency)
My expectation is that the enthusiasts will buy all the available cheap bitcoins pretty quickly, and from there on, it will continue to rise again.
(I won't be involved in the trade either way)
Newbies with their bitcoins vs enthusiasts with their dollars (or other currency)
My expectation is that the enthusiasts will buy all the available cheap bitcoins pretty quickly, and from there on, it will continue to rise again.
(I won't be involved in the trade either way)
I'm glad they did close this so that everyone has time to become aware of the situation. BUT! Mt.Gox is not going to hold up when everyone gets on it at opening times. They need to use this time to get their shit together and handle this like a boss.
It'll fall pretty sharp as more people panic sell, then begin its treacherous climb back up to $250.
It will drop like a rock, i'm sure about that, but i don't see it climbing back to 250 any time soon, maybe back up to 50 in a few weeks, slowly.. Which is only good for price stability.
There is nowhere to go but UP. As soon as the demand for stability is answered then BOOM!!! EXPLOSION TO THE MOON! they may try to stop bitcoin but I will never let them hehe.
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