Topic: Thoughts on price movement when Mtgox reopens. - page 2. (Read 4322 times)
It'll fall pretty sharp as more people panic sell, then begin its treacherous climb back up to $250.
Can you still withdraw btc from gox during the outage? :?
If so, then yeah, your logic makes sense.
If so, then yeah, your logic makes sense.
I think they will resume trading and then have to shut down again.
As for price, no way for a big price rise - sideways or down is my bet - especially if the trading lag kicks in again. This is going to get worse before it gets better. Someone needs to replace MtGox and quickly else we'll be back down to $10
As for price, no way for a big price rise - sideways or down is my bet - especially if the trading lag kicks in again. This is going to get worse before it gets better. Someone needs to replace MtGox and quickly else we'll be back down to $10
I have no idea, however after the NYSE in the US was closed from 9/11 to 9/17/2001, the markets fell about 7% on the open. I think whichever way BTC<->USD (or other fiat) goes after the open, it will be larger than 7%.
Your logic below makes some good sense by the way.
Your logic below makes some good sense by the way.
We are now 3+ hours into the Mtgox 12 hour trading outage and I'm sure everyone is wondering where the price will go when trading resumes.
I think the price will rise and here's why:
If you are anxious to SELL right at this moment; you can open an account with another exchange right away, transfer your coin within an hour and sell them.
If you are anxious to BUY right at this moment; you can open an account with another exchange, but due to the delays in transferring fiat you have no ability to get your funds into that account within the 12 hour window.
Also, presumably, there is a lot of fiat tied up in Mtgox accounts during the outage that is/was intended to be used to buy more coin.
The conclusion being that the ability to buy during the outage is limited whereas the ability to sell is not.
If the above reasoning is accurate, then it seems to me that buying pressure is now suppressed. When trading resumes, that released pressure should push the price higher.
Thoughts?
I think the price will rise and here's why:
If you are anxious to SELL right at this moment; you can open an account with another exchange right away, transfer your coin within an hour and sell them.
If you are anxious to BUY right at this moment; you can open an account with another exchange, but due to the delays in transferring fiat you have no ability to get your funds into that account within the 12 hour window.
Also, presumably, there is a lot of fiat tied up in Mtgox accounts during the outage that is/was intended to be used to buy more coin.
The conclusion being that the ability to buy during the outage is limited whereas the ability to sell is not.
If the above reasoning is accurate, then it seems to me that buying pressure is now suppressed. When trading resumes, that released pressure should push the price higher.
Thoughts?
seems legit basis
BUY
BUY
We are now 3+ hours into the Mtgox 12 hour trading outage and I'm sure everyone is wondering where the price will go when trading resumes.
I think the price will rise and here's why:
If you are anxious to SELL right at this moment; you can open an account with another exchange right away, transfer your coin within an hour and sell them.
If you are anxious to BUY right at this moment; you can open an account with another exchange, but due to the delays in transferring fiat you have no ability to get your funds into that account within the 12 hour window.
Also, presumably, there is a lot of fiat tied up in Mtgox accounts during the outage that is/was intended to be used to buy more coin.
The conclusion being that the ability to buy during the outage is limited whereas the ability to sell is not.
If the above reasoning is accurate, then it seems to me that buying pressure is now suppressed. When trading resumes, that released pressure should push the price higher.
Thoughts?
I think the price will rise and here's why:
If you are anxious to SELL right at this moment; you can open an account with another exchange right away, transfer your coin within an hour and sell them.
If you are anxious to BUY right at this moment; you can open an account with another exchange, but due to the delays in transferring fiat you have no ability to get your funds into that account within the 12 hour window.
Also, presumably, there is a lot of fiat tied up in Mtgox accounts during the outage that is/was intended to be used to buy more coin.
The conclusion being that the ability to buy during the outage is limited whereas the ability to sell is not.
If the above reasoning is accurate, then it seems to me that buying pressure is now suppressed. When trading resumes, that released pressure should push the price higher.
Thoughts?
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