C'mon... all Street would be dumb to share the profits with you all at this point. What is going to happen is this... they will keep dumping and manipulating until the leveraged longs get wiped out. There will be a cascade. Many long-time players will fold. They'll buy a ton up cheap. Then they'll work the price up to about $1000... people will pop in out of the wood work, again... then Wall Street will steal their lunch money again. Rinse and repeat. This is merely a more volatile microcosm of the larger system now.
A fair price minus all of the bull---- is probably about $575 to $650, but games will be played. Get ready to catch some coins at $200 and don't let these rich bastards take all of your lunch money.
In general, I think you are right, however:
Everytime I talk to people about btc, their biggest smug smiles comes when they say, "Oh, and it is only half the price it was last year, right? All those people lost money, right? Right?" Well, yeah, they are down 50%. Yeah, they lost money. Yeah, the price is still dropping.
If Wall Street comes in and crashes the price, it will do serious damage to the future of btc. They will have to moderate their short term greed in order to make more money later. I am not sure they know how to moderate their greed, but I hope they learn.
This is a wonderful point. If they were wise they'd let it flourish so that they could reap greater profits later. This is especially so because if people start to think the game is rigged and that they are playing against the house then there are fewer counterparties for Wall Street to play against.
That said, I think that they see this as their time to make profits -- they see the expansion of too many Altcoins diluting the field, the potential for dumps, the carelessness of attracting retailers without working out how they would exit those positions (they should have set as a standard the issuing of BTC to employees... get more mainstream adoption and fewer price dumps), and the flood of new regulations (Lawsky is the tip of the iceberg and CFPB is a bad omen).
I still think we are oversold if this is a straight market, but what I actually expect to happen is for Wall Street to rip out what they can now while they still know they can rip something out of it. Maybe I am too much the pessimist.
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