so 850 is the new floor imo.
We saw total panic tonight and yet once we approached 850 buyers started perking up.
We saw total panic tonight and yet once we approached 850 buyers started perking up.
LOL approached 850?
Don't you mean after we got spat out of a gox failsafe loop for an hour which blocked any trading below $829? It's worth noting ever other exchange sat frozen for half an hour waiting for gox to take the lead again before making any moves back up.
poeple were trading........
It completely killed the momentum of the dip, who knows where gox would have stopped, it was certainly headed for 700.
but the deeper it falls the harder its bounces back.
stop thinking of what could have been.
How many times does Bitstamp need to bounce from 0.800 before people realize it's the new floor?
Every bounce (3 so far) adds to the strength of the support, and it is already in the Titanium level, comparable to molecular's left nut. Buying at 0.800 is better EV than buying at 1.000. From 1 it can go either way, but from 0.800 it always goes up, and the 10% probability not included in "always" is only that it will dip to 0.6 for a few hours. Nothing to be scared of.
