Unfortunately there is nothing to watch. Ask sums is constantly being push back to 50k. Every time it goes over; market orders fix that. And whenever it goes under... the price recedes back under 140 and they pop up again.
Bid sum is also pretty stable in the 12-14m range. (Last 4 days all about $1.35m, 50k asks)
Something has to give. Unless bitcoin market is going back in to dormancy. Thats not any fun!
If Gox withdrawals arent fixed, price will rocket up. If they are, total collapse.. yeah?
Bid sum is also pretty stable in the 12-14m range. (Last 4 days all about $1.35m, 50k asks)
Something has to give. Unless bitcoin market is going back in to dormancy. Thats not any fun!
If Gox withdrawals arent fixed, price will rocket up. If they are, total collapse.. yeah?
If Gox withdrawals aren't fixed Gox will become irrelevant at some point and Bitstamp will be leading the price. We already see market depth increasing fast at Bitstamp; in just one week bid depth increased from 1.5M to 2.3M. Within 1-2 months from now it will overtake MtGox and these withdrawal problems will no longer distort the market. Only the fiat bag holders on MtGox will keep on insisting that this is a disaster for bitcoin in the hopes of crashing the price so they can buy their way out of Gox.
The other option is that Gox fixes their shit, and in that case coins will flow back to Gox but I don't believe we'll see any kind of crash then either. When too many people expect something you can be pretty sure it won't happen.
I have that line, embroidered and framed, hanging right over my bed.
To many people here expect BTC to be worth thousands.
Emm... What?
That might be a popular opinion on this forum, but it's certainly not mainstream otherwise.
1. Expansion of the Bitcoin protocol as a system of payment
2. Devaluation of Fiat currency by central banks
There is also a bear argument, but being a bull I will not repeat such rubbish!
