We're at around 50 Euros on Bitcoin24 now. What do you expect to happen when gox opens? People will hit sell hoping to get a few of the still standing bids with their coins first and it will crash like a stone dropped from a cliff.
Gox closing doesn't seem to help. Some resistance at 100$ could have formed there, this last chance was lost.
Gox closing doesn't seem to help. Some resistance at 100$ could have formed there, this last chance was lost.
Noob,
PPL have been selling btc to a very limited pool of fiat. Look at the market depth on MtGox. There are far more fiat to sustain price of 150.
My guess? as soon as MtGox open, those that bought cheap coins from other exchanges will dump their coins to strong hands on Gox and not moving an inch.
It's true, it will be a good buying opportunity, as are the dipping prices on other exchanges. Buy a couple their, sell them on mtgox into the strong hands that aren't panicing.
These people are already balls deep in bitcoin. Do your own analysis and don't trust a word told to you, nobody really knows anything for sure. It is equally possible that large holders have moved a small portion of their holdings to these tiny markets in order to control the price.
LOL try to move any fiat funds between exchange see how that works out for you.
The other exchanges usually have more than just btc. It should be easy enough for someone to exchange to litecoin or some such currency then start buying, if they have the brain for it. & These exchanges already service some large holders- in that case the logic of price propping is the same, and the problem of balance transfers non-existent.
