In a market that is even slightly mature whenever the situation doesn't change and the price goes down the panic will be in the direction of buying before the price goes back.
Lower price on exactly the same thing means a better deal.
It wasn't like that years ago because everyone (obv not everyone) was like "This is Bitcoin and I don't even- OMG maybe it's broken or something- SELL".
Topic: why did the 12k+ coin dump not create panic? (Read 1557 times)
Also, the order books are now much more packed then 1 year ago. 130k USD worth of a dump only creates half the pressure it would have 1 year ago. In other words, this "dump" was way too small to induce panic. Maybe 30k BTC on MtGox would have, though.
Only 12k? There was a 1k dump on intersango's euro exchange and more than 0.4k on bitcoin.de. Most other currencies and exchanges got a piece of the action which suggests that 12k is a fair bit south of the real figure.
yes it was more like 3 10k dumps so a total of 30k. I'm guessing no panic because no bad news and a lot of good... who cares if some bear wants out?
it seems every-time we have a dump, the price recovers quickly. ( its been happening all year really... )
Because we are now almost 4 years old. One doesn't panic that easily any more at such old age.
Because nobody really cares, panic is FUD and not necessary for a healthy economy
FYI: mark the date here Bitcoin $20 soon.
It appears the same bot was activated like what was happening a couple of months ago (what I called the "rally bot.") It seems to be activated after a certain amount of time after a dump, making sure we go to the same price as before. The purpose is not clear.
it seems every-time we have a dump, the price recovers quickly. ( its been happening all year really... )
Speculate!
Speculate!
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