If the trustees of the Mt. Gox confiscated funds try to sell a shit ton of bitcoins again, I will not be surprised if the price drops back again to those lows. However, I am very optimistic that once they run out of bitcoins to sell then the price would likely shoot back up since there won't be any more pressure to the demand for bitcoins. But, I believe they have not even sold half of the bitcoins they have so we might still see a bumpy ride for the whole year.
The trustee is done selling for now, it's not yet been decided what will happen to the rest of the coins. So for at least the next 4 months or so we do not need to worry about that situation.
Futures contracts ended yesterday and many speculate that the price will always be dumped prior to that happening as people aim to get a better closing price. There's been a slight recovery from 7700 so far, let's see if that trend can continue in the coming days.
The main concern now is that the news from the g20 summit is still looming over us, I am of the belief that the market will respond positively even to negative news because expectations are always worse than reality.
Im not sure about that. There was some japanese guy on twitter, tweeting in japanese so some things may have been lost in translation, but bottomline is that they could be selling at any time, even if some news said that it was frozen until september, this guy say something like "it is independent from that, the trustee can still sell" or something along the lines.
Hoenstly I think it is crazy that they haven't officially gone OTC yet. Kraken should ban the guy's account.
