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Title: the most likely impact of GOX on BTC price (my speculation) Post by: jasonjm on February 25, 2014, 07:30:35 AM will be as follows:
whoever is going to panic sell will do so in the next 24 hrs, so that will be done and over pretty soon. but the larger problem will be lots of people who have fiat on exchanges but do not want any btc, will withdraw the fiat to their banks, for safety reasons. So - there will be much less money waiting on the sidelines to buy BTC as it will get moved off the exchanges. whether or not this will allow BTC price to dip over the next 4 weeks, we shall see. Title: Re: the most likely impact of GOX on BTC price (my speculation) Post by: DieJohnny on February 25, 2014, 07:32:51 AM will be as follows: whoever is going to panic sell will do so in the next 24 hrs, so that will be done and over pretty soon. but the larger problem will be lots of people who have fiat on exchanges but do not want any btc, will withdraw the fiat to their banks, for safety reasons. So - there will be much less money waiting on the sidelines to buy BTC as it will get moved off the exchanges. whether or not this will allow BTC price to dip over the next 4 weeks, we shall see. I think the problem is all of the people sitting on cash and waiting to buy again. Regardless of what everyone may be dreaming no panic buying is gonna happen for months. I think we will meander around 350-450 for next three months. |