Looks like gox going back up? What caused this and will it continue to grow?

[bitcoinsrus]

Gox over 300 now.  Will it rise?  Would it be smart to get goxcoins (if you had money on mtgox)  Will other exchanges soon go up.  Should we start panick buying now while they seem cheap?  What caused this sudden increase.  I assume gox will post an update or something tomorrow (monday 2/24/14)

Thoughts appreciated.

[biafore]

Its Monday in Japan Mt.Gox has released no news, price will plumet if Mark does not give a update, so the only question on weather you should buy or sell rite now is, do you have faith in Mark and Mt.Gox to deliver good news today it already almost 8 am in Japan, no news, is bad news with this one

[Oblodo]

 one word: Bitcoinbuilder 

[Money Raccoon]

Its Monday in Japan Mt.Gox has released no news, price will plumet if Mark does not give a update, so the only question on weather you should buy or sell rite now is, do you have faith in Mark and Mt.Gox to deliver good news today it already almost 8 am in Japan, no news, is bad news with this one

He hasn't given any news since Thursday yet the price went up 300% over the weekend so what you just posted is complete BS.

You also said roughly 12hours ago (at $310 approx) that the price would drop to $250 in the following six hours which was also nonsense. You even called it a bulltrap, which you were also incorrect about.

Stop giving bad advise. Someone might actually listen to you and make an incorrect decision based on your BS.

And pay your debt!!

[derpinheimer]

one word: Bitcoinbuilder 

Doubt it. Under $200 is just way to low. Risk/reward there is crazy.

Selling under $200 = high risk, low reward

Buying under $200 = low risk, high reward.

$300 is a good middle ground.

[yenom]

I can't believe how much utter shit is written on this forum

[ElectricMucus]

I can't believe how much utter shit is written on this forum

I can and I do.

[Notanon]

I can't believe how much utter shit is written on this forum

Spot the newbie!

[ArticMine]

one word: Bitcoinbuilder  

I can't believe how much utter shit is written on this forum

Spot the newbie!

The newbie has a point this is part of the reason. What many are forgetting is that the MTGoxBTC/MTGoxUSD price is not an indicator of MTGox's financial health, far from it, but rather an indicator of the chances of a MTGoxBTC holder being paid vs a MTGoxUSD or other MTGoxfiat holder being paid. One of the reasons for the drop last week is sizeable MTGoxBTC holders selling for MTGoxUSD in order to position themselves to sue. Once the deadline for the lawsuit passed many of those that chose not to participate or were too small to participate would buy MTGoxBTC in order to exit via Bitcoinbuilder.

[Notanon]

I was being sarcastic. It's pretty much fact that there is a large propagation of bullshit on here, so him saying so was a bit Captain Obvious in its own right.

[bitcoinBull]

One of the reasons for the drop last week is sizeable MTGoxBTC holders selling for MTGoxUSD in order to position themselves to sue.

How does holding USD vs BTC at mtgox make any difference to one's legal standing? Has a lawyer anywhere explained how that makes sense?

There's only one reasonable explanation for why MtGox users were selling at ridiculously low prices (relative to Bitstamp), especially knowing that it would be even more difficult to withdraw fiat than BTC: because they were hoping to buy back cheaper. Disabling withdrawals essentially set up a control experiment, and the result was a textbook demonstration of how "endogenous dynamics" drive a market until it reaches the extremum, and reverses.