Can you guys keep on buying? I need the price of BTC to reach 20ish to purchase an Avalon. I've only put 80 BTC aside for this, accounting a small dip.. but not this huge of a dip!
Most people thought there would be a massive dump after Avalon starts getting BTC. However, I think the dump has already done before the pre-order starts
I think this is exactly why we have a dump here:
1. Avalon team bought a lot of BTC @$13-18
2. They announce their BTC-only batch #2, price raised to $21
3. They postpone the pre-order to Saturday to let more people to buy BTC, and they sell part of their holding, price dropped to $20 (Profit!)
4. They dump 20k BTC trying to crash the price. (Edit: they bought below $18 so the dump stopped exactly at $18, profit once again!!) Not very successful, but still make the spot price <$19.5. Lack of USD funding in weekend restricts the rebound
5. Pre-order starts. Due to a lowered spot price, they will receive more BTC for their USD-priced machine (Profit twice again!!!)
So they have earned a lot USD in step 3 and 4, and get all of the BTC back (or even more than that) in step 5 later. The USD profit alone is enough for them to buy parts for #2 Avalon, so you won't see the anticipated post-sale massive dump. A small dump is possible if some in the team do not appreciate bitcoin.
