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Author Topic: [2016-12-28] Bitfury Refuses to Sell $43 Million Worth of Bitcoin  (Read 424 times)
Vladdirescu87
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December 28, 2016, 09:20:19 PM
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One of the largest Bitcoin mining companies, Bitfury, has turned down bids to buy bitcoin from various investors and Assets Under Management funds. This is seen by many to have been triggered by the surge in Bitcoin’s price from $800 to $900.

Predictions of the price of bitcoins are coming true, prompting investors to look to bitcoin as an opportunity to seize some significant profits from. Recently, it was predicted that bitcoin’s price wouldn’t stay long at the $800 mark and that came true. Now, there are ongoing predictions that bitcoin will touch the $3000 mark in 2017, causing investors to buy as many bitcoins as possible. This is in anticipation that the price will increase high enough for them to make a sizeable profit.

You can read the full artocle here: https://coinidol.com/bitfury-refuses-to-sell-43-m-worth-of-bitcoin/
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Papa Bear
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December 29, 2016, 01:56:52 AM
 #2

Bitcoin price is expected to increase 3 fold. No firm is willing to lose the possible profits which keeping their bitcoins can bring. All factors can efficiently show that bitcoin price is aiming for the sky in 2017.
Clement Kaliyar
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January 02, 2017, 07:06:31 PM
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I am hearing about this news really late as i never had any idea that the price would really cross the thousand dollar mark so early after it failed to cross the mark quite a few times and i thought it would go down after new year and the possibility of breaking new records are really catchy but i hope i could get hold of some coins before that as i am really waiting for a dip to enter once again.
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January 03, 2017, 01:55:43 PM
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If this is indeed the trigger for the price to cross $1000, then what happens if Bitfury decides to dump its coins?
I hope the market develops enough depth to absorb such dumps as well.


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January 03, 2017, 02:16:50 PM
 #5

If this is indeed the trigger for the price to cross $1000, then what happens if Bitfury decides to dump its coins?
I hope the market develops enough depth to absorb such dumps as well.

It is, as shown by the fact that we're in the 1,000's. The amount of notional currency needed to push Bitcoin to 1,000 is a lot larger than it was back in 2013. This increased market momentum also means that once we cross a given price, with the current trend, its much harder to push it back down.

2013's bubble was a blow-off rally on volumes that we would laugh at today. I find the rise-pause-rise cycle encouraging because it doesn't adhere to the parabolic blow-off pattern, which means that it has a higher likelyhood of persisting in the current trend versus a sharp and direct selloff.

Anyway, we've breached the psychological four-digit barrier yet again (something a lot of people thought would NEVER happen again by the way), and now we're simply arguing over technicals and how high it might go. All of these things are significant.

fortitudinem multis - catenum regit omnia
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January 03, 2017, 02:24:12 PM
 #6

If this is indeed the trigger for the price to cross $1000, then what happens if Bitfury decides to dump its coins?
I hope the market develops enough depth to absorb such dumps as well.

It is, as shown by the fact that we're in the 1,000's. The amount of notional currency needed to push Bitcoin to 1,000 is a lot larger than it was back in 2013. This increased market momentum also means that once we cross a given price, with the current trend, its much harder to push it back down.

2013's bubble was a blow-off rally on volumes that we would laugh at today. I find the rise-pause-rise cycle encouraging because it doesn't adhere to the parabolic blow-off pattern, which means that it has a higher likelyhood of persisting in the current trend versus a sharp and direct selloff.

Anyway, we've breached the psychological four-digit barrier yet again (something a lot of people thought would NEVER happen again by the way), and now we're simply arguing over technicals and how high it might go. All of these things are significant.


It was awesome that bitcoin did break tat $1,000. We hit it in 2016 but people probably sold a lot of bitcoin thinking it would again drop because hit it. It dropped to still about $900! Now we are stabilizing at $1,000 and would look like it will still sky rocket some more. It seems this Bitfury is looking to cash-out once it reach a much higher value than we have now. Looks like we have something to look forward to!
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