A Much More Fun Downtrend

[Kazu]

[1714034682]

1714034682

[1714034682]

1714034682

[1714034682]

1714034682

[FUEPA]

This is not surprising, given that USD withdrawals are not permitted at this time. Who would deposit or bid up MtGox USD in the current environment?

[notme]

This is not surprising, given that USD withdrawals are not permitted at this time. Who would deposit or bid up MtGox USD in the current environment?

Withdrawals are permitted.  They are just delayed due to the outage and the resulting queue.  It may take a while for them to get caught up.

[Komodorpudel]

This is not surprising, given that USD withdrawals are not permitted at this time. Who would deposit or bid up MtGox USD in the current environment?

wondering: Where you ve got this absolute false information from?

[Kouye]

Withdrawals are permitted.  They are just delayed due to the outage and the resulting queue.  It may take a while for them to get caught up.

Can we talk about *VERY VERY VERY* delayed but very permitted withdrawals, after no positive feedback in almost 2 months ?

[notme]

This is not surprising, given that USD withdrawals are not permitted at this time. Who would deposit or bid up MtGox USD in the current environment?

wondering: Where you ve got this absolute false information from?

No, it's true. There's been a 0.5BTC bounty for a recent USD withdrawal from gox. Nobody has claimed it yet
https://bitcointalk.org/index.php?topic=251895.0;all

Absence of evidence is not evidence of absence.

[notme]

Absence of evidence is not evidence of absence.

Agreed. But since no one have seen yeti, we shouldn't assume he exists.

Agreed, and when MtGox themselves says that it will take 2 weeks just to catch up on the queue before they can process new withdrawals we shouldn't assume no withdrawals are being sent out just because people have waited 3 days on their new requests.

[FUEPA]

I shouldn't have said "not permitted". There are no USD withdrawals from MtGox at this time. I'm pointing out the economics -- you would expect less offers for USD when there is a delay for USD. Higher USD prices for BTC leads to less USD deposits, and more BTC deposits.

[Impaler]

For crying out loud the ORANGE line is the BTC depth on Gox not the Dollars.  The OP is pointing out that the decline in BTC depth is a rising price signal and is thus the 'Fun' downtrend.  I'd argue that this effect is largely temporary as prices dropped a bit too low, miners and others have simply started holding their coins.  But were still in a secular bear market here and will be for quite some time, we would need to break well above $150 to establish a true bull market, not struggling to maintain triple digits.

[derpinheimer]

For crying out loud the ORANGE line is the BTC depth on Gox not the Dollars.  The OP is pointing out that the decline in BTC depth is a rising price signal and is thus the 'Fun' downtrend.

I dont think anyone was confused about this.