1) My opinion about the BTC market is sometimes accurate, but certainly not always.
2) Disclaimer: I do not have enough money to invest, or BTC, to be trying to scare you into more panic selling
(Do you know?)
Major market moves tend to happen when people are caught by surprise.
Last week the general mood was very bullish around here. We survived the Gox meltdown and prices quickly rallied after the bounce at low $14. Also, the standing orders to buy were huge, almost 40,000 against ~24,000 to sell.
Who has the ability to place a large amount of standing orders to buy?
Only people with (relatively) huge amounts of cash in their Gox account, are able to place a large amount of standing orders to buy.
If you want to plan and start a truly Epic Round of Panic Selling
, what type of weekend is perfect, and why?
A mid-summer holiday weekend is a rare time when people who are "always online"
might be driving, camping, spending time with family, etc. After getting away from it all for 7 hours (for example) they take a quick peak online only to find their Bitcoin holdings are down over 15% in a day, and perhaps heading much lower if you look at the charts. So they login and sell ASAP
, hoping to buy back at the low, if their weekend isn't ruined trying to watch the market.
This is all excess speculation, but I smell a set-up
created by "ruthless rich people"**
Bitcoins "Market Cap" (total value) is ~$93,339,355 USD (over 93 Million), and recently was well over $100 Million, so "we" are worth the effort if an individual or group wishes to "mess with the market."Note
: I'm not blaming "The Bitcoin Elite"Ruthless rich people
could be your friendly local neighbor, for example.
Individuals are not obligated to "play nice" or care about the well-being of this great community.
ps. I could be wrong, but we are now setup the re-test the June low of $10.25, or even lower.... When the Hot Deadly Lava from MtGox is Inches from Your Feet how Will YOU React?Question #3
: Does your instinct/intuition tell you this was possibly planned and executed to evolve shortly after MtGox re-opened, and also just happened to be on a holiday weekend?
What do you think?