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Author Topic: Are we seeing true capitulation on gox?  (Read 1630 times)
Bit_Happy
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February 21, 2014, 06:20:06 AM
 #21

Buy when others are selling, sell when Greed takes over.
We are close enough to the bottom for a smart trader to be buying, not selling.

Markets have a way of fooling even the most saviest of investors and traders.  Prices on gox have declined 93% to double digits and btc-e even traded down over 90% to 102.  

IMO the bear market is can be considered complete in terms of price but maybe not in terms of time.  However, bear markets tend to move faster than bull markets so this bear only lasting 3 months would not be out of the question.  

I could be wrong but I have a feeling gox will reinstate (limited)withdrawals sometime over the next few weeks and those goxBTC will magically turn into regular BTC.

Thoughts?

FYI: We are <snip>
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February 21, 2014, 06:36:29 AM
 #22

The buyers are high risk players who have accepted taking a risk and are gambling with money they can afford to lose.
That's me - I've written down the cost of MtGoxBTC/USD to zero, but continue to buy MtGoxBTC.
Getting back cents on the USD if it goes bankrupt is of no interest to me.

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February 21, 2014, 09:04:55 PM
 #23

The buyers are high risk players who have accepted taking a risk and are gambling with money they can afford to lose.
That's me - I've written down the cost of MtGoxBTC/USD to zero, but continue to buy MtGoxBTC.
Getting back cents on the USD if it goes bankrupt is of no interest to me.



Ah yes I forgot another thing:

The price point where people decide that an x% chance of receiving X amount of btc is more attractive than a y% chance of conducting/winning a lawsuit and receiving Y amount of btc, and people who don't think that a lawsuit is going to work or that they would ever receive USD and have a better chance of receiving BTC, despite what the lawyers say.
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