The 750K coins have been stolen from gox over the course of 3 years. It didn't just suddenly happen now. There is not a pile of 750k coins waiting to be dumped. It is likely dumped already.
Yeah Yeah......
But that doesn't mean that there isn't forces at work intent on kicking crap out of Bitcoin.....
....from Bitcoin Steve onwards, I think it would be a safe guess to say that there are....
....as per my Chinese cowboys slaughtering bulls with power tools in a barn dream, and then gambling rump steak against each other.
I came out my short at $550...went back in and then bottled it suspecting yet another Bitcoin retard rally (but who is to call it a retard rally if my ass would get liquidised in amongst it)....I slept right through the smash down to 400 and had about 60 BTC of buy-ins missed by $8.67. That's right, no staggered tranches for me...I am an all or nothing
fucking idiot man. However, right now with Bitcoin at $495, I am neither confident of going short or long. If I went short, I suspect I would be likely to get my arse squeezed, but I am equally convinced that there is much more of this shit to come.
Despair?
Don't make me laugh. What there is here, is relief. If this were to play out as the bottom, then it would be a carbon copy of what I and many others called weeks ago, and what has happened previously........so chances are it may not just work out so 'obvious' this time around.
