Anyone else agree that mtgox payout is keeping bitcoin down?

[JeffBrad12]

yes they are, i'd be damned if they didn't because after all look at these news.



every single day they just keep releasing news about mt gox as if we the bitcoin holders need 24/7 fud sessions from all these news site!
it'd be great if we can go on 1 day without mt gox news but I guess we won't. I mean, yeah we know Mt gox gonna do repayment amounts to billion, we already know dude but these news outlet keep pumping the news as if it's the hottest thing ever.

[doomloop]

I wouldn't say it is keeping it down, but I would say that it may cause a little discomfort for people as well. Remember, if we wanted to go berzerk and go up, then even that much coins wouldn't be able to hold us, it is going to be quite near impossible for any amount really, unless it's all sold off at once, and even then we will fall and then recover, so it is not like a big deal at all for any of us.

We should consider the fact that we are going to end up with a solution to all of this, if only we end up with doing what we know how to do; which is holding. It is a simple method, and you just need to wait for all of this to blow over, after that it will get better, plus we are at the summer period now, so it is not really expected to go up just yet, we are going to wait for summer to end but after that ends, we may start the bull run.

What Mt.Gox is showing right now is a potential for a drop, that part is true, having a lot of sellers, but if we could just turn this into a bull market, then sellers will not matter because there will be enough buyers that will cover the difference, so we need to know what we can do to help with the situation at the moment, so we can get a better result in the end.

What they are showing is not potential for anything at all, we do not know what's going to happen before anything happens. Will they give that to people, or when they do, will people sell a lot, or hold, will there be any buyers. Nothing is known, and we are just making a guess and that's why I do not think that it's a smart choice. I believe that we are going to deal with something that will not be known beforehand, we just need to realize that things will not be too simple to guess.

I believe that we are getting closer to bull run, and when we are in the bull run, it's nearly impossible for bitcoin to be dropped, even with like 100k+ being sold, all near at the same time, if we are on the bull run, price will not go down too much. For that to mean something, we need to realize that things need to get going, like we need to start the bull run before that happens. Will that happen? I am not sure, maybe mt.gox deal will start first, and we will have a crash, but we can at least recover that when the bull starts, or we could wait and maybe mt.gox will happen after the bull run starts, then we will not have any issues and the price will stay strong and will not go down at all.

[STT]

When I goto the BTC chart it shows a market cap of 1,300 billion or 1.3 trillion.   So why are we especially worried when the 6 billion figure for Mt.Gox pops up.

Its alot of Bitcoin, it could have effect but we're talking about the waves instead of the tide change to BTC.  Theres bigger things to worry about, this being an election year or just normal economic fluctuations around the globe will all have more influence then the Mt.Gox sell program.

I really dont expect that much directly, its an exchange from one holder to another and someone else will want that BTC if the current holder doesnt.   Short term liquidity from a sale might move the price but its not much beyond that brief moment.

I believe that we are getting closer to bull run,

I do think a bull run is fair but its not moving so much at present or prior months.   Its still valid but we have consider its a longer term time frame then most would consider ideal.   I still imagine a sell off to 50k can happen, we'll see what hits as we move away from 'summer'.