German government having second thoughts.

[legendbtc]

News reports saying Germany has sold off all of their Bitcoin holdings. Great news for the market. I hope we see a retaking of $60K next week and maybe even a run at $70K before mtgox coins start hitting the market. I also hope we see the price increase before the massive shorts hanging over the market can be covered.

This is a great news because the market is going to have some relief while we wait for mtgox to also finish distributing their own Bitcoin that they are holding. The difference between the german fud and mtgox fud is Germany was selling directly as they had the Bitcoin but mtgox would not be selling directly but they will be sending the Bitcoin to different people and everybody would not be selling at the time to make the market to fall. Some people are still going to hodl their own Bitcoin and not sell therefore we should not be expecting the same impact like it did when Germany was selling. The market is going to recover and we would be in a better position to counter the selling pressure from mtgox. The market not falling more is a sign that the market might have bottom and it is, retracing that is the next step of the market to take. The market is only going to fall if the news that Germany are done selling was a lie and only a rumour.

But there is a difference that you need to know that the amount of bitcoin held by the German government is 50kBTC worth about 3 billion dollars while the amount of bitcoin held by Mt.gox is 142kBTC and worth more than 9 billion dollars. So even if there are some people who don't sell their bitcoins, there's no guarantee that it will have any less impact on the market.

But honestly, I don't see the German government or Mt.gox selling bitcoin having a significant impact on the market because looking at the trading volume, it can be seen that the market has enough liquidity with those selling orders. But it seems that someone is taking advantage of this news to manipulate the market, they are exaggerating this news to cause more panic in the market and make the dumping situation more serious. That's scarier than the German government and mt.gox selling bitcoin.

[CageMabok]

The market comes to us and we're not the one that goes to the market. I've set my principles and strategies which is ready to be triggered once the bull season steps in. It's a whole down patience which I'm holding firmly because giving up is not an option at my end. Bitcoin chances of breaking new ATH is very high but the main goal for traders and investors is simply sticking to main goal.

I actually think the opposite, where those who come to the market are the market users themselves because the market never goes anywhere to pick up every user to become a member of a particular market. This means that the market is just a place that continues to stay and provides important services to everyone who comes and enters it. So that people who want to trade are people who always like to take advantage of market situations and likewise people who want to continue holding assets that have been purchased in the market.