Trend Analysis of Democurrency GMT20140626 14:56

[songsunling]

Bitcoin:

There is a strong support at the price $580. But wave of buying is not geilivable. The price changes around at $600 .

The FBI Bitcoin auction will come in 1 days later. And the price will jump and rise after that. If there is a wave of buying in a volume of 28000 coins, the price will go up to $660.

Auction is just a battle of two parties. No matter with others. None wanna buy Bitcoin and resell Bitcoin then. Bidders in the auction are those who really hope to buy and hold Bitcoin, because they expect to buy Bitcoin at a low price there, and they don’t hope push price high when they buy at market. They just buy Bitcoin secretly and at a very low profile. They will be glad to buy at current market price and not ask for a lower price.
 
Altcoin:

Altcoin Index 1 is 5.99, down 2%. Altcoin Index 2 is 2.38, up 0.5%.

LTC is going down greatly, PPC goes down to the floor, other altcoins still change strongly.

http://www.bit-sky.com/index.php/english

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[oda.krell]

Bitcoin:

There is a strong support at the price $580. But wave of buying is not geilivable. The price changes around at $600 .

The FBI Bitcoin auction will come in 1 days later. And the price will jump and rise after that. If there is a wave of buying in a volume of 28000 coins, the price will go up to $660.

Auction is just a battle of two parties. No matter with others. None wanna buy Bitcoin and resell Bitcoin then. Bidders in the auction are those who really hope to buy and hold Bitcoin, because they expect to buy Bitcoin at a low price there, and they don’t hope push price high when they buy at market. They just buy Bitcoin secretly and at a very low profile. They will be glad to buy at current market price and not ask for a lower price.
 
Altcoin:

Altcoin Index 1 is 5.99, down 2%. Altcoin Index 2 is 2.38, up 0.5%.

LTC is going down greatly, PPC goes down to the floor, other altcoins still change strongly.

http://www.bit-sky.com/index.php/english

no racist, promised. just what it reminded me of.

[Raystonn]

And the price will jump and rise after that.

I'm sure we'd all like this.  But what is this based on?  If everyone truly believed this, everyone would jump in long to front-run the next guy, and the price increase would quickly be priced in well before the auction.

If price moves later, and not now, that means there is some risk of an adverse action that could result in something other than a price increase.  Traders are thus waiting for the removal of this risk before taking a position.  So I'd like to ask you what you believe this risk might be?