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Author Topic: Another $15 decrease and we're at 11months low  (Read 1703 times)
krb91
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October 05, 2014, 12:30:56 AM
 #21

We have been going sideways bouncing between 320 and 330 for a few hours now. Will there be enough sell pressure to push below 300?

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BlindMayorBitcorn
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October 05, 2014, 12:51:37 AM
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Ahhhh "HODL!" and "Cheap coins!", the official bitcoin cheerleaders mantra. I expect a slide all the way back to $100 barring some real world financial disaster that the pumpers can cash in on.

What if... I told you that... you need to sell 5000BTC to get the price to 341 and only need to buy 5000 BTC to push it abovce 405?

At some point the person(s) who unloaded tens of thousands of coins to get us down to this price is/are going to start buying again. Then the greater than 11,000 open short contracts will be closed adding another 11,000 coin purchases in a short space of time. Epic will be too small a word, eventually.. Smiley

How many coins does this person/s have to dump? As a single person, group (or *tinfoil* "consortium"), there aren't too many candidates with that many coins. Perhaps they are the gox coins and the troll accounts here exist to create the momentum to continue the 'miners selling' slide? But, logic suggests that anyone trying to dump and not buy back in (as troll accounts spout) would want the price as high as possible. FFS, i dont know, its despair.

I read about mining operations installed by employees of state-owned factories with state-subsidized electricity. In some cases the rigs are even charged to the company as “computing equipment.” If the state’s paying for both your equipment and your power bill, the price of bitcoin doesn’t matter so much I guess

Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
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October 05, 2014, 02:30:49 AM
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