I know I will be dropping at least a few coins on some deals this black Friday!
Last huge drop there was a 30K wall after a 30K auction... Who is ready for the 50K wall this time?!
That makes no sense. The last auction didn't cause a wall because the coins weren't sold on an exchange. The wall was on Bitstamp, many months after the auction.
Secondly, the coins were all bought by Tim Draper, whose company Boost VC will be using the bitcoins to invest into startups in their incubator. He hasn't sold any of his coins yet. So the only wall it created was people who thought it would create a wall, created their own wall on the exchanges. Pretty sure this is Tim Draper's bitcoin wallet, and it's mostly still intact at 29k:
https://blockchain.info/address/1a8LDh3qtCdMFAgRXzMrdvB8w1EG4h1XiWhoever buys the 50k bitcoins at the auction won't be buying them to simply dump. That doesn't make any sense.
I'm not saying it won't drop, but you're certainly spreading mis-info about something that didn't happen.
He was talking about the 30k bear wall early this month when one person apparently sold ~30k bitcoin at once on btc-e.
@OP, I would be long term optimistic about any long term effects on the price of bitcoin that any black friday deals that are bitcoin related. Merchants will likely realize the cost benefits of accepting bitcoin and many people will hopefully buy bitcoin with the sold intention of using/spending it