Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
dreamspark
on 07/03/2015, 17:20:09 UTC
I predict a knee-jerk drop in price after the results of the auction based on the unfounded fear that the coins will be immediately dumped. It is during this drop that I will buy. Then in a week or two some piece of good news will lift the price over 300 settling back down to exactly where we are today. Go on..Quote me

No.

Several reasons.

Firstly you wont get results the best you will get is something like this. https://bitcoinmagazine.com/19512/us-marshals-auction-participant-price-not-significantly-market/

People who didnt win saying what they think etc. That article tells you they didnt go for any less than $220.

Secondly people who think that the coins would be dumped just don't understand the sort of people who are bidding. They are investment firms etc that have no interest in just dumping on the market for a few thousand $ profit, they are after liquidity for their ventures. The fact the coins come from the government is a big plus, they get a receipt for their coins from the US gov. How much more legit from a business perspective can you get? This coupled with that fact the auction process is long winded and difficult but trusted compared to wiring millions to an exchange of people you dont know in hong kong means they just aren't going to be dumped.