Re: Would the bitfinex ''hack'' be the trigger of the next major rally?
~~~just as soon as I can get my funds off Finex, I will be washing my hands with crypto for good. I suspect that there are a whole lot of other Bitcoin market participants who are feeling the same way right now.
~~~a lot of market participants aren't going to want to touch Bitcoin or anything crypto related for a very long time.
~~~a lot of market participants aren't going to want to touch Bitcoin or anything crypto related for a very long time.
i doubt that there are many people like you. maybe i am wrong in my assessing the situation but the huge USD volume that was injected in the market in the past 3 days and the rise from $496 to $570 supports my hypothesis
In addition removing those USD from the market should not influence the current price as the bitcoins are already gone and the price has accounted for that.
It would be a shame to use an active bitcoin user/trader though, and I indeed guess more people will feel like MadTheCat if they are in that situation..
Up till now I was lucky enough to get my funds back from hacked exchanges (cryptsy, mintpal) because I withdrew them when the scam accusations started, but sudden moves like this are a completely different thing. Makes me rethink the amounts I hold on exchanges for fast trading..