Post
Topic
Board Speculation
Re: At what price we would be at if Btifinex disaster didn't happen?
by
tee-rex
on 07/10/2016, 22:16:11 UTC
I often think about this nowadays. We were on a spectacular uptrend. Core team was about to launch 0.13 and the halving happened, we were on the good track, but Bitfinex happened, ruining the good uptrend with the stupid ass dump. Fortunately we recovered quick, but the uptrend is not as strong and will take some more time now to go 1000+ again.

We were in a serious downtrend at the time, as others have already mentioned. But did anyone consider that the Bitfinex hack could actually prop the price up in the long haul? The price spectacularly plummeted, but the downtrend was rather short-lived. Could we by now have begun to feel the lack of 120,000 bitcoins across the markets? What happened to the stolen bitcoins and where are they now? If they don't find their way back to the market, the effect should be positive long-term. Less bitcoins means higher price, or does it?