Re: Wall Observer - MtGoxUSD wall movement tracker

What the hell is suddenly causing all the exchanges to rise?!

I totally missed it because btccharts was down for like 30 minutes before I noticed.

That there wasn't really a fundamental cause for the price to fall so far in the first place?

Seriously, people selling coins at $50 was a bit out there.

I concur. Once the idiots realized they were just being panicky idiots, they started buying again... only problem is, once you've sold at $50, it's a little too late Grin

It'll be a while before they see gains again.

Please stop living in 1 hour timeframes, this is an obvious bull trap. When Gox opens we are going sub $50 for at least 3 days, give or take some wild volatility.

I'm not so sure, the price was going up from $120 before Gox pulled the plug. And the other exchanges are now recovering that the most-panic-y people have sold.

If the other exchanges are back to $120 when Gox opens, it's going up from there IMHO.

What does everyone else think?

I'd be reluctant to assume too much on that front. $90 to $120 is by normal standards a massive jump to expect to happen in an hour and if it does happen it's not a very solid basis for a bull run. I have to conclude I have no idea what is going to happen in the next few hours - but I have no plans of going to bed for some time (it being 1am in London)!!

i think we will see 50% swings all night long!

Add into the mix that the whole time this has been going on I'm guessing the newly expanded MtGox verification team will have been beavering away processing loads and that 2 am utc is 11 am in Japan so we'll have Friday's new fiat hitting the exchange too...