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?I totally missed it because btccharts was down for like 30 minutes before I noticed.
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
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?
The truth is people panicked because there are a lot of new users who were in for a quick profit and don't think of the long run. The rest of us sold because we thought "Oh crap, it goes down and I will buy in more!".
I went out for beers with $50 buy orders and I come home to find they have been filled. Weak hands to strong hands indeed.
Yeah, I sold at $225/$170. Just filled a $50 buy order myself on Bitstamp earlier.
I was expecting to wait a few months for it to get to that level.