Quote from: GeoRW on May 02, 2013, 05:42:07 AM

Quote from: Luis_GT on May 01, 2013, 10:56:27 PM

Butterfly labs officially announced shipping... prepare for the bullrun!!

or not...

Coming of ASICs means just one ... selling pressure. People invested a lot into ASIC hardware and they need to cover the costs. The question is if there's still enough buyers to keep the price at these levels after all the news bitcoin-mania ended. We are in the bear market now. The price may slowly go downwards throughout the whole 2013 like it did after 2011 crash.

There will be no more selling pressure than there is now, the same 3600 BTC will be produced each day, and currently more than half of the network is probably ASICs that were purchased at a higher price than BFL's. Of course, there will be no bull run either . . . I will be in no hurry to sell my mined coins, unless the price shows itself to be in a continuous downtrend, in which case every miner will be selling, regardless of technology. The only comparison to 2011 is psychological, Bitcoin is in a very different place than it was in 2011. I would say that any downtrend will not last as long. The one risk we have, is the stupid manipulators, something is going to have to be done about them, what, is anyone's guess.