I have been reviewing the volume of Bitcoins trade now and compare to the 22nd of August and it has and increase volume of almost 30% more today. I belive is because of a big sell due to china news, but however some one is buying the Bitcoins, so I am sure that over tonight the price will touch the bottom price, and either tomorrow morning or over the next 2 to 3 days is going to bounce back very very fast. It is a good entry point now.
Well that is what I think.
Well that is what I think.
Well BTCChina is now confriming to shut down all operations.
Not sure what exactly were their thinking but this has definitely affected markets. Basically BTCChina was one of the most prominent exchanges in China and this means that all exchange activities have to go to other exchanges, which may shut down as well.
There are FUD but there are real news as well. I do think that a price rebound is in site, though not sure when exactly and whether or not it's gonig t obe a bull trap.