Quote from: AtomicTrader on June 20, 2011, 10:05:18 PM

I think this attack on Mt.Gox was a reality check. People's valuation of BTC will be lower as a result. Single digits is not unreasonable.

This is entirely true. I think what Vladimir's point out is the incredible reality that, in spite of the fact that single digits would be totally reasonable, it hasn't happened that way. The reality check has come and gone, and yet the loss of value has been minimal. There are no forces remaining to shock the price lower than it has already gone, except for the flood of liquidity once Mt. Gox reopens, which doesn't really have anything to do with the "reality check".

Unless it's the case that all of the traders who have been transformed into bears by this incident have been unable to trade because they were Mt. Gox users. In that case, the reopening may bring not only a flood of liquidity, but also a flood of bearishness.

However things happen, this is going to be fun to watch for those of us without much to lose.