Quote from: andyb on June 30, 2011, 10:43:21 PM

Quote from: swusc2 on June 30, 2011, 10:39:51 PM

It's just a few impatient people getting out of bitcoins. They sold for a ridiculously low price for absolutely no reason at 15.9. Even though they could have sold at like ~16.7.

you might be right, it's back up.

but why would one do this? wouldn't it be easier to just sell in small amounts? plus considering the fact that almost all methods of withdrawing money from mtgox are delayed by days, this is just stupid.

Nah someone is just cashing out $100k (they might have a special deal with mtGox to withdraw more), and there isn't enough market confidence to support it. As soon as anyone sells a little the market drops and doesn't pick back up since the MtGox close, so its on a down trend atm. As soon as it moves even slightly down (with supposed support), people get scared, remove their large buy orders, then the market panics. That's what just happened.

It won't be back up to 16.8 unless another someone with $100k (or lots of littles) want those bitcoins.