Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
ofc one big reason in background is that this is probably bounce from the last big down move 1163 - 382, it's not likely that we could recover this fast, despite we're talking about bitcoin
the last day of the weekend, lets see what will happen till tomorrow, although I wont sell a single Bitcoin, I am sending more cash to Bitstamp so if this really happen I will be more than happy
by posting things like this it doesn't mean that people will sell their coins, a bear market to me means "buy" a bull market to means "sell", and BTW most people have learned to hold especially after the events of this year, so I think you will see more new cash coming in instead of people freaking out and selling, the week hands already sold....
If you send cash today to BitStamp, usually it arrives too late there.
The price will probably crash - there is no serious buying currently. When the coins are sold to buyers on buy-wall, it means the price is dropping despite there is always a buyer for every sale. When there is power in the engine, the buying will eat the selling wall.
Now I see it is dropping slowly and the first seller right now gets the best price out of his/her coins, the second seller the next best price etc.
By being a first mover you max the dollar amount you are going to get out of your coins in case of crash.
I think the crash scenario is serious now and should be considered very carefully by each prudent investor.