Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

I have to disagree. That trendline needs to be lower, the start should be at the end of 2015.

below 3000 is not possible https://forum.bits.media/index.php?/topic/952-%D0%BA%D1%83%D1%80%D1%81-bitcoin/&do=findComment&comment=1707986

Wait and see what happens when all the MtGox Bitcoins are released into the wild if the current price is hovering around $3000 / BTC.

When is that coin release going to happen?

Probably not going to change anything significantly when the MtGox coins are released to the coin owners - such release might be a bullish event.

How? Unless they got dollars they won't be buying extra coins as a result of the release, but will have coins of which some will probably be sold due to the amount of people involved.

Let them sell. So what?

Part of the idea of bullishness is that when GOX people get their coins, they are going to have control over the coins, and that is bullish.... Coins were tied up, and now they have them.

A vast number of Gox investors (traders) are not naive nor novices, and they have been in the bitcoin scene since 2011, 2012 and 2013.

You believe that GOX investors have been sitting on their hands for 5 years just waiting for their only coins? Bullshit... There may be a few that fit that category; however, more likely, a large number of them are likely hedged in various ways, and yeah, again, some are going to sell, but they are likely stupid to sell if BTC is still in a similar place (price wise) as it is now.. Let's just assume BTC prices are in the $2k to $5k arena, it may be a profit for them, since their coins were acquired in the sub $1k territory, but there is also some windfall coming here, too... and if some chose to sell, so what?