Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Prediction.
Price shoots up over 100k on Jan. 3. But nobody has bitcoins on the exchange to sell. By the time they are back on the exchange the price is back down to the Jan 2 price.
Price shoots up over 100k on Jan. 3. But nobody has bitcoins on the exchange to sell. By the time they are back on the exchange the price is back down to the Jan 2 price.
I think this is the reason why this experiment will have a limited effect. The price is likely to rise somewhat depending on how short exchanges are of BTC. People will be scrambling to put their BTC back on to exchanges to get a bit of the better price action. As a result this will dampen the price rise.
It will be interesting to see how it pans out.
I for one, have already moved all my BTC into cold storage.