Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
windjc
on 07/02/2014, 17:45:51 UTC
Quote from: deadfi$h on February 07, 2014, 05:41:54 PM
Quote from: Drabla on February 07, 2014, 05:38:07 PM
Quote from: deadfi$h on February 07, 2014, 05:33:54 PM
Can anyone explain to me why GOX crashed/is crashing?

If I had any fiat sitting on that exchange I'd be buying as much coin as I could with it and moving it to another exchange ASAP. So why isn't the price skyrocketing?

https://www.mtgox.com/press_release_20140207.html

.... a temporarily pause on all withdrawal requests ....


Ahhhhhhh, got it. I read another article earlier and understood it as a full stoppage of all fiat withdrawal requests. So people are betting it's going to be easier to get cash out of GOX than coin? LOL, what a shitstorm.  Cheesy

Gox is responding now. We have good reason to believe this is a fixable technical glitch. If that is true and this is resolved, Gox is going to go back up and quickly as people convert back to Btc.

Bears are predicting more downside and they might be right intermediate term, but short term only their greed would make them short the market in the next handful of days.