Post
Topic
Board Exchanges
Re: MtGox withdrawal delays [Gathering]
by
FrictionlessCoin
on 20/02/2014, 16:26:00 UTC
140000 btc is the honest estimate, if you sum all sell orders of 30-200btc following the same periodical pattern during the last week @mtgox. there was no real possibility to buy back lower. as soon as the whale stopped dumping for some minutes, the price rushed up again because the order book above was very thin. you could have bought only 300btc and the price would have been back to us$500+ levels. the whale dumped more then 1000btc per hour. many users where irritated, who the hell sells off all his bitcoins at such a low level.

I think you should not even assume that these are real BTC being sold at Mt.Gox.   

Mt.Gox can choose to flood BTC that does not exist!

This way the can buy the real ones at 25 cents on the dollar and sell it for profit elsewhere.