Quote from: magicmexican on February 26, 2014, 12:56:11 PM

Quote from: rpietila, the Vassal of the Mighty Goat on February 26, 2014, 12:52:46 PM

It is going down - 500 to be tested soon.

Reason: we are not that much below the long-term trend, so given the sentiment, we are "hanging in the air" when the solid ground is in 400-500, below that is a steal and above that is hopes.

500 maybe not, i am thinking 530

I think a lot of people who lost BTC on Gox will want to buy in again.
For many the coins they had on Gox are fairly old, so getting hold of new fiat whilst the price is cheap may not be a problem, both practically and mentally.
Its going to take a few days for the bank transfers to make their way through the system. This may hold the price higher for a few days.