Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Just one thing in my mind...
Nobody talked/talk here about the release of 140K BTC from Mtgox (should be very soon) ?
I assume it doesn't change the long term view on BTC... But into this bull market cycle (still quite calm and not so explosive as many expected/expect till now) , I am curious to see how the market can react at least on a short time view. Some drop again? 52K? 42K?
On the other hand, we have all the positive fondamental from the BTC side : ETF, GAFA owning BTC (corporate or individuals), legal tenders started in Central-South America... And if we are honest, on 2015 or 2017 we even didn't think about these points. So should be VERY bullish now IMHO.
HODL.
Nobody talked/talk here about the release of 140K BTC from Mtgox (should be very soon) ?
I assume it doesn't change the long term view on BTC... But into this bull market cycle (still quite calm and not so explosive as many expected/expect till now) , I am curious to see how the market can react at least on a short time view. Some drop again? 52K? 42K?
On the other hand, we have all the positive fondamental from the BTC side : ETF, GAFA owning BTC (corporate or individuals), legal tenders started in Central-South America... And if we are honest, on 2015 or 2017 we even didn't think about these points. So should be VERY bullish now IMHO.
HODL.
140K coins is not even half of the supply of a year of the current halvening cycle.
About as many coins as are "supplied" by mining are leaving exchanges, sometomes even more, according to on-chain analysis, IIRC.
I put "supplied" under quotes, because miners are also accumulating for future sales, so these coins might get on the market in the future, or not.
Also, i consider the typical MtGox customer as a hodler, so i doubt that every single released coin will be dumped for filthy fiat.
Even if my opinion might have flaws:
We'll see. For me it will be an opportunity to throw spare fiat at low bitcoin prices.
What is it with Fridays and dips?
It used to be the last Friday of the month, now it's every bleedin Friday.
It used to be the last Friday of the month, now it's every bleedin Friday.
If you survived 2013 with most of your stash (did you?), you will have the patience to sit this out. Turbulences ahead doesn't make a pilot return to the airport.
In 90's hipster slang: Go with the flow
Yes I survived 2013 with all my stash, that's actually when I got almost all of my stash.
But that doesn't make this bobbing up and down i the 60xxx range any less annoying.