Re: MtGox finally going to distribute 137,000 BTC sometime next month
Four digits, here we come. I'm going to fill the shopping cart.
I'm wondering if we won't see the 10,000$ once again, whenever there is any news about this MtGox ghost we see the market falling like a rotten papaya when it falls from the tree. but on the positive side and that a drop to $10,000 would be a great golden opportunity to buy big and then sell at $60,000 would be 6X profit guaranteed. Will we see the president of El Salvador selling the whole country to buy bitcoin at 10,000$?
What does everyone think will happen? Dump? Pump? Sideways?
I read an article about this and that article thinks that most receivers will ask for the dollar and thinks that the Bitcoin market will possibly crash by $3B that time. Funny how these media already made a conclusion about the BTC crash on the distribution day. But I don't think that it will happen because most of these receivers are once BTC holders. So I think the majority of them will have it received in Bitcoin thus the market will not be affected by the said distribution. So I think it will be sideways in relation to the Mt. Gox fund distribution.
people need money and with the fear of the price going down even more they will sell soon and the price will go down, of course the price will recover later, but it will take time. unfortunately this news appeared at a time when the market is down and everyone is afraid and little optimism about the future