Starting to eat away at that $24K resistance. I think we might see a quick hop up to $30K, but I’m still under the belief that a retest of the lows is possible when the mtgox coins are distributed. I would say that will be the time to buy, but it’s quite possible everyone else is thinking the same thing, so we’re seeing big money trying to front run retail’s re-entry by buying all throughout this dip.
I had an account at Mt Gox as did many others on WO at the time. I fortunately got my coins out before withdrawals were stopped. So most recipients of the distribution are Bitcoiners like us who would just add the coins to our wallets rather than rush to exchange them for ever devaluing fiat currency. A proportion will sell with the larger transactions done OTC. I think this event has been long priced in and at most will be a blip in Bitcoins history.