Quote from: uneng on Today at 07:11:05 PM

I believe once the distribution by Mt. Gox happens, the scenario starts improving for Bitcoin once again. There is a lot of fear and pessimism among investors due to Mt. Gox exchange, US and Germany governments dropping large sums of Bitcoin on the market. So we just have to wait for this to happen for that wave of pessimism fade out.

The current further drop may be a result of traders taking advantage of the news about the MT. Gox coins disbursement. The traders are possibly shorting their orders so that they can accumulate when the distribution of the coins to MT. Gox victims started. The 9B dollar amount of coins to be released on the market is huge of a supply and many think that a fund this huge would greatly affect the supply of the Bitcoin market and a possible dip for the market price. Also this:

Quote from: ginsan on Today at 07:32:54 PM

I read the news on X that is associated now more Germany has sold BTC that has been confiscated this may cause the market to crash, do not panic because if this news is over then bitcoin can recover again.

This is also a good opportunity for people who want to re-enter the Bitcoin market and for those who love to DCA their way in accumulating Bitcoin. However, I am not seeing BTC to drop $38k or below since a demand pressure my flock in once Bitcoin dips down below the $50k area. Aside from that there are also good support above $50k unless these supports are taken off, Bitcoin might recover even before it touches $49k.