Post
Topic
Board Securities
Re: [HAVELOCK] PETAMINE 700 TH/s or 8.68 GH/s per share
by
mikemikemike
on 28/04/2014, 13:14:55 UTC
During these next couple of months when asicminer is converting anywhere between $5-10MILLION US into BTC for 400,000 shareholders dividends from 10.9million GH of chip sales I dare say we will surpass the $500 BTC mark and start rising a bit again. As people see a bit of a spike in bitcoin price from the large buys, I'm sure they will follow suit and drive it up too.

Sorry dude, but the amount of money being pumped in means very little compared to the price psychology. You could pump in tens of millions but if the market thinks the price should be less than it currently is, then the price is going down. just like technology the price of BTC follows a very specific adoption cycle, a cycle that hasn't been broken for the last few years and has been confirmed time after time it will still carry on for atleast one more big pump and dump. we will see $2000 BTC before November easy without a doubt. it will be back in all the papers saying OMG look at bitcoin, then a couple months later everyone will be raving about its death, AGAIN. this cycle will carry on going until we have stability, but stability won't happen until major adoption.

also, dude, tens of millions is small money compared to whats about to happen with wallstreet. when second-market comes online and so do the ETF's, that ten million will look allot like the earth compared to saturn or jupiter.