Re: rpietila Wall Observer - the Quality TA Thread ;)
i think it depends on the method of how the sr coins get sold.
Explained here:
http://www.usmarshals.gov/assets/2014/bitcoins/
Crony auction at its best. Too short notice for anyone with BTC to attend. Until next monday I am supposed to have created a bank account in the U.S., and have transferred 100% of my anticipated total bid amount into it in USD, the proceed of the bitcoin sales that I have made in the space of this few hours/days?
Sorry. This is going to achieve exactly what was intended. Almost no bids, and the ones rock-bottom. Bad publicity, resulting panic selling. Bitcoins of the people going to the hands of banksters cheaply. But really - what else did you expect?
That is an interesting take and I gave the sale little thought. But why would the government do the auction so quick? Would they want to receive top dollar?
As usual, seems like they are up to no good.
It will be interesting to see the results of the auction and if they give up who the buyers are, which I doubt. I'm sure other government agencies will be hiding behind fictitious names here...
Regarding the price action yesterday and today. The move down had huge volume and the bounce up seems to be light. I'm afraid this is just a bounce.
That said, I think big money does not let this sink (for any lengthy time anyway) below 550 ish. Flash crashes are very hard to enter on, and I think
that will be the low points. I highly doubt we see lengthy sideways action down low. Big money probably going to protect it's investment.