Post
Topic
Board Speculation
Re: Do you think U.S. Marshall auction 29,656.51306529 bitcoins will affect price?
by
kwukduck
on 20/06/2014, 08:15:08 UTC
Anyone who thinks this will not cause a crash is nuts.
Think about it, 30k btc will be sold super cheap, maybe anywhere between 50-80% of the current market price. This by itself won't have an effect, but as soon as the buyers receive those coins they will be dumped on the regular exchanges to take that difference as profit and we will see a big drop.
This drop will in turn cause a panic sell-off, so i suspect we'll end up anywhere between 200-300 USD soon. We can already see it coming down the past days, fear is grabbing a hold of people already even though nothing has happened.