Re: CryptoBiz Magazine Cover! | Cryptogenic Bullion | CGB
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Two: Comments, please: ten minutes ago, I was talking to my trader about analysing this: Bitcoin and Friends drop in price on the spot when bad news surfaces -- arrest of Dread Pirate, The China Thing, Gox -- but it doesn't spike on good news. For example, acceptance by Dell computers is great news.
Mark, Australia
Mark, Australia
2. Trust comes on foot and leaves on a horseback.
Adoption doesn't necesarily raise the price on shortterm, it would be based on hype and enthousiasm which is often full of empty air, it's about real usage, spending and saving longterm. Someone buys a bitcoin, buys a computer, Dell sells a bitcoin, it could even out and do nothing to the price. But they may want to hold a reserve so could be selling a little less bitcoins than they receive. If all customers also keep a little extra in the wallet... it all adds up and slowly makes less btc available on the market. Ofcourse all the news that comes out around the big company helps to attract more people to learn about bitcoin, plus offering 10% discount when using btc is like a honeypot. It does take time to grow. Many pumpage is proven false and the prices get kicked back to where it should be based on natural growth.
Agreed. It could even be price negative depending on how they are accepting the Bitcoin. If its being sold for fiat immediately, this could actually provide a negative price pressure to balance the positive news.
Getting hammered on bad news and hearing crickets on good news is something that reminds me of the gold and silver markets since the spike in 2011. It has been nothing but a managed decline since using a similar pattern. It's hard to say anything for sure, but we can almost safely assume that anything which can be manipulated at this point, is manipulated out of necessity. As with most things in our society right now, its 100x more important that something looks good, than actually is good. As we are on the edge of dollar collapse and the rise of the next big monetary system, its important to the kleptocracy (see video posted just above
) that the existing infrastructure be made to look attractive, while all alternatives like gold, silver, and CGB are hammered to simply look bad.papersheepdog, Canada