Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
As the price declines, it becomes easier for brokers to negotiate lower prices on behalf of their clients to buy bitcoin in large quantities outside the exchanges. We are witnessing a transfer of wealth. The exchanges are so thinly traded that a large institutional trading desk could move the entire bitcoin market. These large corrections have been a part of bitcoin's entire price cycle.
Highly likely. A lot of coins are moving around at or below these prices off exchange. Once this new accumulation has taken place then something like the ETF will be announced or EBAY will directly integrate btc or something and its off to the races. A mania can be whipped up in bitcoin in a few hours of concerted buying. If people think half a billion dollars of VC money is being thrown at bitcoin and noone has thought about the profit potential from actually taking large positions in bitcoin itself then you are in for a surprise.
Edit: though I wish they would hurry up about it..
You mean like all the amazing panic buying that happened this year with the announcements of Overstock, NewEgg, Dell, Expedia, Square, Wikipedia, United Way, and now PayPal???
It's getting pretty obvious that good news is not creating a panic buying stampede. In fact, I FEAR one more big good news announcement this year and PRAY that it never happens.