Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I see a lot of people posting that the reaction would be negative. Lets just hope it isn't so.
That's what they did last time, and we went up %50.I remember, at the announcement time price dropped from 660$ to 620$, in a moment of craziness.
Then it bounced a bit but kept falling down to sub-550$. Then it recovered to 630$. After the auction ended,
it collapsed down to 500$, culminating in that 'flash crash' to 450$.
Having said this, i don't think these events are relevant per-se. But they are used by market makers to justify
big movements, and that is what i'm waiting for...
You're right, I conflated a bunch of ups and downs in my head. I see it went up $50 the day before only to drop a bit and flatline until the end of July when we were treated to the spiral of death for some months. It stayed around $600 until August the 11th though, but by then I don't think the auction had much to do with the mid-August crash.