The BITCOIN thread

[KoRnholio]

I'll go on record saying that we are currently in the denial/bull trap. Might be a mini-peak back to $1k before the early/heavy holders all start selling out, crashing everything.

Think of it. If you have been holding bitcoins since they were below $100, saw it peak at $1200, drop to $500ish, then back to $800-900... Wouldn't YOU start heading to the exit?

And given that such a high percentage of bitcoins are in so few hands/accounts, it won't take many of those sellers to drastically drop the price.

[pocketfours]

And given that such a high percentage of bitcoins are in so few hands/accounts, it won't take many of those sellers to drastically drop the price.

It won't take them long at all, which is why they can't all panic sell without totally crashing the market. I doubt anyone is willing to sell much below $400 so my guess is that btc will see saw between 400 and 1000 for a good while until most of the unloading to new entrants is complete. After that the future of bitcoin is completely up to the amount of new business being created around it.