BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
428 5 8
When we had the Mt.Gox drama it took about 18 days before we had a final selloff (with big volume ) followed by a reversal. I expect to see something similar play out with this "China Ban" overhang.
This is bullshit. Furthermore the market has already integrated the China Ban.
At 800 in January people have been saying that the China ban has been priced in. Looking back at it now it looks ridiculous. Maybe we are at a similar situation right now.
That's not China that essentially makes us where we are today. It's Mt.Gox that creates a big confidence crisis and it's also the IRS taxation. China is already clearly priced in. If China ban actually happen, the price would not suffer much more, it would stagnate or drop only a bit.
totally agree with Miroth .
Don't underestimate the power of fear & panic.
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