BTCE:BTCUSD Bitcoin / Dollar
I am still not good enough to be able to explain my charts, like a teacher, but I know there are people who trade with the "news" and I know some others absolutely want to see a chart to reflect what is happening "in real life" , in other words, the news.
I have read many complaining or at least wondering : "but why price is going down !? What the heck is going on ? What kind of bad news is doing it to the price ?"
I don't read the news that much but to my knowledge nothing really bad happened lately and still according to what I could read here and there, nothing particularly good happened either.
So why ? What is this big secret news that is causing the price plunge deeper and deeper ?
I will tell you , here is the headline "MtGox is dead" !!
I know this doesn't sound like a scoop anymore for many this is more like ancient history. An old story on the web history book and hard blow delivered on Bitcoin's World. A quick hit , which also seems quiclky forgotten by many. That's in my opinion a big mistake to forget or neglect this event instead of forgetting this should teach us how history and past events impact what is happening in the present and then leads to what will happen in the future.
If you still don't see the connexion with MtGOX let me recall you briefly what happened there. In few words, about 700000 (or was it 800000 ? it is still not very clear) of got lost by MtGOX (lost or stolen or god know what happened ,this also is not very clear).
This historical event in "BTC small world" made many people loose a LOT of money ! Some of these people were really big investors. Whether , they were single individual, groups of people or companies, they lost A LOT of money!
And you know what ? They still haven't recovered from their losses they did not get any refund , and nobody gave them any help, compensation or anything like it (actually, with a bit of luck, they might get some kind of refund someday , but when ? or how ? This too is still not clearat all)
Then , here is your big news , and in my opinion the reason why the price keep on going down.
Do you think the people who have lost what they had on GOX are ready to reinvest right now ? I am one of these people so here is my answer "Absolutely not ! Not now , and certainly not at his price!"