"Did you mention that we're very close to break our longterm trendline? Even if we just move a more sideways it's gone, and ppl will be ready for a strong selloff.
....so how does it came up the action. If the coins where bought in the auction to the same price like on the market there is still a high chance that we could break the by just moving sideways. Simliar if they buy a little bit over the current market price.
That means that there are ony 2 options how they can bid without these risk.
First buy much higher then the market price and build a catalyst.
Secound buy much cheaper then the market price. The market will just crash into the bidding price. They have more coins and not that risk of loosing money by failing trend.
But don't they want the coins, I mean really want, so that they may accept to bid hihger, much higher prices?
No, they can already buy from the miner, or just wait for the secound auction if the first one failed for them.
I mean this are "just" 29k btc (in 11 days mined coins is + - the same amount)
Next auctions should be comming soon. Which also means, more coins going into the "market". ....."