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Yeah, but yesterday the same was true when it got to $100 or so. After a crash, there are always enough hopeful people to support a price for a little while, be
by lambda 14y ago
Yeah, but yesterday the same was true when it got to $100 or so. After a crash, there are always enough hopeful people to support a price for a little while, before it starts sliding down slowly again, until it reaches its next plateau.
I would expect this to get back down under $50 again (and I think even down to $30-$40) before it makes any kind of real recovery.
But of course, I'm guessing as much as anyone. I just wish I hadn't been busy at a trade show this week, or I would have sold when they were in the $150-$200 range.
- laichzeit0 14y agoRight now there are no trading fees on Mt.Gox until tomorrow. This probably gave (a) the guys with automated trading bots a field day to tweak their algorithms and (b) Mt.Gox a chance to take advantage of this to see if they can handle the increased load in trading. My guess is that there's going to be a last minute scramble to buy before the trading fees get reintroduced probably pushing the price up a bit. When trading fees go in there might be slightly less liquidity, compared to yesterday and today. Entirely speculative on my part, but plausible anyway.
- maxerickson 14y agoOh, I'm amazed by it. My baseless expectation is that it will certainly go under $50 and stay there for a while.