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Any news, no matter what it is, immediately causes panic selling. So, short term price drop. Then? Who knows?
by fnordfnordfnord 13y ago
Any news, no matter what it is, immediately causes panic selling. So, short term price drop. Then? Who knows?
- tlrobinson 13y agoExcept that it's up slightly since this news was released.
- dragonwriter 13y agoWell, yeah, since its negative news for the expected future value of USD balances currently held on Mt.Gox, the natural result is, at least in the short-term, a drop in the value of USD on the Mt.Gox exchange, which, ceteris paribus, implies a rise in the BTC:USD exchange rate on that exchange.