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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion January 03, 2015, 07:18:30 AM #206116 Quote from: gog1 on January 03, 2015, 06:54:54 AM Quote from: ejinte on January 03, 2015, 06:51:59 AM Quote from: ejinte on January 03, 2015, 06:48:37 AM good idea to go long now?



opened, let's see

opened, let's see

still remembered the 30k BTC sell wall at $300 that got gobbled up ......



the support at $300 should be quite strong.

still remembered the 30k BTC sell wall at $300 that got gobbled up ......the support at $300 should be quite strong.

It seems a lot of volume rushes in at these levels. That being said, there will be no slowdown in production till 2016.



I can imagine a scenario where the persistent, relentless selling from institutional miners will discourage bag holders who got in recently (within the last year) and they could indeed dump their bags and make a bad situation worse.



It's like a war of attrition. What will run out first? Supply of new coins from sellers incentivized to sell at almost any price? Or supply of fiat from buyers who believe in the long term success of bitcoin?



This could be a long and ugly battle.



It seems a lot of volume rushes in at these levels. That being said, there will be no slowdown in production till 2016.I can imagine a scenario where the persistent, relentless selling from institutional miners will discourage bag holders who got in recently (within the last year) and they could indeed dump their bags and make a bad situation worse.It's like a war of attrition. What will run out first? Supply of new coins from sellers incentivized to sell at almost any price? Or supply of fiat from buyers who believe in the long term success of bitcoin?This could be a long and ugly battle.