Quote:
Originally Posted by Ulic Qel-Droma
I'll just leave this here... again
technicals my friends.
technicals tells you the future as it happens.
fundamentals tells you the past after it happens. |
Ulic I appreciate you contributing your knowledge in investment, but what you are showing off here is pure fluke.
The reason for the current drop is an acute reaction to a pretty big issue many exchanges are having, and a flood of 70K bitcoin or so stolen from silk road 2 onto the market
Basically, there is a known issue in the way bitcoin works, in that unconfirmed transactions can be use to 'trick' certain wallets into thinking they are new transactions. This isn't an issue for most wallets, unless the programmers are (wrongly) using unconfirmed transactions without any extra checking. This is called transaction malleability (or something like that)
So Mt Gox, the trainwreck I have been warning everyone about since the beginning, of course uses shitty code, and was being exploited by people using this method. They shut down withdrawals completely, and the market reacted. A few other wallet apps and exchanges had to do the same thing, and the market reacted again.
Sorry but if it wasn't for this issue, your charts wouldn't match up at all. It would still be humming along at around $750-800. Nothing about this price drop corresponds to what you are saying at all. Enjoy your "thanks" from the usual bitcoin haters though
