mccorvic
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October 29, 2013, 11:43:44 PM
Last edit: October 30, 2013, 12:02:48 AM by mccorvic

You're speaking as if "new blood" exists in a vacuum outside of the rest of the market, as if traders haven't been speculating on this news at all. That's ridiculous. Sure, new blood is entering the market. Much of it won't have gotten money to the exchanges, either, by the time we see a reversal. But, according to your theory, because of news they read last week or last month, they'll keep buyingbe more inclined to buy. Right?

You're actually supporting my point.  

#1 is the time delay you mentioned.  We really don't know what the incoming money will look like, be it flood or trickle.  Traders have been proven time and again to not have any ability to tell the future than anyone else so they cannot "price in" anything.

#2 people won't buy anything the first time they hear of bitcoin.  The odds of them starting up increases with sustained and interesting news articles.  No one here yesterday thought the bitcoin-buying-apartment story would be front page reddit material today.  Who knows what news will come out tomorrow.  Will the price go up $100 because this creates a ripple that will eventually catch the eye of some uber whale? I dunno. The "traders" don't either.  

EDIT: Though, if we really are talking about the news from a month ago, then I could accept that the price could be mostly set in.  I'm talking more about this general surge of news we're experiencing now.