I_bitcoin
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December 19, 2013, 02:38:30 AM

This week was the perfect storm.  We have a bunch of people that need to cash out for Christmas (I know not everyone celebrates Christmas but I think many do Wink )  couple that with the China fiasco and we have a nice big crash.  Just thankful it was not worse really.

Next week there will be Christmas money flooding in, and a few people that want to buy before the end of the year for whatever reason, (Perhaps because Second Market is giving a discount on fees if they buy in before the end of 2013 for one example)

It will go up before the end of the year.  I have no doubts.



I think you nailed it



I am giving bitcoins as gifts.  Suspect a certain fraction of those will be immediately transferred to FIAT.   Perhaps a few will hold and use for "real" as either an investment or used in the economy.   

Not sure if I am a good sample but this would then follow with a Christmas "sell."   I would give it a few weeks after Christmas before the behavior settles into a more understandable trend.   

Then again, who knows, maybe we will all be hunted down by the 'leet financial termination squads in our local regimes and the value will go to zero Smiley