meanig
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December 11, 2013, 05:13:26 PM

Hahha nice rally going on once again Grin

Theorize with me here, I've heard some grumblings if we don't attack the ATH this week blah blah we'll regress by the weekend. I believe another sell off Friday or over the "weak-end" would require some bad enough news or be easily misinterpreted. That being said I would like to just see us consolidate for a whole week and move horizontal which in my opinion would confirm were building a base for our next liftoff.

Stress tests on the Slovenian banking system will be released on Friday evening. Speculation is that the government will have to find 4billion Euro from somewhere to recapitalise its banks. My guess is that they announce a bail-in on Saturday morning (the Cyprus bail-in was also announced on a Saturday morning). Fuck knows what that will do to Bitstamp and the price on other markets.

If memory serves and for what is worth Bitstamp's bank is italian.

Bitstamp is a UK registered company with a Unicredit Slovenia bank account. Unicredit Slovenia is owned by the Italian parent company Unicredit but since they have a Slovenian banking license they follow Slovenian laws. Maybe they'll escape the shitstorm because they have a big parent bank or maybe they'll be dragged into it by the politicians to appease voters that foreigners aren't getting off lightly.