Silk Road Auction, and the Impact on DRK Price ,27 June
- Thread starter doge_kz
- Start date
Lzeppelin
Active member
As far as I know they are auctioning off all the BTC to one person, so unless that one person decides to convert some of his new BTC to DRK probably nothing will happen.
N
nj47
Guest
They are auctioning it off in blocks. I believe blocks of 3000. That being said, no one buying it there will be planning on dumping it. I honestly expect a small price decline followed by a decent sized increase. The logic being there are a lot of people expecting major decrease, when that doesn't happen you're going to have people rushing back in, causing a panic buy situation, which forms a positive feedback loop.
recan86
Member
People only get scared when they don't know enough about something. The troll boxes will be spamming the crap out of any FUD and when the time is right and those who are informed will buy low (again) while the less informed panic sell and loose money (again).
Rinse, lather and :grin:repeat. Seriously it makes you wonder how some of them have managed to stay alive this long. :what:
Red-Shinobi
Active member
I say up also.
Auction fever is absolutely a real thing on top of the fact that buying that much coin in one go at one price has value above the regular market price. Plus the legitimacy and publicity for bitcoin coming directly from the government.
However it goies i think drk will do the same as bitcoin with a fews hours delay.
Yeah, the fact that the US Goverment is trading in BTC, even if it is to get rid of it, is quite big. Now they can't talk about tough regulation if they are the biggest trader
I think it's natural to see a price drop before the auction. The bidders in the auction all have to put up $200k before they are even allowed to bid.
These are big whales in the BTC arena so they most likely already control a large proportion of the market for BTC. By their own actions they can drive the market prices for BTC and hence bring the prices down prior to the auction to receive more favorable pricing for the auction.
We will see a short term increase in the price of BTC shortly after the auction so that theses bidders can ensure a nice profit from their spoils... Once this all shakes out BTC will once again stabilize and slowly gain back some of the past weeks losses.
Overall the prices of BTC have a direct impact to the prices of all digital currencies. DarkCoin will follow the BTC prices and will eventually get back into the mid teen prices within a month.
If you want to gain in this market then follow the whales.
These are big whales in the BTC arena so they most likely already control a large proportion of the market for BTC. By their own actions they can drive the market prices for BTC and hence bring the prices down prior to the auction to receive more favorable pricing for the auction.
We will see a short term increase in the price of BTC shortly after the auction so that theses bidders can ensure a nice profit from their spoils... Once this all shakes out BTC will once again stabilize and slowly gain back some of the past weeks losses.
Overall the prices of BTC have a direct impact to the prices of all digital currencies. DarkCoin will follow the BTC prices and will eventually get back into the mid teen prices within a month.
If you want to gain in this market then follow the whales.