Paypal news as everyone is aware of, is good. It is good for adoption and good for fundamentals. As a technical analyst, I pay special attention to how market reacts to news. Lets be real, the ad is a BFD, big fucking deal, for rumors-ville, it pretty much suggest they will start adapting bitcoin into their existing business model. For a high speculative interest product like bitcoin, "buy the rumor, sell the news" works pretty darn well.
With news like this, we should rally like crazy including a e-parade in my opinion. How did the market react? Rallied shortly and took a dump within 3 hours. While a sustained rally could take a long time, my point is that market reaction to this great piece of new was disappointing.
Related anecdote story on trading and stock market reaction:
On a related past experience, I was ar...
I do daily bitcoin market updates. Follow me on my bitcoin trading blog or live trades on twitter: ibankbitcoins.com @ibankbitcoins
With news like this, we should rally like crazy including a e-parade in my opinion. How did the market react? Rallied shortly and took a dump within 3 hours. While a sustained rally could take a long time, my point is that market reaction to this great piece of new was disappointing.
Related anecdote story on trading and stock market reaction:
On a related past experience, I was ar...
I do daily bitcoin market updates. Follow me on my bitcoin trading blog or live trades on twitter: ibankbitcoins.com @ibankbitcoins
