Wow, after posting a question wondering what would happen in a zombie day, whereby nobody trades, access, sell, bitcoins. Wouldn’t the exchanges be deserted and wouldn’t algorithmic machines face off with their own demons and either starts to buy or sell frantically in both directions.
A crazy seller who would risk their life going outdoors during this period could make huge gains since nobody dare to even store their coins in exchanges.
Exchanges therefore are totally drop dry. Not a single coin. Very scary.
Well someone replied and said it is Bitcoin Nyepi. In Bali, Nyepi is a day of silence and a significant day in their calendar. Nobody is allowed outdoors. No loud noises, music, TV nor bright lightings. The airport is closed for a full day.
It is a day of contemplation. Reflection.
1st of August is not truly a day of reflection. It could be a day that bitcoin has no price discovery. Since no one is willing to trade or offer to sell, nobody wants to buy. With those market conditions, it could translate into zero dollar for the price of bitcoin.
It might be a so called reset. Just imagine all the scenarios. Nobody can sell. Nobody wants to buy. That means price is zero.
If exchanges are fully market driven, it will reflect that value. Zero. And people would be going insane and not contemplating nor be quiet.
The day after tomorrow, then millions might want to sell seeing it is not volatile but zero. That will cause another chain effect and the price will remain low.
Or it could go the opposite direction.
Whatever it is, economic literature don’t and won’t apply. Bell curve. Averages. Candle sticks and stones. Law of averages.
In the Day After Tomorrow movie, finally Americans had to beg Mexico go allow them to cross into their soil, and erasing all debts as part of the deal. So what good is a wall, virtual or physical, now that crypto currency will empower the citizens directly and not obsessing with the labeling of human cattle – tax payers.