MT finally stopped trading.

If MT had chosen to stop trading immediately when the problem of Bitcoin withdrawal occurred, Bitcoin would not have dived so much, because to cease trading is the best way to eliminate panic and reduce the losses.

The restructuring information of MT on the internet is not published in the official website of MT, so it’s not trustworthy.

For me, the only fact is: Trading has stopped in MT.

The market maker once again took advantage of MT (maybe the last time) to punch the price to a new low.

The punching was executed on Bitstamp, just at the sleeping time of Europeans and Americans, Chinese are unlikely to sell low on Bitstamp.

So the punching was made by the market maker, at the time when all potential buyers were asleep. When the Europeans get up, price will rebound, the market maker will begin to absorb coins.

Indeed, I’m not that imaginative as the market maker, so I missed chances in this wave. After the collapse of MT, we don’t know what other tricks the market maker will play to cause further panic among Bitcoin community.

In addition, let’s draw an analogy, if a bank goes bankrupt, what would you react? We would rush to other banks to get our money out, rather than to exchange our money for other currencies.

Therefore, if all guys are rational, they would withdraw their coins and money from trading centers, rather than sell low.

Of course, because I am too rational, I am locked ......

However, when the panic ends, all people will become rational again, they would withdraw their coins and money.

After the withdrawal of their coins, less coins will be available for sell in trading centers, market makers will find it difficult to absorb coins. A little buying can lead to a significant increase in price.

Litecoin dived sharply, much more than Bitcoin.

Doge went down, too. Worse still, DOGE: LTC exchange rate dropped below the hashpower equilibrium of 0.0008, so it will decline for a long time.

IFC declined less than Bitcoin. A lot of coins were traded.

Because of this MT event, we need to adjust our criteria of buying altcoins. Rule NO.1: the coin should be available on at least two well-known trading centers. This way, the coin will not die if one of the trading centers went wrong.

Cryptsy’s problem is very serious, may be as serious as MT, it may collapse at any time.

Here I’d like to remind you again:

Never put your money or coins in trading centers. Trade immediately after money charge, withdraw your coins immediately after transaction.

It is also suggested you make big transactions part by part, each part has only a small amount of money, trade your parts one by one, do not trade the next part before you’ve successfully withdrawn in your previous trade. You can also lower the risk by trading simultaneously on different trading centers.