price is rising as a reaction to someone trying to buy a lot, that is all.
Agree.
once hes done buying.... price is going to go back down to about 7 - 8
Disagree. After he's done buying, the number of coins available/on the market will be half a million dollars worth fewer. It's unlikely the price would settle so low after so many on-market coins are removed. Also account for lingering speculative froth from participants knowing a rich guy has bought in to the system. And there will be more rich guys...