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Board Beginners & Help
Re: what causes the price to drop?
by
holy_cow
on 09/04/2013, 19:27:59 UTC
What causes the price to drop?

If many people sell at once the price will drop - is what I hear, but if people are selling, aren't people buying those same BTC?

If you look at Mt. Gox or VirCurEx then you will see there is a sell price and a buy price.  The sell price is what people will buy them FROM you.  The buy price is what it will cost FOR you to buy them.  There is a gap between these two numbers.

There is a limited number of coins at each price.  So if the minimum buy price is $200 and I buy all the coins that were priced at $200, the price will go up to $201 (or whatever the lowest buy price is).

If no one is buying at the $200 price, eventually someone will try to sell at a lower buy price.