Thats just what i thought - why can't just everyone stop selling under 680 $ :-)
Funny thing is: Buyers could do the same and just stop buying above 30$. And then?
Price will stay high and buyer will buy bitcoins at high, if they need bitcoins.
LOL!
Why not?
Price will stay low and seller will sell bitcoins at low, if they need moniez.
And believe me there are way more desperate miners out there that need to pay their bills with BTCs as there are buyers who are in a desperate need of BTCs.
Market price moves from traders not from individuals selling bitcoins for cash.
You dont get it do you?
Whats proposed here is basically a sellers strike. There is absolutely no reason why there shouldnt be a buyers strike possible too.
When you have got two parties standing in front of each other and one is demanding 640$ and the other is offering 30$ it comes basically to the point who is willing in to accept the others side offer first.
And there is absolutely no reason why this side should be the buyers side!
Bitcoins cant be compared to corn, wheat or whatever where there is a basic demand for. Nobody NEEDS Bitcoins.
You said it yourself, basically its all just traders. Nobody of those traders really NEEDS Bitcoins.