Quote from: candy27 on December 10, 2017, 02:08:44 PM

Quote from: Aamir1 on December 10, 2017, 11:36:45 AM

Now when the price dropped from $17k to $14k after the unconfirmed transactions reached 120k from 220k before a day, i think maybe you are right that the reason for it to stay at that level was almost because of the unconfirmed transactions. Though i don't understand the logic behind how it can be possible for the price to stay high because of the unconfirmed transactions because this thing almost stops people from making transactions and a very few people do transactions in these situations when the fees are extremely high. And when there are less transactions, it should make a negative effect instead of making to go even more towards positivity.

It's because the people who want to sell, and have sent coins from their hardware wallets to the exchange, can't sell their coins because they are stuck in the mempool.

Fiat transfers to the exchanges are happening quick, but bitcoin transactions to the exchanges are happening very slow. So people are able to buy (with fiat) but can't sell (as their coins arn't on the exchanges).

The mempool dropped as the coins hit the exchanges - and those people then sold, taking BTC from $16,000 to under $14,000.

That theory has a lot of holes in it.
First if you are keen to sell at high price you won;t be looking at a 5$ difference in fees and you're going to pay what is needed to get confirmation in the first block.
Now, if you consider the fee too high on how much you want to send it means you have less than 0.05 and in this moment your influence on the market is null.

Bitcoin price has dropped not because of coins hitting the exchange, you should really check the volume , on bitfinex is almost half of what it was during the last rally.

So no, the tx flooding the mempool would not have affect the price immediately but on the long term they again started the dabate about fees,speed,LN,bch which might hurt BTC price.