When price goes down People say xx sold their thousands of bitcoins so price went down
Stupids, if they sold it, someone bought it too..
When price goes up, people say, someone bought thousands of bitcoins so price went high
Stupids, they bought it because someone sold them..
Now tell me why price goes up down.
Ironic that you have posted this in the Economics section yet clearly have no understanding of the Economics of any market, let alone Bitcoin.
Here is why price moves:-
New information
Uncertainty
Psychological Factors
Fear
Greed
Supply and Demand
Many people are not so stupid, just guess wrongly.