The price won't continue to rise if nobody is selling, it's idiocy to assume this.
What will happen is people will stop buying.
There's only one thing that follows this and it's not 'to the moon' or 'trending to infinity' as I've read on these forums from some people - it will crash and crash hard.
What will happen is people will stop buying.
There's only one thing that follows this and it's not 'to the moon' or 'trending to infinity' as I've read on these forums from some people - it will crash and crash hard.
Quoted to be revisited later.
Perhaps you would like to clarify some figures and time frames you see it "crashing" to?
I have no idea but it's clearly unsustainable in the long run.
Apart from a few 'whale buys' there's not much action / volume lately. The price rising on low volume is not a good indicator for continued rises.
Look at the volume on this chart over the time period of the recent price rises compared to the previous rise into the ~$146 range
The recent volume is tiny compared to the last time the price rose to this range. The last time this happened on pretty high volume and it still crashed hard.
This time it happened on low volume which suggests to me that there's not much confidence in the market.
The recent rises happened due to a few isolated 'whale buys'.
There will be blood !