Post
Topic
Board Economics
Topic OP
low price because of repeated large sells
by
speckman
on 17/07/2011, 06:01:01 UTC
Pardon me if this is obvious but...  I feel like one of the main reasons that the price of bitcoins is hovering around 14, rather than at IDK, 30, 100 Smiley, is that there are massive sells every so often.  I'm not entirely sure that it's just one seller at a time, but it sure looks that way when I look at the charts.  The price will be fairly stable, and then there's like $100K sold in one minute, and the price will drop 50 cents or a dollar.  It will slowly recover, surely greatly helped by massive buys at some point.  But I feel like it can't get too high because these massive sells always sweep out all of the buy orders. 

So it seems to me that there are a few players, whether they're early adopters or big speculators, who are keeping the market a lot lower than it would be otherwise.  Mostly because they can't be bothered to sell small amounts at a time.  And if any of them read this, please spread out your sells a bit.  Smiley