Quote from: MatTheCat on April 18, 2014, 12:42:37 AM

Quote from: nkocevar on April 18, 2014, 12:36:05 AM

Couldnt they make more money in the long run if the price of bitcoin continued to rise? They could pump and dump as much as they want even if the price sits at $1000/BTC right?

Yes indeed. But for Bitcoin to get up to $1000, there has to be enough buying pressure in the market to soak up all the Bitcoins that are for sale between this price and $1000. Where is the interest in Bitcoin going to come from? Is a whale going to use his wealth to ramp the price up to $1000 being lumbered with all those expensive coins only for the organic market forces to bid spot price right back down leaving the whale seriously underwater?

Whales will try and pump the price as high as is required in order to maximise their profits. Selling at a high as possible price is how the best profits are made.

Couldnt the bitcoin price being driven up also put more buyers in the market for BTC?