Highers transactions means more users, but if they are not willing to buy then it doesn't mean price will go up. People like to invest when price is going up, and when they look last year chart they get scared as fuck. This users will probably buy, but they will feel the real urge to buy when bitcoin is 2x or 3x over ATH because bitcoin will be "cool again" and they won't want to "miss the train".
And I'm also convinced it is growing faster because people are sending more bitcoins to exchanges and expending them, adding more selling pressure.
I think bitcoin will have a shiny future, but it will need time to develop, maybe 6, 12 or 18 months. It is not magically goin to rally like lot of people think here.
but what if higher transactions translates to more coins being bought off exchange?
that sound like a pretty bullish scenario would you not agree?
What?
Are you telling me if Satoshi comes and dumps off exchange 1 million bitcoins would be bullish for the price because lot of people would be buying?
When you sell something in the other side there is a buyer... that's granted. But what matters is sellers to buyers ratio. If you have more sellers price go down...
That's pretty simple, dude...