 |
April 25, 2013, 08:38:46 PM |
|
Most of the time, there is a gentle give and take around a relative mean value.
Then there are time where there are waves of selling, more selling, selling on top of selling, driving the market down. Perhaps bot traders readjust positions automatically since it seems that the action is too fast for human traders to okay a substantial role other than panic sell.
Alternately there are waves of buying, where market sentiment turns around and buyer-bots find a price point irresistible. Then the wave gaps up, scooping cheaply priced coins.
bitcoins are a unique item, where the costs to mine are well known and defined. They are desirable for speculative reasons only since utility is marginable right now. And with a relatively thin market, a few million here or there can move it sharply.
We are seeing this now, and we will see it again.
Long live the free market along with its manipulators!
|
