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Author Topic: It takes 1.25 million USDs to push the the price to 21.5 USD/BTC  (Read 2851 times)
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July 17, 2011, 09:48:26 AM
 #21

Well you as the seller define the price. The buyer is always bullish. Every time you sell some bitcoin (in the "hope" that the price goes down), you sell it to someone who thinks that the price goes up. So basically every buyer thinks that the price goes up. Or to put it another way, half of the traders think that the price will go up. Only the sellers keep the price low.
So the conclusion for sellers should be, that whenever one can sell at a certain price, that price was essentially too low, because whenever one buy at a certain price, this one thinks that it will go up, and therefor would have bought at an even higher price.
If that's true then so is the opposite, but I guess most people here are too biased to see that.
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