People more likely to buy if price goes up or if price goes down

[imapessimist]

I don't understand why people would buy at this price which is quite high for the last month or so.  Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?  Or could it be faked.

[cpfreeplz]

People are buying at every price. Wtf are you going on about lol? We're still at about 50% of the ATH so it's still a bargain. We won't be staying here too long. Don't get used to it. Also, 6k!? Lol yeah right. Never again in our lifetime.

[Eternu]

I don't understand why people would buy at this price which is quite high for the last month or so. 

People are buying when price is going up because they missed moment when price was nice and low, and because they think it will continue to rise.

Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?

There is chance for price to hit $6k, but they are low. People are buying when they think the moment is good. Depending on the situation, probably most people would buy if another drop like last one occur.

Or could it be faked.

Value of bitcoin can't be faked, which means people are buying it.

[arpon11]

I don't understand why people would buy at this price which is quite high for the last month or so.  Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?  Or could it be faked.

The reality is that people tend to buy into an assets when the price is low and sell them when it is higher. But in trading there is what we called a breakout in price and when that happened in the up trend it means big investors are putting in big money and that will pump the price high to another level of Fibonacci extension. What is happening now is that traders have stated to build confidence Into the bullish trend we are witnessing now.

[batang_bitcoin]

I don't understand why people would buy at this price which is quite high for the last month or so. 

What do you think about those people who even bought at the highest price that bitcoin reached? $19,000. We can't understand the reason why everyone is buying aren't you grateful that the price is moving up? As long as an investor decided to invest and he can avail it, why not buy at any rate if he believes that the price can go further?

Or could it be faked.

It can't be faked.

[Hazir]

I will tell you what is going on here, people en masse were swept into a mob psychology, irrationally throwing their common sense to the wind and buying when there is hype in the air.
It is easier to follow the mob when there is euphoria in the air and bitcoin is rising, you can relate to other people and share the positive emotions with them.
That is the reason it is so easy to buy bitcoin when the overall market sentiment is positive, and so few people are taking advantage of the crashes, declines and moments when FUD is circulating in the air.

[aso118]

I don't understand why people would buy at this price which is quite high for the last month or so.  Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?  Or could it be faked.

The market price reflects the price at which the number of sellers (actually the volume of coins offered for sale) matches the number of buyers. This is basic economics. The price has risen because more people think that Bitcoin is undervalued, are purchasing bitcoins and pushing the price up. If people are buying when the price of Bitcoin is $11,000, it is because they expect it to go higher.

[imapessimist]

I think Bitcoin is massively overvalued.  But I suppose people must know what they're doing.  Somebody else I spoke to said the same. 

[liseff3]

At $ 6,000, it seems they are afraid of a deeper decline. And now many people buy it, because at this time bitcoin often fluctuate toward the price improvement scheme, and there will be seeds they can take.

[fabiorem]

This price is low. People will be more likely to buy if they see it increasing.

[richardsNY]

It's actually very simple, an increasing market makes the average people (dumb money) gain confidence, and that confidence is strong enough to make them buy. From their perspective everything is black and white, meaning that an increasing market represents a good market, and a decreasing market represents a bad market. Smart money however gains confidence when it comes to buying at the time the price is going down, because that at the end of the day grants you the best possible profits. It's a difference in mentality that seperates losers from winners, because when dumb money finally pulls the trigger and starts buying, it's more often than not very close to peak levels....

[pixie85]

People are buying at every price.

And they are selling at every price too.

Wtf are you going on about lol? We're still at about 50% of the ATH so it's still a bargain. We won't be staying here too long. Don't get used to it. Also, 6k!? Lol yeah right. Never again in our lifetime.

And we're at 300% rise since Spring 2017. You're right that we won't be staying here for long but I don't see any reason to disregard the possibility of retesting the lows again before we go up.

[tomahawk9]

I don't understand why people would buy at this price which is quite high for the last month or so. 

People buy BTC at any price, after all, for most of them buying BTC is an invesment, so there's no other reason to buy right now other than the expectation of benefits in the short-term or long-term. Also, to many people the current price represents an opportunity (entry point) before the next bull run begins (given how there's a bullish sentiment in the market right now). People look at the current uptrend and think it'll keep going up (FOMO), meaning that more demand = higher price.

Would people not pile in and buy if the price went down to 6k. 

Like I said, this uptrend could mean that price will keep going up so it's better to buy right now than later when the price reaches 13k or 14k. If it goes down, well, doesn't matter since there's a high chance that the price will go up in the long-term.

[aardvark15]

I don't understand why people would buy at this price which is quite high for the last month or so.  Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?  Or could it be faked.

I don’t know the answer but it’s pretty obvious that serious investors that know what they are doing will mostly buy when the price is low unless they have lost confidence in a particular coin.

We also know that newbies will try to jump on the bandwagon and buy when the price is high in hopes that they can get in on the gains. Then they tend to sell as the price is dropping to cut their losses.

[Slow death]

I don't understand why people would buy at this price which is quite high...

Who is buying at this price?  Or could it be faked.

Good question, I've separated the questions to make it easier. Let's see why it was that people bought it when the price was $19000? this is the same question that you asked, I added a number to be easier to explain.

Future Bitcoin Price $25k is Conservative Estimate: Tommy Lee

“Today, that allocation is much greater, it's closer to 10 percent or 15 percent in some portfolios. So, at a five percent allocation it would value Bitcoin at $25,000. You could easily get to $100,000, $200,000 numbers.”

Bitcoin Destined For $28,000 In 2018 - Moas

“My target for 2018 is $28,000 and it may get upgraded again in the next few months.”

People read analysts' optimistic comments and They are convinced that any price below $20,000 is very low, so they can buy at any price below $20,000

[vhiancs]

I don't understand why people would buy at this price which is quite high for the last month or so.  Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?  Or could it be faked.

The price of bitcoin has never been faked and everyone has their own method to earn bitcoin currency so you can not do anything if they buy at the current price of bitcoin maybe they have a good strategy to grow bitcoin they bought. if you notice the current price of bitcoin is $11,000 for the person who have been long in bitcoin world they can say that it is cheap price because the previous bitcoin price is $ $20,000.

[RamonBTC]

I don't understand why people would buy at this price which is quite high for the last month or so.  Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?  Or could it be faked.

Don’t act as 6000$ is the only right price to buy and profit. If that’s your strategy then you will not buying a year from now when the prices are at 20000$ and the probability of future profits is more than that. I’m buying on this price and many does and to call them faked is totally out of context. If no one buys on this price do increases happen? You need some rest to think clearer.

[BrewMaster]

I don't understand why people would buy at this price which is quite high for the last month or so.  Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?  Or could it be faked.

you are making a lot of wrong assumptions here.
first one is assuming that the price people are buying at is "quite high". obviously those who are buying don't share your views. and just because it is higher than a couple of months ago, it doesn't mean it is "high".

second is assuming that price would fall, specially assuming a big fall to $6k again. again just because it is higher now, it doesn't mean it will fall. it just means you missed the time when it was lower.

and actually this way of thinking is the reason why prices shoot up instead of having a nice slow rise like we have been seeing in the past month. people like you are not a small group. you are a lot of people! and thinking it will fall everyone of this group waits around to buy when it falls and when price never falls and instead rises higher and higher they finally give up waiting and rush in FOMO buying bitcoin.

[exstasie]

I don't understand why people would buy at this price which is quite high for the last month or so.  Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?  Or could it be faked.

I've always been partial to the idea the Bitcoin acts like a Veblen good.

Veblen goods are types of luxury goods for which the quantity demanded increases as the price increases, an apparent contradiction of the law of demand. Consumers actually prefer more of the good as its price rises, and the result is an upward sloping demand curve.

That may be due to the nascent stage that Bitcoin is in. Gains are hyper-speculative and based on perceptions of future usage. So as the price rises, people become fearful that they'll "miss the boat." And the reality that there are only 21 million BTC starts to sink in.

The idea underlying the Veblen effect is that "higher price means higher quality." That's why people want to be seen wearing and owning the latest, most expensive items. Applied to Bitcoin, a falling price means the hype and exclusivity around owning BTC loses meaning. That's why declines in Google trend interest is often reflective of bear market action in Bitcoin. Nobody cares when it's not "the next big thing."

[jamids]

I don't understand why people would buy at this price which is quite high for the last month or so.  Would people not pile in and buy if the price went down to 6k.  Then a huge amount of people would be buying.  Who is buying at this price?  Or could it be faked.

When the price was $6k, some people fear that it will crash more and some even panic sell because they thought that bitcoin would not go back up due to the FUD spreading around. Fear is the one winning during those times because some are fearful that the bubble already pop and there are even who speculated that it would eventually be zero so people do not want to buy. Nowadays though, the confidence of the people is coming back so there is more demand to the coin thus an increase in price and bitcoin dominance even though the price is higher because people are now bullish about it.