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Bitcoin Forum > Economy > Economics > Speculation > Price is doomed to melt up
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Joe200 (OP)
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November 22, 2013, 03:09:14 PM
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Say there is a major peak. Everyone sells their coins. The only reason they are selling is because they want to re-buy lower. But at the lower price, they are bidding on more coins than they sold. The number of coins is fixed. The extra coins demanded only pushes the price higher.

Or, they missed the boat and could not re-buy lower. Once the price passes their sell point, they start panic buying.
Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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November 22, 2013, 03:10:28 PM
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Yes, and this happened many times. Even if the price then just went down further, people did panic buy before.
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November 22, 2013, 07:06:47 PM
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Quote from: Joe200 on November 22, 2013, 03:09:14 PM
The only reason they are selling is because they want to re-buy lower.
Or because they have no long-term confidence in BTC and have reached their prearranged exit price.
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November 22, 2013, 10:06:18 PM
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Or if they are selling because they want to spend the USD in the real economy.
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November 22, 2013, 10:17:02 PM
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if the world is looking at bitcointalk.org to see whether bitcoin is worth the risk......bitcoin is doomed.
Yes and no.  Bitcointalk isn't good, on its own, for gauging sentiment.  But it's the best place to look first to see what's happening.  After that, check the news outlets, and make your own judgement.
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November 22, 2013, 11:55:01 PM
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my pop was just telling me how he saw BTC mentioned on yahoo news today. sign of the times
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