Market Depth. Why is the price so low?

[BitMiner223]

I was looking at the market depth figures.  There are clearly WAY more buyers than sellers.  In these conditions one would expect the price to rise, not drop.  The price continues to hover, if not be falling.  Anyone care to explain the economics?

http://bitcoincharts.com/charts/mtgoxUSD/orderbook.png

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[laclede]

They are 'buyers' but they aren't buying, they are effectively backstopping.  The price is sliding, so is the support.  This is also why there are big swings, people are looking for the bottom, but the buying bottom is sliding to find where the 'actual' buyers are.

[Cosbycoin]

Not enough buyers. Simply put.

[worldinacoin]

Exchange, buying and selling of bitcoin is only one thing.  The most crucial thing is the usage of bitcoin, the more widespread the usage, the more demand and the more the bitcoin will go up in value and in price.