Seems pretty high. If all these people really wanted so many bitcoins, why do they just not buy them at the current price?
It's like everything else in investing: people won't buy if the price is too high. You could ask the same about US housing, and why people won't pay $200k for a house anymore. They won't pay it because that house will be $150k next year, so why buy today?
I like a lot of other people have low bids to take advantage of the market becoming irrational, and automatically place asks at profit when those bids are fulfilled. Only problem is, if a lot of other people are doing exactly the same thing then we all lose in the long term. We need new money to come into the market. There are 7200 bitcoins made each and every single day. If only half of those are sold on average that means we need over $17k of new money every day just to keep the price stable. Not much in the grand scheme of things, but finding people willing to dump $17k into bitcoins on a daily basis is no easy task.
