People trying to ride an echo bubble? Naah, or maybe?

[Vandroiy]

I was wondering, might we have a lot of speculators who don't actually believe the price will be stable above 9 or 10 any time soon, but intend to ride an echo bubble, hoping that it would become similar to the first, so they can sell at a peak within the next weeks?

It would be hilarious if people thinking that drove up the price and now play a staring game, as whoever pushes further now might be sold into by the other players and become the peak trader himself.

But it really couldn't be this way, or could it?

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[Sannyasi]

for some people it is. I'll cash some of my coins out when prices go up but I will also be buying alot more since things will be less in coins than with low prices

[old_engineer]

After the big buys mysteriously stopped and the too-fast replacement of $7.00-$7.20 asks a couple of days ago, I've been thinking the same thing.  It might be a pump-and-dump, running up enthusiasm with "it's going to the moon!" buys from $5-$7, then sell out at $7 to make a quick buck.

Then again, it might also be a lot of folks deciding $7 is a good place to cash out, it being post-holidays and all, but that seems less likely to me.

No matter the reason, it's had a useful dampening effect, keeping the irrational bulls from taking over and running up the price too quickly.  I'm figuring the price will be stable for a while in the $6-$7 range for a while, and am trading accordingly, riding the volatility rather than going long or short.