Serious question. Who SELLS at this level?

[bonipper]

The ethereum team have already sold at roughly this level to pay bills, and might sell again at this level. Other people with  bills (like miners) could have no other choice but to sell at this level

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[giveBTCpls]

Because they think it will go lower and what more cheap BTC to hold before the big rally towards obligatory 1K+ territory. Of course when you play with fire, you get your hand burnt. These guys trying to playout the whales will never learn.

[botany]

Miners have to sell a portion of their bitcoin holdings to cover their running costs.
Companies which receive bitcoins through sales and do not want to take the exchange risk also dispose their bitcoin holdings quickly.
So I guess there are sellers even at this price.

[Brewins]

Isn't the objective of a speculative trader to buy LOW and sell HIGH?

I first bought some btc back in November before the massive rush to over $1k.

Now, more than ever is a seriously incredible opportunity to BUY.

How are more people not buying coins at this bargain prices?

Either something is fundamentally wrong here and we are heading towards $3xx or a MASSIVE rally is about to pop off.

Lets here what you got to say boys.

Bitpays and other merchants. They charge at wharever is the current price, then sell the coins at wharever is the current price.

Also people that need to pay bills, including miners and business owners.

Also trade people, to short or waiting for even lower prices.

Same could be questioned about any price below the ATH, with the same answer

[kevin08]

Is there some sort of US tax rule that forces companies accepting bitcoin payments to immediately sell?

[jjacob]

Is there some sort of US tax rule that forces companies accepting bitcoin payments to immediately sell?

They do have to pay taxes on their profits and that can't be paid in bitcoins.
Accounting principles also treat bitcoin as a volatile asset and companies might not want that to show in their books.

[romerun]

sold some to clear debt

[JimboToronto]

Serious question. Who SELLS at this level?

Those with no other choice.

[counter]

Very very weak hands to answer your first question.  This is just when things get interesting in my opinion and it's is pretty thrilling watching this play out.  People who watch soap operas don't know what they are missing.     I know it is not fun for those that bought at a high but do you really think their aren't tons of people eagerly waiting for you to sell your coins?  I'd say buy more at this low and enjoy the ride.   

[cbeast]

If you watch the bids/asks long enough you begin to see patterns that you can name. They are like positions on a sports team. The "price" is the line of scrimmage. There are offense and defense positions. There are plays, fakes, hail mary's, and big scores. I can almost hear the play-by-play action.

[tss]

The ethereum team have already sold at roughly this level to pay bills, and might sell again at this level. Other people with  bills (like miners) could have no other choice but to sell at this level

thats done with..  many more much larger daily sells and buys

[tss]

Is there some sort of US tax rule that forces companies accepting bitcoin payments to immediately sell?

no.  they pay capital gains tax later if they keep the coin and it goes up in value

[Mobius]

There have been a ton of things that I have held off from purchasing because I am confident that BTC will be worth a lot more within 2 years. Between 'bubbles' I've resorted to alt trading to accumulate BTC before the next big rise.

[IMZ]

Better quality of discussion here (except for Broken-Record Guy . . . )

My mob doesn't 'believe.' We have analyses; and one is: the proliferation of the merchant network etc. shows that cryptos are here to stay. So, buy.

Mark (IndiaMikeZulu), Australia

[oceans]

I personally feel myself that the reason we are not seeing a huge rise in bitcoin buying at the moment while it's at this price which is when you would expect to see it, is because people may be worried about a further price drop meaning they may lose out if they were to try and sell.

I myself would rather take the chance and buy cheap and hope that the price rises so that I can sell and make a profit but I don't see that many people see this right now.

[nuff]

Those merchants who convert bitcoin to fiat once they received payment are selling. They are not holding and will sell at any market rate.

I don't think so. If merchants are selling at below what they were paid in bitcoins for then these merchants are not very smart. What's the point of accepting bitcoins for payment when fiat does the job just as well AND does not lose value in mere days

[cryptozio]

Sellers would be better start to worry and buy back at loss before the rocket will leave the Earth.

[falllling]

Sellers would be better start to worry and buy back at loss before the rocket will leave the Earth.

dead cat bounce won't last long

[dropt]

Sellers would be better start to worry and buy back at loss before the rocket will leave the Earth.

dead cat bounce won't last long

$500 in 48 hours! Better buy now before you loose you chance!

[mano21]

Awesome discussion here guys.
Many thanks to all who contributed.
I learned that miners have to sell no matter what and right now the weak hands are being shaken out.