We're easily breaking 350 today. Only a few cultists are buying a couple of satoshis. The rest of the Bitcoin world is selling BTC in massive quantities.
So who is buying all the sold BTC? Makes me wonder.
Ah. Now that is the question..
I see the usual suspects (trolls) are conversing back and forth. Bitcoin price is easy to move up or down or manipulate with enough money and desire. Sentiment is driven by price, with recent weakness demonstrating that to good effect.
Whoever is buying up the coins on the cheap will simply guide the price back up after a decent chart reversal is painted. All those who sold will hop back on board and this an new entrants to the market will drive the propel the price up to break the ATH and beyond.
The trick is to ignore the trolls who know the above but try to magnify the market moves for profit, and instead buy when it seems bitcoin is all over (hint: not long).
A quarter of a billion in VC money in the last year and the largest online companies in the world integrating bitcoin suggests this time is not different and the price will rise again.