Some people like to say that the 3600 bitcoins being dumped is nothing, because of the volumes we see in exchanges are much larger.
That, misses the point, as 3600 is a dump constant put against short-term speculation. Who wins? At $300/btc, traders must pour $1,080,000 every day, for sustaining the price. That is indeed a total amount (no one needs to pump $1,080,000 single-handed), thus not necessary the most ridiculous value there is. But the speculator excitement is now very low. Therefore in order to bring bitcoin to great heights (A.K.A the moon) at the current inflation level, the pump must be legendary. There simply isn't such a market.
Thus I conclude that we won't see ATH prices so soon, as permabulls like to claim.
This is correct and not even opinion but fact based on mathematics. I share this view. I think before halving sustainable price bottom will be in double digits. Random pumps should not go higher than 550$ in the most extreme case and such random pumps will drop as fast as they build up of course.
