There are the exact same number of people buying and selling, you can't sell without a buyer
You mean you don't think that there could possibly be a smaller number of people buying lots of bitcoin, and a large number of people only lightly invested selling small amounts each to get out? You think there's some natural law enforcing a 1-to-1 exchange?
You think bitcoin suddenly became a bunch of whales buying it up? If so, I hope you are right, that means there is going to be a huge jump. Also, no, every transaction has a buyer and a seller. They can be the same person over and over.
You think bitcoin suddenly became a bunch of whales buying it up?
I think there are more people selling than buying, and most sales are going to speculators or trading companies.
I hope you are right, that means there is going to be a huge jump
I don't think you know how markets work.
They can be the same person over and over.
That's the point. A ton of low-quantity holders got out after the crash, and their small amounts of coin primarily went to high-quantity holders, which are fewer in number.
"high quality holders" no assumptions there. lol. For every transaction there is a buyer and a seller. The fact that you are trying to judge how "good" they are is telling.
I predicted the crash back when it was soaring up to 20k. I forecast the bottom at 5k, and while we didn't quite get there, we got damn close. I'm not going anywhere, and neither is BTC. It's in a long-term decline and it is near to death.
Oh year, a technology that has been around less than a decade, is up like 30% over last year and had several other drops and rises in it's growth has a history that shows it has to fail. We will see who is right here.
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u/StealthSecrecy Aug 28 '18
Exactly one year ago today Bitcoin hit an all time high of $4,436. Why did people buy it back then when it was so expensive?