![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
As for today I'll try to tackle yet another myth:
The claim that bullish market participants can drive the price up infinitely, arguably because they can keep their coins forever without ever selling them back.
In an ideal world where everybody only invests the money they can afford to lose this would be true, but in RL that is not the case...
Because of relatively low interest rates in the fiat money economy there is a substantial amount of people who buy Bitcoin on credit. This tendency increases with greed and bullishness, the more somebody thinks the price will go up shortly and the higher the longing to get rich quick the higher the risk for somebody to fall into this trap.
And because many people either have other loans for more essential assets (like housing) or use these assets as collateral to get the loan in the first place they have no other alternative to sell their BTC down the road, either by taking profit or worse to cut losses.
I'm bullish but I agree with this. Infinitely? Doesn't sound realistic anyway. The truth is a lot of people will cash out of bitcoin and that will cause the bubble to pop...... but that is the price bitcoin has to pay to become an elite currency. Over and over people will suck money out of the bitcoin circulation and prices will rise and fall but eventually it will still be worth more than it is now. I only say I'm bullish because I don't think the price will drop that far. There are lines of people waiting to buy at 15........ so that means I doubt it will drop that low if the price does crash.
Yes, it was cypherdoc one of the most prominent bulls here who brought that to my attention.
What you do must understand is that essentially this behavior can lead to a debt trap for speculators who weren't careful enough and depending on the entrance price of the people who did this it can lead to a very deep drop potentially. In a way the positive feedback we have seen in the past weeks would reverse and work against them.
I think if it gets that far we would drop very deep, potentially close to the 2011 crash.