Ok, so if we are to believe the hype, the Chinese are dumping like crazy, and also many other weak hands. So question is, who is buying this up? Surely the smart money has held on till around the $3000 level before jumping in. So who/why is anyone actually buying over the last few days?
That would be a buyer with dreams of getting rich, and this time it's for real. These are the actual smart investors who only come out of their hives when they see the drop in the prices for bitcoin or even the altcoins too. They are always thankful to such out of the way behaviour for bitcoin price. The weak hands which you see are nothing but the short investors who are just scrap and nothing else. They fear a lot because they think they are loosing he money. But there acts actually make them loose the whole money. So answer to your question takes us to those buyers who are smart investors and big fish too.
