This just happened a couple weeks ago in the "Bearwhale" episode. Someone tried to dump 30K bitcoins at $300, and instead of the market dropping, thousands of people bought them up and the market has been rising since then. I called it the day the plankton ate the whale.
So no, we are not at inherent risk of a massive dump killing BTC. Too many people now have a sense of the value of BTC, and have demonstrated they will jump in to purchase BTC if they perceive it as being undervalued.
Edit: Article on the Bearwhale episode:
http://www.cnbc.com/id/102070437
Topic: How can the market recover after a huge dump? - page 2. (Read 1995 times)
So 40% of BTC is owned by 0.1% of Bitcoiners: https://bitcointalksearch.org/topic/distribution-of-bitcoin-wealth-by-owner-316297 (1000 people own 5.8 million coins)
How will the market respond if someone decided to dump 30k or so coins? We will be back to single digits for the price on a single exchange. Could be done by someone who was in a bad mental state. A depressed guy.
So how long would it take for the market to recover?
How will the market respond if someone decided to dump 30k or so coins? We will be back to single digits for the price on a single exchange. Could be done by someone who was in a bad mental state. A depressed guy.
So how long would it take for the market to recover?
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