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.
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.
I don't think all of the mined coins are dumped. Some people even hold on to them .