I just see the price being bought up with little selling and no real reason behind it.
It can't continue for too long as people do like to take profit and then it will start to go down.
There's been a LOT of capitulation that's already happened after this recent correction. There hasn't been much profit to take since by dumping, and there certainly hasn't been any exponential growth since.
I'd like to see a new ATH before a big dip. I guess we'll know in a few days.
To me this is obvious manipulation as nobody really needs to buy 1000's of Bitcoin at this price when it will surely come down if they just wait. It's painting the tape.
Seems logical that someone would buy 1,000 bitcoins, at any price, if they believed the price would be climbing higher in the near future. The actual price is arbitrary. "Surely come down if they just wait" is not so "sure". If it were, the price would have already collapsed (certainly if it were as obvious as you make it sound).
If the bid depth was high enough the buyers would be selling already.
Selling about $300,000 worth of Bitcoin right now (1500 BTC) reduces the current bid price by $10 devaluing all Bitcoin by about $120 Million
Everyday about 10 people allude to how far the price could collapse, during upward movement, due to a large market sale and slippage. They seem to not even consider that most people would put up a sell wall instead of dumping, unless they liked throwing money away. When does a dump become more profitable? Perhaps when there's an obvious bubble and fear that someone else will dump before your ask wall gets eaten into (like last weeks exponential growth). Right now, and with China's buying pressure, it would seem a state of borderline retardation to dump a huge market sell with significant slippage. But that's just me..
