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I think 7777fps just meant that if you buy up an asset with a balance of supply-demand you bid up the price, but then when you try to sell it, you drive the pri
by papln 7y ago
I think 7777fps just meant that if you buy up an asset with a balance of supply-demand you bid up the price, but then when you try to sell it, you drive the price back down.
But with BTC being a speculative asset, since there was already an excess of demand (price increase), and the excitement of the rising prices drives more demand, by buying up coins you drive up the price even further faster. It's a classic pump-and-dump or market-cornering model. The bubble will burst eventually, unless fundamentals grow enough to cover the speculation.