You are viewing a single comment's thread from:
RE: BTC - Bitcoin still right on que with previous Halving patterns
The only bad news is that many others out there likely are expecting that as well, and often in finance when everyone is expecting the same thing price wise, it usually doesn't happen.
If many others were expecting it to happen, then the price would be higher already. The fact that the price is trending down means there's more selling than buying, which tells me that the majority if the money is betting on it not happening again. By your opposite reasoning, that should be a good thing :-)
Haha well said.
This is something I've never fully understood, how can "more selling than buying" be happening if for every trade there's 1 seller and 1 buyer?
You're right that obviously the amount of buying is always exactly equal to the amount of selling. What I mean is that there are more people selling than buying at a particular price which means that the price will drop until buyers are found.
Definitely ;)
Posted using Partiko iOS
Moving the price just has to do with whether buyers or sellers are hitting the ask or the bid mostly. As bids get taken out (which are buy orders) lower and lower bids pop up and those fearing they may miss getting their lot sold, lower the ask.
There is some truth in your words ;)
Posted using Partiko iOS