I have Poloniex ticker going just to see the market reaction. Just now somebody dumped ~20-30 BTC and price dropped to high 980s from low 1020s. In an instant.
That's like peanuts…. I mean, I don't hold even 1 Bitcoin but I know plenty of people do. So it seems like it's all the small buyers moving the market up and then if somebody wants to sell as much as 20 coins then the market drops by THAT much? What if somebody sells 100 coins, or decided to cash 1000 coins? That obviously would crash the price in an instant.
With that said, it's a scary thought. We are all "hodling" here but if a whale or two decided to cash out, just cash out, not even dump everything, then the price will plummet a hundred or more points in USD just like that? Well.. that doesn't feel like a good investment at this point if some guy with 100 coins can just put us back to 800. I am not even talking about panic selling…