Speculators don't want to pump BTC because of the known selling pressure that starts at around 400$, when all the miners of 2014 will finally start to see some ROI.
And that's only the selling pressure that is known. There are still loads of coins out there that have been stolen and that's fate is unknown. For instance, there is still absolutely no information about the 600k mtgox coins that went missing. No one can be sure if these coins are still out there or not, and if they are, then what is planned for these coins. Lack of public interest for this crucial piece of information only show how immature the bitcoin market really is.
Anyway, for smarter speculators with more money to play with, it would make no sense to try to push through all that selling pressure. It makes more sense to just wait it out till bitcoin falls to depths (single digits) that will clear all this selling pressure buffer, and then make your move. But of course, it would make even more sense to start promoting a new and better crypto, that's market is less tainted and that's technical properties are more advanced. But because bitcoin is driven more by religious aspects, not by practicality, then I'm not certain if common sense will prevail.
And that's only the selling pressure that is known. There are still loads of coins out there that have been stolen and that's fate is unknown. For instance, there is still absolutely no information about the 600k mtgox coins that went missing. No one can be sure if these coins are still out there or not, and if they are, then what is planned for these coins. Lack of public interest for this crucial piece of information only show how immature the bitcoin market really is.
Anyway, for smarter speculators with more money to play with, it would make no sense to try to push through all that selling pressure. It makes more sense to just wait it out till bitcoin falls to depths (single digits) that will clear all this selling pressure buffer, and then make your move. But of course, it would make even more sense to start promoting a new and better crypto, that's market is less tainted and that's technical properties are more advanced. But because bitcoin is driven more by religious aspects, not by practicality, then I'm not certain if common sense will prevail.
