So, I am trying to understand what drives market prices with Bitcoin. Is it really that difficult to get the collective selling market to slowly increase their asking prices? Is it that competitive that these day traders want to undersell competitors by like .0001 bitcoin every few minutes/seconds?
What would happen if collectively the Bitcoin community decided to stop selling at $660, and just started setting limits of $1,500? How difficult would it be to get that to take off?
What drives the price like that one some days/weeks and not others? How are we stagnant at this $660 range right now, and then in two weeks the price will jump like $1,000? or lower to like $200?
Is it all just hype? Luck of the draw? One day the traders decide to get bold with their gaps in asking price and the price starts jumps $3-4 per sale?
Trying to understand this all a little better