If you look at the market depth (the V-shaped plot at coinlab.com and elsewhere), you can see that ~$1M is sufficient to shift the price of BTC, which has a ~$1B capitalization by ~10%. Thus, if you wanted to make more than ~$1M from BTC, it would have to happen by doing something other than selling BTC itself, lest you crash the market.
The price is supported by speculators (like me; I've bought a little to play with) who think that the value of BTC at some time in the future is at least $100. If it were priced at its utility, at least in my simpleminded picture of things, a shift of 10% in the price should come only with a sale of ~10% of its capitalization.
The price is supported by speculators (like me; I've bought a little to play with) who think that the value of BTC at some time in the future is at least $100. If it were priced at its utility, at least in my simpleminded picture of things, a shift of 10% in the price should come only with a sale of ~10% of its capitalization.