Let us assume a hypothetical scenario for the sake of simplicity :
- Current price of bitcoin is $100
- Total bitcoin in supply are 1,000,000
- Total no. of bitcoin as 2,000,000
- No limit orders on trading i.e. no bid and ask while trading.
- Simple market rate orders are allowed.
Now, I want to know if me and several other people purchase bitcoins for $100 and after our purchase order is up. There are people who agree to sell their bitcoin on market price. How the price of bitcoin will change. If we consider that transaction fee is $1 and miners will get 1BTC for mining the block. And if there is any other info which I’ve missed please assume it by yourself.