A price only comes into being once a buyer and seller agree and make the exchange. Anything before that is speculation.
And your theory about the number of WTB and WTS offers determining the direction of price assumes that people post WTB and WTS with the same frequency. I think in practice you will see people post their WTS, while those WTB will typically just look through those who are selling.
To put it another way, I've seen a dozen commercials for 99 cent tacos for sale, while not a single commercial of people looking to buy tacos. Does that mean tacos are overpriced?
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