Topic: 2 months cycle - page 2. (Read 273 times)
I don't think any particular month gonna affect the bitcoin price but yeah the end and early months of the year have same pattern in past. In trading past might not be repeated in future so price can even remain at current bear market at the end of this year. Increased regulation over crypto and panic among new investors in main reason behind the current dump on market.
early of february and april btc price is almost same.after that, btc made profit about %30-40 in 15 days.now july and its similar.i expect the bull run in a couple days.
Yeah! Right that the price of bitcoin movement is almost the same on February to April and nowadays the value of bitcoin is constantly falling. Possible the price of bitcoin will recover this coming next week and once it happen, the recovery of bitcoin will continue. If you remember last year bitcoin price buble start at late of July and early of August. Maybe possible this year the price buble of bitcoin start again this July or August but hopefully bitcoin price recover this month of June. If you always monitoring the treand of bitcoin price in the market cap it always repeated as a cycle and the price fall of bitcoin is normal hecause beyond that there has recovery period for it. Also this scenario is giving chance everyone to buy bitcoin at lower price.
things that affect the bottom line/LOW of bitcoin value/pricing are categorised as cost of obtaining: (mining cost and buyers remorse)
i feel we have since october really tested the bottom line based on 'buyers remorse' support line. (those that buy at X but wont sell for less than X)
so now the only pressure on the bottom support line is mining cost. thus if lots of cheaper rigs are used to replace old rigs, but hashrate doesnt climb much, we can see pricee remain slumped/low/drop because the miners have factored in that it costs them less to mine so willing to sell for less than top price
but if people are buying extra rigs to extend farms thus cause quick hashrate climbs to counter the cheaper rig costs. then we shall see a nice rise in support price
..
to explain better
look at charts.. draw a line between october and february.. cut off the hype mountain that was pure speculation. and wats left is a rough idea of true value.
right now there is a mining cost of around $6k-$9k depending on factors. which gave it the support levels of such.
now factor in that ASICS just got cheaper which is why the march-june period seen a dip into the lower range of 6-9k as some pools got to test out some cheaper rigs and so willing to sell coin for less than the 9k top 'value'
and factor in that others may also be expanding their farms with cheaper ASICS from june forwards so that effects the price support to..
which can cause more pressure on the bottomline.
the redeeming factor of a value bottomline support price rise is the hashrate. the higher the hashrate the more cost to mine blocks it will be. so look at the changes of the hashrate to see if VALUE will stay slumped or will move up quickly depending on how quicky the hashrate goes up to counter the new rig costs
rant:
ther are 2 types of price TA's:
technical analysis: taking current real world events and putting it into numbers
trend anals: fortune telling by palm reading old/existing charts and seeing triangles that you chose to draw, that have no meaning but pretend to look good
dont be a trend anal
now to those that cant quantify my explanation into maths. maybe technical analysis is not your speciality and you should avoid looking at charts.. and definetly dont bother thinking you will get future answers by looking at past patterns as thats worse then playing pin the tail on the donkey.
i feel we have since october really tested the bottom line based on 'buyers remorse' support line. (those that buy at X but wont sell for less than X)
so now the only pressure on the bottom support line is mining cost. thus if lots of cheaper rigs are used to replace old rigs, but hashrate doesnt climb much, we can see pricee remain slumped/low/drop because the miners have factored in that it costs them less to mine so willing to sell for less than top price
but if people are buying extra rigs to extend farms thus cause quick hashrate climbs to counter the cheaper rig costs. then we shall see a nice rise in support price
..
to explain better
look at charts.. draw a line between october and february.. cut off the hype mountain that was pure speculation. and wats left is a rough idea of true value.
right now there is a mining cost of around $6k-$9k depending on factors. which gave it the support levels of such.
now factor in that ASICS just got cheaper which is why the march-june period seen a dip into the lower range of 6-9k as some pools got to test out some cheaper rigs and so willing to sell coin for less than the 9k top 'value'
and factor in that others may also be expanding their farms with cheaper ASICS from june forwards so that effects the price support to..
which can cause more pressure on the bottomline.
the redeeming factor of a value bottomline support price rise is the hashrate. the higher the hashrate the more cost to mine blocks it will be. so look at the changes of the hashrate to see if VALUE will stay slumped or will move up quickly depending on how quicky the hashrate goes up to counter the new rig costs
rant:
ther are 2 types of price TA's:
technical analysis: taking current real world events and putting it into numbers
trend anals: fortune telling by palm reading old/existing charts and seeing triangles that you chose to draw, that have no meaning but pretend to look good
dont be a trend anal
now to those that cant quantify my explanation into maths. maybe technical analysis is not your speciality and you should avoid looking at charts.. and definetly dont bother thinking you will get future answers by looking at past patterns as thats worse then playing pin the tail on the donkey.
Nice post sir.
I do think however that Technical analysis is some sort of self fulfilling prophecy.
If a lot of people are short term trading this way, everyone is looking at the same indicators and setting the same stopp loss orders etc.
This triggers big sell offs on certain price levels, dropping the price even further.
New investors panic and start selling too.
And the snowball effect is complete.
I believe that the huge volatility is partly caused by short term traders using the same TA indicators.
Usually the price will start climbing starting in August, especially later there will be World Cup events and Asian games, it will definitely have a big effect on crypto.
things that affect the bottom line/LOW of bitcoin value/pricing are categorised as cost of obtaining: (mining cost and buyers remorse)
i feel we have since october really tested the bottom line based on 'buyers remorse' support line. (those that buy at X but wont sell for less than X)
so now the only pressure on the bottom support line is mining cost. thus if lots of cheaper rigs are used to replace old rigs, but hashrate doesnt climb much, we can see pricee remain slumped/low/drop because the miners have factored in that it costs them less to mine so willing to sell for less than top price
but if people are buying extra rigs to extend farms thus cause quick hashrate climbs to counter the cheaper rig costs. then we shall see a nice rise in support price
..
to explain better
look at charts.. draw a line between october and february.. cut off the hype mountain that was pure speculation. and wats left is a rough idea of true value.
right now there is a mining cost of around $6k-$9k depending on factors. which gave it the support levels of such.
now factor in that ASICS just got cheaper which is why the march-june period seen a dip into the lower range of 6-9k as some pools got to test out some cheaper rigs and so willing to sell coin for less than the 9k top 'value'
and factor in that others may also be expanding their farms with cheaper ASICS from june forwards so that effects the price support to..
which can cause more pressure on the bottomline.
the redeeming factor of a value bottomline support price rise is the hashrate. the higher the hashrate the more cost to mine blocks it will be. so look at the changes of the hashrate to see if VALUE will stay slumped or will move up quickly depending on how quicky the hashrate goes up to counter the new rig costs
rant:
ther are 2 types of price TA's:
technical analysis: taking current real world events and putting it into numbers
trend anals: fortune telling by palm reading old/existing charts and seeing triangles that you chose to draw, that have no meaning but pretend to look good
dont be a trend anal
now to those that cant quantify my explanation into maths. maybe technical analysis is not your speciality and you should avoid looking at charts.. and definetly dont bother thinking you will get future answers by looking at past patterns as thats worse then playing pin the tail on the donkey.
i feel we have since october really tested the bottom line based on 'buyers remorse' support line. (those that buy at X but wont sell for less than X)
so now the only pressure on the bottom support line is mining cost. thus if lots of cheaper rigs are used to replace old rigs, but hashrate doesnt climb much, we can see pricee remain slumped/low/drop because the miners have factored in that it costs them less to mine so willing to sell for less than top price
but if people are buying extra rigs to extend farms thus cause quick hashrate climbs to counter the cheaper rig costs. then we shall see a nice rise in support price
..
to explain better
look at charts.. draw a line between october and february.. cut off the hype mountain that was pure speculation. and wats left is a rough idea of true value.
right now there is a mining cost of around $6k-$9k depending on factors. which gave it the support levels of such.
now factor in that ASICS just got cheaper which is why the march-june period seen a dip into the lower range of 6-9k as some pools got to test out some cheaper rigs and so willing to sell coin for less than the 9k top 'value'
and factor in that others may also be expanding their farms with cheaper ASICS from june forwards so that effects the price support to..
which can cause more pressure on the bottomline.
the redeeming factor of a value bottomline support price rise is the hashrate. the higher the hashrate the more cost to mine blocks it will be. so look at the changes of the hashrate to see if VALUE will stay slumped or will move up quickly depending on how quicky the hashrate goes up to counter the new rig costs
rant:
ther are 2 types of price TA's:
technical analysis: taking current real world events and putting it into numbers
trend anals: fortune telling by palm reading old/existing charts and seeing triangles that you chose to draw, that have no meaning but pretend to look good
dont be a trend anal
now to those that cant quantify my explanation into maths. maybe technical analysis is not your speciality and you should avoid looking at charts.. and definetly dont bother thinking you will get future answers by looking at past patterns as thats worse then playing pin the tail on the donkey.
early of february and april btc price is almost same.after that, btc made profit about %30-40 in 15 days.now july and its similar.i expect the bull run in a couple days.
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