i gues someones been reading my posts. and then made their own report about it.
https://bitcointalksearch.org/topic/m.35629250https://bitcointalksearch.org/topic/m.34424094https://bitcointalksearch.org/topic/m.32495804which yes shows that for years mining has had a support line. it does not explain "the dip" that began in march where the bitcoin price dipped below the cost of mining(very rare event over the last 9 years).
this "dip" as everyone is meming.. is due to naive trend anals that just draw triangles on a price chart with no understanding of cause and effect.
such as the 2013 spike and the 2014 drop.
those events were caused by
the October 2013 ASIC adoption/release - price rise
the MTGox 2014 fiasco - price decline.
and so the trend anals simple draw a triangle that X PRICE happened autumn of one year so Y PRICE will happen winter/spring.. without understanding that in 2017/2018 there was no new asic nor major exchange events this time round so no reason that the past spike and drop would repeat.
but due to trend anals, trading bots followed these empty triangles to trade away from rational thought and just fiollow empty triangle lines into a dip that should not have occured.(im talking about irrational dip below 9k(march'18) not the correction below 20k(december'17))
so with that said. unless trend anals stoppd being anals.we shall continue to see trading bots blindly trading without rational reason.
so trend anals should start to analyse better to be technical analysts and begin to actually produce indicators that have meaning and proofs based on real life current events. not history of empty numbers they have not researched the cause of
in short.
in a rational setting before the recent influx of teenage youtube wannabe anals.... following the mining cost was good advice. but this recent dip is proving other wise (hense i cal them trend anals, instead of technical analysts)
my personal opinion on the price is to never, ever give a darn crap about ATH(all time highs) and instead look at the 2-6month Lows and draw a line between them and you will see that we are currenctly still on a stable and noticable rise. if you use the LOW as a indicator
(green line)
note: many alts/crapcoins mining is REACTIVE to pricing. because they drop off and mine another crap coin if its not profitable. but bitcoin mining is a trend setter as they will hold on and let early holders spend their coins until what is left if soins that cost more to buy/mine and thuse the price reacts to mining. rathr than other way round.
in short dont use this analysis on crap coins as they do not cause price movements like bitcoin does.
I do not want to disappoint you, but not alone you are interested in this topic
