BTC under 6k? | Bitcointalksearch.org

fabrizoc

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Quote from: Caladonian on July 01, 2018, 07:45:24 PM

Quote from: cryptoassistent on June 30, 2018, 01:59:11 AM

Can BTC technically survive under 6k?

This is close to a bottom where mining stops to be profitable, meaning that supply of BTC from miners would drop. How much supply comes from miners anyways? Is that meaningful in terms of price movement?

What if miners are not profitable? Does that make them stop and thus make BTC transactions less secure? Do they continue mining in hopes of future price raise?

What would be the psychological impact on traders if BTC goes under 6k? That is a huge resistance point and if it brakes how far can price drop? Last time it was more like a test to 5800 which recovered immediately.

If BTC fell to that level it will just continue the cycle, whales will buy the dip and pumped it a little, newcomers and short term traders will ride the pumped, then whales will dumped again and wait till how those weak holders will react, as we don't have any assurance what can be the holding ground in terms of value, 6k$ already been break twice but bounce back right away.

The value today is 6.5k dollar before the improvement of price the value was 6.3k dollar and before that the value was 5.8k dollar so here it comes up with a good increase and the value today is 6.5kdollar. We need further improvement like this in the upcoming days so that we may be able to stand in a high market where our investments may earn huge profit for us.

Daimon88

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Quote from: TheHas on June 30, 2018, 08:29:14 PM

Quote from: valentinen39 on June 30, 2018, 05:37:37 PM

Bitcoins under $6k is not a bad news, it was a very good value for people who wants to earn cryptocurrency today because in this way they can invest while the market price is currently dumping

That's right, it all depends on when you 'bought in' or started mining. I mean compared to all time highs in December 2017, Bitcoin has dropped 50 per cent. But compared to a little over a year ago it is still more than double.

So you're right - how much it impacts you depends on when you started being involved in crypto. I wrote an article about this recently, with a graph of how the top 50 coins have performed over the last 6 months: https://steemit.com/cryptocurrency/@hassy/cryptocurrency-price-changes-for-top-coins-since-december-2017

Currently the value is passing between the prices of 5.8k dollar and 6.5k dollar and fluctuating with little increase and decrease. The value is still low and encouraging people to take the ways straight towards itself for investment because one can get a lot of Bitcoin on low amount and this collection of the Bitcoins will benefit in a high market. The benefit at the end depends upon the quantity of coins so collect according to your ability.

samycoin

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Quote from: cryptoassistent on June 30, 2018, 01:59:11 AM

Can BTC technically survive under 6k?

This is close to a bottom where mining stops to be profitable, meaning that supply of BTC from miners would drop. How much supply comes from miners anyways? Is that meaningful in terms of price movement?

What if miners are not profitable? Does that make them stop and thus make BTC transactions less secure? Do they continue mining in hopes of future price raise?

What would be the psychological impact on traders if BTC goes under 6k? That is a huge resistance point and if it brakes how far can price drop? Last time it was more like a test to 5800 which recovered immediately.

Yes bitcoin will surpass 6k as we can see bitcoin down to 5k but bounce immediately in 6k again. I believe bitcoin will be recover in this situation or this down trend.

AnonBitCoiner

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The price of Bitcoin is below 7000$ now.It is not a permanent position of bitcoin.In a week ,it will change.The bitcoin investors will get more profit ,only if they brought at low price.Now you can buy bitcoin at low price,it may be impossible to buy in future at this price.

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Quote from: 1Referee on July 03, 2018, 07:33:18 AM

Retail traders on the other hand don't care about anything. If they have to sell far below miner cost they will do without hesitation. As long as they aren't dumping in large numbers, which they haven't been doing much this year, then there is nothing really to worry about. Let whales do their thing, their actions are calculated and smart.

Agreed. I seriously don't know anyone who's selling at current levels, and reading through social media the sentiment might be bearish, but people do strongly believe that holding is better than selling, and I'm glad they have this bit of common sense. Wish they had that common sense during the peak as well, because it would have prevented them from buying the peak and that capital would now be used to buy the dip. Maybe that the Coinbase index fund will help sucking up the coins whales are playing with right now. On top of that, Coinbase custody is a real thing now, so institutions won't have to worry about that anymore....

player514

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Quote from: BartS on July 04, 2018, 03:31:50 PM

Quote from: jackhdt on July 02, 2018, 07:27:34 AM

Bitcoin mining costs a lot of electricity , time and cost of machines. But the reward is getting less and less. In recent years the exploitation cost has increased significantly . If bitcoin prices continue to decline , this can prevent many people mine bitcoin

Many people cannot mine bitcoin anymore, you need specialized hardware that is very expensive and you need cheap electricity costs, so the majority of bitcoin users cannot mine bitcoin at all, besides miners have gotten such profits in the past that they should be able to operate for a loss for some time and if they are unable to do so then other miners will displaced them or just absorb them, this is not really a complex issue besides it is not like we are close to the point when miners will not be profitable anymore.

I agree with this. The vast majority doesn't depend on mining to get bitcoin. Think of mining like the gold rush. There was a point in time where people who saw the opportunity could go and make some good amounts of money, but when others wanted to hop on the trend it was too late -- a lot of the gold was gone. In a similar sense, miners nowadays have to have huge rigs to cut a profit because of how much harder mining is getting. Before, just about anyone with a decent graphics card could mine. Nowadays, it's pretty different. Price exploitation is still an issue though, with many whales and such around.

BartS

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Quote from: jackhdt on July 02, 2018, 07:27:34 AM

Bitcoin mining costs a lot of electricity , time and cost of machines. But the reward is getting less and less. In recent years the exploitation cost has increased significantly . If bitcoin prices continue to decline , this can prevent many people mine bitcoin

Many people cannot mine bitcoin anymore, you need specialized hardware that is very expensive and you need cheap electricity costs, so the majority of bitcoin users cannot mine bitcoin at all, besides miners have gotten such profits in the past that they should be able to operate for a loss for some time and if they are unable to do so then other miners will displaced them or just absorb them, this is not really a complex issue besides it is not like we are close to the point when miners will not be profitable anymore.

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Quote from: cryptoassistent on June 30, 2018, 01:59:11 AM

Can BTC technically survive under 6k?

This is close to a bottom where mining stops to be profitable, meaning that supply of BTC from miners would drop. How much supply comes from miners anyways? Is that meaningful in terms of price movement?

What if miners are not profitable? Does that make them stop and thus make BTC transactions less secure? Do they continue mining in hopes of future price raise?

What would be the psychological impact on traders if BTC goes under 6k? That is a huge resistance point and if it brakes how far can price drop? Last time it was more like a test to 5800 which recovered immediately.

Bitcoins can absolutely survive, i highly agree that bitcoins under $6k dollars is a decent amount in order to invest in the market because the coin will still grow even more in the future.

Ngemmeng

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will not last long under $ 6K.
yesterday the price of bitcoin trun below $ 6k but in a short time the price back up above $ 6k.
public confidence in bitcoin is still high.

valentine401

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Quote from: cryptoassistent on June 30, 2018, 01:59:11 AM

Can BTC technically survive under 6k?

This is close to a bottom where mining stops to be profitable, meaning that supply of BTC from miners would drop. How much supply comes from miners anyways? Is that meaningful in terms of price movement?

What if miners are not profitable? Does that make them stop and thus make BTC transactions less secure? Do they continue mining in hopes of future price raise?

What would be the psychological impact on traders if BTC goes under 6k? That is a huge resistance point and if it brakes how far can price drop? Last time it was more like a test to 5800 which recovered immediately.

In my own opinion, cryptocurrency or bitcoins will survive under $6k dollars because those big whales are just waiting for the price of bitcoins to dump its prices and they will start investing in order to earn more profit.

prtty2gal2

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Quote from: MGBloomz on June 30, 2018, 04:52:47 AM

Quote from: cryptoassistent on June 30, 2018, 01:59:11 AM

Can BTC technically survive under 6k?

This is close to a bottom where mining stops to be profitable, meaning that supply of BTC from miners would drop. How much supply comes from miners anyways? Is that meaningful in terms of price movement?

What if miners are not profitable? Does that make them stop and thus make BTC transactions less secure? Do they continue mining in hopes of future price raise?

Why are you worried if the price will go down under $6K? Remember that last year bitcoin was at $1k and miners were doing good. It's just a psychological effect and everything will follow. Believe in this technology as this will bounce back soon.

Just checked the price of Bitcoin and as of last day when the price was below $6000. Right now the price is above $6300. The rise is more than the fall in the price. This is something that gives an insight to the scale at which the market value fluctuates. So we can say that there is still hope and we might see some good days in the near future when the prices will be far more than what we expect.

nelsledma

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Quote from: J. Cooper on June 30, 2018, 04:54:09 AM

Do you guys think there is a correlation between the sudden pump above $6K and the miners? Since some people claim that bitcoin at this moment costs $6k to produce. Therefore miners could be pumping up the price to be in profit again.

The value is 6.3k dollar which improved from yesterday’s price which was 5.8k dollar so this is a good improvement at this stage and if this improvement follows this way then the value will soon achieve a highest possible value. We are here for high jumps and expect the same in order to make huge profit but this is a long tern investment so we have to stay calm with patience.

Tomahawk One Two

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For me at the moment it is obvious that in the coming months bitcoin will no longer fall in value. the mark of 6000 was a psychological level. all who feared - sold their coins and as we can see - they did it in vain.

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Quote from: andohyeb on July 03, 2018, 11:32:17 AM

The 6000 and below price level won't ever surface and that is the last price bitcoins will ever get that low. Miners don't give full attention to the current price before doing their work, they mined and they can profit in the future price gain.

expect current bitcoin prices to rise away leaving the price $ 6k, and continue to be stable. well, i'm so sure, lots of bitcoin holders are panicking when bitcoin prices become down below $ 6k. although it becomes an opportunity to buy bitcoin, but, most likely a panic will happen.

andohyeb

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The 6000 and below price level won't ever surface and that is the last price bitcoins will ever get that low. Miners don't give full attention to the current price before doing their work, they mined and they can profit in the future price gain.

1Referee

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Quote from: stelee68 on July 02, 2018, 07:38:06 AM

Then i realised the whales don't care about mining cost. They aren't miners, they are whales, and all they care is that this BTC is something that they can manipulate and make a killing.

So, why would they care? You don't mine? Someone else would. Grin

I'm quite certain that whales do actually care about the mining aspect, because less profitability for miners will lead to a drop in hash rate, and that isn't a positive sign in the end, especially if the mainstream media jumps on it as well. It's completely in their favor to not entirely mess with the market like they don't care. If they dump the market down too far, even if it's manipulation, they risk having a bigger whale buy the market up and directly outrule them, and they risk ruining their own game.

Whales rather play safe within a range they consider fair and doesn't work against the ecosystem too much. They are money hungry, but not stupid.

Retail traders on the other hand don't care about anything. If they have to sell far below miner cost they will do without hesitation. As long as they aren't dumping in large numbers, which they haven't been doing much this year, then there is nothing really to worry about. Let whales do their thing, their actions are calculated and smart.

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Quote from: Kemarit on July 02, 2018, 07:03:20 AM

Quote from: michellee on July 02, 2018, 06:44:06 AM

in this situation, I hope that bitcoin is not down under 6k because the price is not going to down too far or increase too high and it stays in the price now. and maybe we can see that bitcoin price can increase higher in this week and in the next week. many people still wait for the bitcoin price to increase again so they can sell the bitcoin in the highest price. but there are many people also wait for the price to go down so they can buy more bitcoin. I think let we see what will happen later.

Good news is that bitcoin has somewhat stablizes above $6000 which mean that we might not see another bottom. I think this July might bring us some new light to say the least and bitcoin will not have to suffer another bottom as most have exited and only the strong hands did stay and just waiting for that elusive bullrun that we all have been waiting.

yes, the price still increases slowly and I think we can try to make a profit this month. and the price in the market still changes to the high and low price until now. and like you say, we have a hope in bitcoin in this month and we can hope that in the next month, the price will increase higher than now and it will be back to the highest price again. I don't want to see another bottom price although we have the possibility to go down again.

Quote from: BlackPanda on July 02, 2018, 07:10:18 AM

Quote from: michellee on July 02, 2018, 06:44:06 AM

in this situation, I hope that bitcoin is not down under 6k because the price is not going to down too far or increase too high and it stays in the price now. and maybe we can see that bitcoin price can increase higher in this week and in the next week. many people still wait for the bitcoin price to increase again so they can sell the bitcoin in the highest price. but there are many people also wait for the price to go down so they can buy more bitcoin. I think let we see what will happen later.

Now that the condition has started to improve and show a positive graph. I feel the price of Bitcoin has regretted the bad phase and now it's time to rise to the value of the better price. Hopefully there will be a wave and ultimately Bitcoin price will experience good stability. I feel naughty with Bitcoin when the price is still in the range of 18,000USD, I want to experience such a moment again and one we have to do is to increase the volume of Bitcoin transactions by using bitcoin in our financial transactions every day.

I think not just that feel naughty with bitcoin when the price can reach the range of 18,000 USD, I also feel the same as you and I am sure that the other people will have the same feeling. I will be glad if finally, the price can increase higher from this month and still getting high in the next year because we are going to make a lot of money from bitcoin.

stelee68

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Quote from: jackhdt on July 02, 2018, 07:27:34 AM

Bitcoin mining costs a lot of electricity , time and cost of machines. But the reward is getting less and less. In recent years the exploitation cost has increased significantly . If bitcoin prices continue to decline , this can prevent many people mine bitcoin

I used to think that too.

Then i realised the whales don't care about mining cost. They aren't miners, they are whales, and all they care is that this BTC is something that they can manipulate and make a killing.

So, why would they care? You don't mine? Someone else would. Grin

jackhdt

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Bitcoin mining costs a lot of electricity , time and cost of machines. But the reward is getting less and less. In recent years the exploitation cost has increased significantly . If bitcoin prices continue to decline , this can prevent many people mine bitcoin

BlackPanda

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Quote from: michellee on July 02, 2018, 06:44:06 AM

in this situation, I hope that bitcoin is not down under 6k because the price is not going to down too far or increase too high and it stays in the price now. and maybe we can see that bitcoin price can increase higher in this week and in the next week. many people still wait for the bitcoin price to increase again so they can sell the bitcoin in the highest price. but there are many people also wait for the price to go down so they can buy more bitcoin. I think let we see what will happen later.

Now that the condition has started to improve and show a positive graph. I feel the price of Bitcoin has regretted the bad phase and now it's time to rise to the value of the better price. Hopefully there will be a wave and ultimately Bitcoin price will experience good stability. I feel naughty with Bitcoin when the price is still in the range of 18,000USD, I want to experience such a moment again and one we have to do is to increase the volume of Bitcoin transactions by using bitcoin in our financial transactions every day.

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