Dangerous price area - page 8. | Bitcointalksearch.org

alyssa85

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

Quote from: KMattox on June 16, 2018, 08:38:26 PM

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???

Not really.

Some of the miners at the margins will give up. Then the hashrate will drop and it will be profitable for the existing miners as it will be easier to find coins.

chris200x9

legendary

Activity: 1316

Merit: 1011

Quote from: HatakeKakashi on June 17, 2018, 02:47:05 AM

As of now the price of the bitcoin is $6500 and yesterday the price are down near at $6000 but it's not down very near because many people who bought bitcoin so they increase a little. The critical level for me is when the price of the bitcoin down at hundreds dollars but if the price are still thousands dollars they have big chance the price recover or become ten thousands dollars more.

If bitcoin prices go to hundreds then it will lose people interest and later recover may become difficult because new investors may not show interest to invest in bitcoins because 20K to hundreds is a too dangerous thing to happen. I think if this negative sentiment continue then it may reach around 4K level and from their, it may start moving up but not sure what is the exact market bottom.

jacee

legendary

Activity: 1302

Merit: 1025

Quote from: KMattox on June 16, 2018, 08:38:26 PM

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???

There has been similar scenarios in the past where bitcoin price dropped more severly and I think even if it looks dangerous, not all miners will stop mining. Bitcoin has recently reached it's ath this year and I think that this downfall can only be a positive impact for long term holders. Even if half of the miners do quit, people will find way to make blockchain and bitcoin more relevant to humans needs.

Pursuer

legendary

Activity: 1638

Merit: 1163

Where is my ring of blades...

no price is ever going to be a "dangerous area" for bitcoin. not $1 trillion nor $0.01. in other words even if bitcoin price drops to 1 cent it still will go on as I will be the one who picks up mining it with my PC as the difficulty drops.

that is how bitcoin works. if it is more profitable to mine then there will be more miners then difficulty will rise and make it less profitable (or better say reasonably profitable).
if price drops and it becomes less profitable to mine, some miners will start leaving (slowly) and the difficulty will drop making it easier to mine and making it more profitable to mine bitcoin (or better say reasonable profitable again). in the end the balance will be disturbed for a little while before things go back to normal again.

HatakeKakashi

hero member

Activity: 1274

Merit: 513

As of now the price of the bitcoin is $6500 and yesterday the price are down near at $6000 but it's not down very near because many people who bought bitcoin so they increase a little. The critical level for me is when the price of the bitcoin down at hundreds dollars but if the price are still thousands dollars they have big chance the price recover or become ten thousands dollars more.

Tytanowy Janusz

legendary

Activity: 2156

Merit: 1622

Quote from: Ulan01 on June 16, 2018, 09:25:13 PM

Quote from: KMattox on June 16, 2018, 08:38:26 PM

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???

I think nothing needs to be stopped, mine now does not mean lost production, but the profit is delayed. I'm sure the bitcoin value will not be less than now, bitcoin will soon increase in the next few months.

There is no economical explenation of mining bitcoin when electricy cost is bigger than bitcoin price. Saying that profit is delayed does not justifies mining bitcoin worth 5k paying for electricity 7k. Its better to stop mining and start buying. Without spending 1mil/month to mine 142 bitcoins you will spend 1 mil to buy 200 bitcoins.

Quote from: KMattox on June 16, 2018, 08:38:26 PM

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???

https://bitcointalksearch.org/topic/m.40087454
here i have explained this. Not most of mining farms will stop mining. Only few with the worst hardware, worst electricity cost and the worst management (this 6k mining cost is just average. Some are mining for 5k, some for 6k and some for 6,5k those for 6,5 are already suffering, those for 5k are doing well at current price). That will lower dificulty for others and mining become profitable at lower bitcoin price.

https://blockchain.info/pl/charts/difficulty?timespan=all
Take a look at current dificulty. It is more pumped than bitcoin price ever was. Parabola in every time period. I even think that in longterm vision it would be better for bitcoin to shake those inefficient mining farms as long as it wont mess too much with bitcoin decetralization.

as you can see its not as decetralized as everyone think.

Koro-Sensei

full member

Activity: 658

Merit: 103

Quote from: KMattox on June 16, 2018, 08:38:26 PM

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???

There's no such thing as critical price for bitcoin $6000 is still so much well i guess i can understand but only if you put your money while in 2017 Nov-Dec cause it still was high but it's still not critical for those who started at that price range but please don't spread it around here or anywhere it's as if you are saying it will die and your probably scaring other potential investors.

Ararbermas

sr. member

Activity: 2016

Merit: 283

Well sad to say it will touch down again the 5k value but it doesn't mean it will continue to decrease more , which is if that times happen IMO bitcoin need to find new another bottom line, but not on dangerous area such 4k-3k 'cause that's too much which is very wose dip ever since bitcoin touch the ATH year 2017. So perhaps around 5k is enough for the next bottom if bitcoin break psychological 6k level in my opinion.

Ulan01

jr. member

Activity: 178

Merit: 5

Quote from: KMattox on June 16, 2018, 08:38:26 PM

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???

I think nothing needs to be stopped, mine now does not mean lost production, but the profit is delayed. I'm sure the bitcoin value will not be less than now, bitcoin will soon increase in the next few months.

metribitcoin

full member

Activity: 420

Merit: 102

Yes BTC price now in the critical level support in technical analysis but from fundamental analysis price of BTC still strong and possible to going up multiple times again. I think Bitcoin miner now does not sell their BTC and hold it until the price going up. Other good news like Coinbase and Bittrex also make good fundamental for crypto that will increasing the demand.

KMattox

newbie

Activity: 32

Merit: 0

hey guys, Bitcoin is moving really dangerously to 6000/62000 price level.
If we break this level most of mining farms have to stop mining or continue to produce at loss...
this would be a really nefarious scenario!!!
who thinks Bitcoin will break psychological 6k level? what could happen then? any opinion or analysis???

Topic: Dangerous price area - page 8. (Read 1942 times)