From the recent rise it is now currently correcting itself and hope that it will stay at this level.
We are far from $12k and only another pump will make it but eventually correct again to $10k
correction is the right way of telling people that this market is still Healthy to invest with because if the price is just
continue growing then trust me that means manipulation because after continues Growth they will pull down the investment
and a sudden fall down will happen and not like what is happening now that market stays in certain
level for the investors not to feel being cheated and this is what we call correction,the next Run will give us way to
trust our market and make investment if we dont want to be late and bitter when the price grow High again.
I'm pretty much okay with healthy corrections as much as with sudden dumps. Either way, both trim down the weak hands, cull the speculators and provide more average entrants with lower entry points.
The longer it takes for the next parabola to emerge, the stronger the momentum and the likelier we break past and form permanent support above 10k, which is ideal.
10k floor is not good enough for the ½ ing floor needs to be over 13k.
at 13k it would be the same as 6.5k now.
100th mining right now is 0.001576 btc or 10.24 if we were at 6500
100 th with the best gear uses 100kwatts a day which is about 4 dollars in power and other expenses and you are at 5 dollars cost not counting gear purchased.
It would be tight at 13k come may ½ ing.
at 5k or 10k pre ½ ing earnings are 7.88 take off 5 dollars daily cost you are at 2.88 not counting cost of gear purchased.
So 10k will be a hurtful number for mining.
13k a bearable number for miners.
Like it or not mining drives the industry. As the asic builders have big money and big incentive to sell gear.
