Do not expect too much from bitcoin halving, everyone has circled that as a big deal in their calendar but the reality is halving is not a huge thing as much as people imagine it is. Let me break it down to numbers for you.
Right now, even the old machines that are now renewed in march with antminer s17, the s9's are still making a profit with around 7-8 thousand dollars cost of mining, that means at 10k, they are making a profit, considering nothing will change they will have half of what they used to make and that will drop it 5k profit or mainly 14-16k cost to mine, with some more machines rolling out it is easier to say it will be around 15-17k easily, however there are newer machines who can mine 1 bitcoin at 4k which means even the double cost would be 8k and that is STILL profitable at 10k. So to say that miners require at least double of this price is simply and mathematically wrong, there are miners who can profit to continue like this with no change in price even after halving.
Topic: Is it correction time? Market down by 8% - page 2. (Read 774 times)
I guess so because we almost get in the downtrend in 2 weeks, so maybe it is the time to see another high, but to break $10,500 still be difficult.
i don't get why some people refer to the current situation as a "downtrend". it doesn't make any sense. a downtrend is where price keeps going down and losing value, whereas what we have in the market nowadays is going "sideways" which is both up and down between $9200 and $10500. the entire month of February was like this.
I guess they also have their own definition of a " downtrend" which is also wrong. Because a trend is a continuous movement without changing direction, though it may slightly changes its direction at some point, but in the long run it will display an obvious outcome.
IMHO, most of the time people who calls a slight pull back of price a "downtrend" has a very bullish mindset, which easily get upset if Bitcoin decreased its value.
It the bullish trend is not changing then that is a parabolic rise, I believed. But we all know that at least bitcoin is having a 'healthy pullback' at some time before continuing the positive trend.
As you can see in the last days, it seems that the price is inching at $10k again, so we see retracement to $9500-$9600. So we don't need to get upset, what we need is more patience.
I guess so because we almost get in the downtrend in 2 weeks, so maybe it is the time to see another high, but to break $10,500 still be difficult.
i don't get why some people refer to the current situation as a "downtrend". it doesn't make any sense. a downtrend is where price keeps going down and losing value, whereas what we have in the market nowadays is going "sideways" which is both up and down between $9200 and $10500. the entire month of February was like this.(...)
, like in hourly chart timeframe, they can easily say if it's downtrend because of lot of red candles.For what I understand of downtrend or uptrend is on viewing it on highly timeframes, like daily timeframes, weekly time frames or monthly timeframes. The higher timeframes you used, the higher proof you can say it's uptrend or downtrend.
I guess so because we almost get in the downtrend in 2 weeks, so maybe it is the time to see another high, but to break $10,500 still be difficult.
i don't get why some people refer to the current situation as a "downtrend". it doesn't make any sense. a downtrend is where price keeps going down and losing value, whereas what we have in the market nowadays is going "sideways" which is both up and down between $9200 and $10500. the entire month of February was like this.
I guess they also have their own definition of a " downtrend" which is also wrong. Because a trend is a continuous movement without changing direction, though it may slightly changes its direction at some point, but in the long run it will display an obvious outcome.
IMHO, most of the time people who calls a slight pull back of price a "downtrend" has a very bullish mindset, which easily get upset if Bitcoin decreased its value.
I guess so because we almost get in the downtrend in 2 weeks, so maybe it is the time to see another high, but to break $10,500 still be difficult.
i don't get why some people refer to the current situation as a "downtrend". it doesn't make any sense. a downtrend is where price keeps going down and losing value, whereas what we have in the market nowadays is going "sideways" which is both up and down between $9200 and $10500. the entire month of February was like this.
The price has settled around $9600 already so I think the retracement has slowed down a bit. Although trading in weekends are kind of slow, but I do think that the market has somewhat reached the lower lows so I'm not expecting another further downside.
Next is very interesting, are we going to get to 5 digits again and then goes on another high around $10500? So let's see how it goes in the last week of February.
It's moving up again but still far from $10500 level but just like what happened before after some downfall bounce back will take place, most of the time those who are dealing with scalp trades are the beneficiaries of this kind of market situations, if you've got a strong knowledge you'll be able to position yourself and take profits from doing day trade system.Next is very interesting, are we going to get to 5 digits again and then goes on another high around $10500? So let's see how it goes in the last week of February.
Moving forward to see another double digits since halving is getting nearer if there's lots of new investment to flow around this market will be bouncing
much stronger.
The price has settled around $9600 already so I think the retracement has slowed down a bit. Although trading in weekends are kind of slow, but I do think that the market has somewhat reached the lower lows so I'm not expecting another further downside.
Next is very interesting, are we going to get to 5 digits again and then goes on another high around $10500? So let's see how it goes in the last week of February.
Next is very interesting, are we going to get to 5 digits again and then goes on another high around $10500? So let's see how it goes in the last week of February.
I guess so because we almost get in the downtrend in 2 weeks, so maybe it is the time to see another high, but to break $10,500 still be difficult. But that can be done if many support and big demand from traders so the price can slowly increase to that price. We need to wait for more because we are at the weekend, and this time, we don't know if tomorrow will be the time for bitcoin to increase back or not. Congratulations to people who can use the time to buy bitcoin at a low price so they can expect to make a profit later.
The price has settled around $9600 already so I think the retracement has slowed down a bit. Although trading in weekends are kind of slow, but I do think that the market has somewhat reached the lower lows so I'm not expecting another further downside.
Next is very interesting, are we going to get to 5 digits again and then goes on another high around $10500? So let's see how it goes in the last week of February.
Next is very interesting, are we going to get to 5 digits again and then goes on another high around $10500? So let's see how it goes in the last week of February.
The "decrease is good" notion came from the reality that if a price of anything falls but doesn't fall too much after a huge increase, that means increase may not be over.
By logic let me explain it with an example; if bitcoin price went from $7k to $10k and dropped to $8k, that would be the "bad decrease" how if it moved from $7k to $10k and moved only to $9.4k or so, that is a "good decrease", not that any decrease is a good decrease in any way but this is said more for the reason that maybe the increase is not just yet over and even when the price is trying to go down it is not allowed and kept at a high price, that is exactly the reason why people are still bullish about bitcoin even after the fall of the price, "correction" always happens and welcomed as long as it doesn't turn into a bear run.
By logic let me explain it with an example; if bitcoin price went from $7k to $10k and dropped to $8k, that would be the "bad decrease" how if it moved from $7k to $10k and moved only to $9.4k or so, that is a "good decrease", not that any decrease is a good decrease in any way but this is said more for the reason that maybe the increase is not just yet over and even when the price is trying to go down it is not allowed and kept at a high price, that is exactly the reason why people are still bullish about bitcoin even after the fall of the price, "correction" always happens and welcomed as long as it doesn't turn into a bear run.
The current downward trend of the market value of Bitcoin is some how good
for you and to some yes but for me , i dont consider every decrease good . Quote
traders who will use this opportunity to buy at a lower price pending when the market increase and it is a bad move for those who may want to sell
obviously bad if you sell when you bought at higher price before but the dip is always a good time for buyers to make a move .dump of the price always means a correction especially if it happen after a good pump . and you said only 8 percent ? not bad at all for me but not good to some that who wanted to dump the price more harder just because they wanted to accumulated more coins .
Same thing happened in summer 2019 when BTC went to $13 000 everyone was screaming Bullrun. Of course it was just a little tease.
People were just buying for the upcoming halving and restocking their coins for cheap. I assume we have the same situation here.
It's just a little foreplay before the real game starts.
I'm hoping that it's the same scenario that we have right now and this is more encouraging because of the near approach of halving. No need to look for the cause this time because a downtrend makes everybody to wait until the drops stop.People were just buying for the upcoming halving and restocking their coins for cheap. I assume we have the same situation here.
It's just a little foreplay before the real game starts.
And when it happens, everyone will start to get their buying positions ready until it hikes again. I wish that $9500 is the support this time and it's still a decent price imo.
i would put a stop loss under $9200 just in case.
Whew, and that order might get executed too, the way the market is going right now. Bitcoin is at $9531 as we speak, which is about a $700 drop from yesterday's high--this is one hell of a volatile time, and you actually gave some good advice for short-term traders who want to limit their losses, although I would argue that if bitcoin got as low as $9200 it would probably be better if you started buying the dip instead of selling. I don't think the overall trend is down.And yeah, this is a minor correction in the making. I'm sure plenty of traders made some decent money when bitcoin broke through the $10k barrier, and many of them are cashing out their profits. But hopefully bitcoin will get back to where it was. It hasn't been taking long for it to rebound from these dips, but we'll see.
Yeah, it's just over $9500 now so there's a 'huge' drop from $10100-$10150 from yesterday. Really volatile and unpredictable, others might say that the push above $10k again is just a bull trap as the price immediately went on a downward spiral. Definitely, @9200, good price to pick up and buy in the dip and take that opportunity again.
I think this dip will be good as straight up movement with no stabilization and dips is not solid i would like to see slow but steady move upwards and we should not be in hurry as bull cycle will stay here for many many months.
The current downward trend of the market value of Bitcoin is some how good traders who will use this opportunity to buy at a lower price pending when the market increase and it is a bad move for those who may want to sell at all costs as a result of one personal problem or the the other at this time. 
I would more assume the downtred at $8,500 , continuous, within a day, for a correction or downtrend point. Because for me, that decrease is huge enough to be continuous. I don't have a supportive claim , just personal analysis because that is what I have observed before.
That's what I said. I've only said one target that seems to me good. Everyone has their own thoughts. That is normal.I am aiming for a long term hold. So do not worry so much about short-term correction. Going to market correction which is normal. I am buying bitcoin regularly. If the market goes a little correction before I make my purchase. Then the good news couldn't be more for me.
i would put a stop loss under $9200 just in case.
Whew, and that order might get executed too, the way the market is going right now. Bitcoin is at $9531 as we speak, which is about a $700 drop from yesterday's high--this is one hell of a volatile time, and you actually gave some good advice for short-term traders who want to limit their losses, although I would argue that if bitcoin got as low as $9200 it would probably be better if you started buying the dip instead of selling. I don't think the overall trend is down.And yeah, this is a minor correction in the making. I'm sure plenty of traders made some decent money when bitcoin broke through the $10k barrier, and many of them are cashing out their profits. But hopefully bitcoin will get back to where it was. It hasn't been taking long for it to rebound from these dips, but we'll see.
ITs a correction to leaving the previous bullish channel. Doesnt mean its that harsh and also we can correct over time not just price.
We are reacting to monthly average but below a weekly average which I estimate means near term action is in a negative phase. Buyers still involved but aspirations are capped by previous resistance I think, I reckon we resolve lower.
We are reacting to monthly average but below a weekly average which I estimate means near term action is in a negative phase. Buyers still involved but aspirations are capped by previous resistance I think, I reckon we resolve lower.
maybe this is the time of correction not that day because Market still pumped the following days but today?it is seen that market continue for dump from $10,200 falls to $9,500 it is Bigger than what the last dump happen so basically we will now ready to wait for the final dump to start the Bull for the halving season in which will happening this second quarter.
That's what I said. I've only said one target that seems to me good. Everyone has their own thoughts. That is normal.I am aiming for a long term hold. So do not worry so much about short-term correction. Going to market correction which is normal. I am buying bitcoin regularly. If the market goes a little correction before I make my purchase. Then the good news couldn't be more for me.
we have our own strategy mate while we are both for long term holding others are maintaining their DayTrading and Semi long term so let us respect each others choices .
I would more assume the downtred at $8,500 , continuous, within a day, for a correction or downtrend point. Because for me, that decrease is huge enough to be continuous. I don't have a supportive claim , just personal analysis because that is what I have observed before.
That's what I said. I've only said one target that seems to me good. Everyone has their own thoughts. That is normal.I am aiming for a long term hold. So do not worry so much about short-term correction. Going to market correction which is normal. I am buying bitcoin regularly. If the market goes a little correction before I make my purchase. Then the good news couldn't be more for me.
you have predicted it right mate because now we are suffering from fall again maybe this is the effect of Correction?downing from Above $10k and now almost falling to $9,500 ,somethings changing this way and i think yeah this is correction.
but i think this will not last long and sooner we will be on top again as Halving is coming nearer right?
there is only 20-25 $ billion has been take out from the market capitalization this is not that big to expect a total dump and also market is recovering slowly each time the fall happens.
but i think this will not last long and sooner we will be on top again as Halving is coming nearer right?
there is only 20-25 $ billion has been take out from the market capitalization this is not that big to expect a total dump and also market is recovering slowly each time the fall happens.
Same thing happened in summer 2019 when BTC went to $13 000 everyone was screaming Bullrun. Of course it was just a little tease.
People were just buying for the upcoming halving and restocking their coins for cheap. I assume we have the same situation here.
It's just a little foreplay before the real game starts.
We can not really determine the possible cause of the dump in the price of Bitcoin. The best we can do is guess what might be the reason behind it. My best guess is correction because, all crypto users know that Bitcoin would go into halving in may and they wouldn't not even think on selling Bitcoin before it. After the correction, I believe the price of Bitcoin will continue to increase in the coming months as the halving definitely comes closer.
This is just a slight correction and I am not anymore expecting it will ever go down again, as of today, it seems like the price is now quite stable and I would not be surprise if bitcoin will rise back to $10,000 again and will create a new high this year (not an ATH).Next jump would probably be $11,000.
you have predicted it right mate because now we are suffering from fall again maybe this is the effect of Correction?downing from Above $10k and now almost falling to $9,500 ,somethings changing this way and i think yeah this is correction.
but i think this will not last long and sooner we will be on top again as Halving is coming nearer right?
there is only 20-25 $ billion has been take out from the market capitalization this is not that big to expect a total dump and also market is recovering slowly each time the fall happens.
but i think this will not last long and sooner we will be on top again as Halving is coming nearer right?
there is only 20-25 $ billion has been take out from the market capitalization this is not that big to expect a total dump and also market is recovering slowly each time the fall happens.
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