Is it just me or everyone is concerned? - page 5.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: amphibian on August 28, 2018, 11:00:18 AM

For quite sometime now I have been secretly praying and hoping that Bitcoin doesn’t rush with this upward trend.
I do not think the miners will be able to keep supporting bitcoin mining if the price goes below 6000$.
Hopefully my prayers seem to have been answered as I can see an organic in bitcoin value to 7000$ for a while. Do you think this is an organic rise in bitcoin value and is it likely to remain within the ranges of 7000$ without dropping? Share your emotions and opinions guys!

I really do like your optimism about bitcoin, however, I don't agree that your prayers have been answers. I mean there's no divine intervention that I'm seeing. As far as organic , I doubt that we are going to see that, this market is prone to manipulation. I'm not saying that I don't like the price increased, I'm very bullish about it, but its hard to take away some manipulation from behind because the price suddenly increases like $300 in less than an hour if I'm not mistaken.

Retty

member

Activity: 154

Merit: 47

Glad you brought this up actually, i was wondering the same thing.

I was a little concerned that if the price dropped then it would be catastrophic because of what you mentioned.

The other thing that kind of worries and excites me at the same time is- what happens when the halving starts in 2020? Miners will be receiving half the reward for mining so what does that mean? Does the price of Bitcoin have to be very high (higher than what it is now which i expect) to make mining profitable? Or does it mean that its not going to be financially worth it if it hasn't reached these levels?

If anyone could enlighten us i'd be grateful! Wink

BrewMaster

legendary

Activity: 2128

Merit: 1293

There is trouble abrewing

if miners can't make ends meet in case of a price drop then they will shut down their miners. but this is not something that happens for all of them. only some miners are affected and as a result only some of them shut down their miners while others continue mining.
and as this happens, difficulty comes down and things go back to normal.

amphibian

member

Activity: 210

Merit: 10

For quite sometime now I have been secretly praying and hoping that Bitcoin doesn’t rush with this upward trend.
I do not think the miners will be able to keep supporting bitcoin mining if the price goes below 6000$.
Hopefully my prayers seem to have been answered as I can see an organic in bitcoin value to 7000$ for a while. Do you think this is an organic rise in bitcoin value and is it likely to remain within the ranges of 7000$ without dropping? Share your emotions and opinions guys!

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