If you look at BTC historically we should expect this lull to continue through August and to at least mid September. With most likely going down slowly to 8k, 7k at most, not expecting to lose more then 20% of the current value, most likely numbers will be closer to 13-15%.
After that Covid second wave can be a factor and cause some disruption with further flash decline and recovery, but I think personally that Ocotber will be the beginning of bull, slowly rising to 9k-10k values again, breaking 10k-11,500 in November and rallying towards 17k in December, Jaunary.
After that I'm not sure if we are gonna range or continue and reach new ATH.
Of course I don't know shit, but this is my prediction in general.
Topic: Miner's Strike! - page 2. (Read 338 times)
It was boring and dead after the previous halving. Same this time. The excitement is over. No halving hype. No virus terror any more either. That type of spasm can only happen once.
As for miners, any sensible miner sells their coin off market. There's no need to go on an exchange. OTC will take care of it. They're a market irrelevance.
As for miners, any sensible miner sells their coin off market. There's no need to go on an exchange. OTC will take care of it. They're a market irrelevance.
Right, there's no more hype after the halving, so no FOMO to push the price to what people wanted, $10k at least. But if there are no news to sell the market, then we will see investors looking for other ways to make money, maybe they got on board with the Defi and the whole staking. For miners, its been two months as the OP has said, those who wishes to cash out or wanted to exit the mining business is sure be gone by now. No sensible miners are trading thru exchanges, better options for them is OTC.
Everyone is just waiting for the mega bull market to appear out of nowhere. I don't think it works that way. But I don't discard the fact that I might be stupid
I dunno. There's a chance the 2017 spike was caused by new retail seeing what happened before and thinking it'd happen again. 2015 was extremely static price wise form what to remember.
As for miners, any sensible miner sells their coin off market. There's no need to go on an exchange. OTC will take care of it. They're a market irrelevance.
I dunno there might be some foolish enough tondump funds on the open market but yeah, weren't otc trades starting to be tracked though too or is that just a few desks that started tracking rates? I think otc btc buyers probably try to lock in a price for the month to keep the miner providing them funds too (and I think we're up more months than we're down)...
It was boring and dead after the previous halving. Same this time. The excitement is over. No halving hype. No virus terror any more either. That type of spasm can only happen once.
As for miners, any sensible miner sells their coin off market. There's no need to go on an exchange. OTC will take care of it. They're a market irrelevance.
As for miners, any sensible miner sells their coin off market. There's no need to go on an exchange. OTC will take care of it. They're a market irrelevance.
It should be jumping with thousands of dollars just like what happened in March 2020 @$4800 then back to almost 9k.
How can you call what happened in mid March a normal event? We had pandemic and half of world got locked down. That lock down lasted for 2 months. Of course Bitcoin price crashed and of course it recovered as it always do. Current price is almost identical as few months after halving in 2016. Late summer times in crypto trading are usually slow. Little volume since traders are taking vacations.
After the halving, May 2020 we didn't see much movement on the bitcoin price.
It just moves at the range of $9,000 - $9800.
Most veterans traders will see this as an abnormal event of bitcoin price.
It should be jumping with thousands of dollars just like what happened in March 2020 @$4800 then back to almost 9k.
It just moves at the range of $9,000 - $9800.
Most veterans traders will see this as an abnormal event of bitcoin price.
It should be jumping with thousands of dollars just like what happened in March 2020 @$4800 then back to almost 9k.
Not abnormal at all. Something similar happened in the run up to the July 2016 halving. BTC doubled in price directly prior to the halving, then ranged (and eventually crashed 40% in total) in the months that followed.
On the contrary, I think the miners are having good thoughts about what will happen next.
They are not selling, so a larger chance of a pump could happen.
They are not selling, so a larger chance of a pump could happen.
It's true, miner outflows (in general and to exchanges) have been trending down. That tells me weaker miners squeezed by the halving are probably done selling, and stronger miners are waiting for a rally to sell into.
Outflow of Bitcoin From Miners at Lows Not Seen Since 2010
Keep in mind, miners (just like traders) are not always right.
So you think we need to jump down to $3800? Do you have a reason to think a drop was imminant?
On the contrary, I think the miners are having good thoughts about what will happen next.
They are not selling, so a larger chance of a pump could happen.
I think a lot of people are expecting an ath in q4 this financial year (Jan to Mar next year) or maybe q2, either way if I wee a miner and could find a way to finance the building or equipment to cover the electricity rates the why wouldn't you... Some predicted $300k some predicted just exceeding the ath, its still probably worth the risk especially if your funds ar eloaded with a stop loss/alerts anyway
So you think we need to jump down to $3800? Do you have a reason to think a drop was imminant?
On the contrary, I think the miners are having good thoughts about what will happen next.
They are not selling, so a larger chance of a pump could happen.
So you think we need to jump down to $3800?
My impression was that he is amazed we're not back to 15k or even higher.
I am not a fan of the jumping price like the 20k mark.
It should be jumping with thousands of dollars just like what happened in March 2020 @$4800 then back to almost 9k.
WHY?
Are the miners on strike to sell their coins?
If they would be then there would be fewer coins on the market and the price would normally go up, not be flat. This contradicts what those veteran traders of yours claim.
What do you think?
That a lot of people have got used to stories about x100 again in a few years and when those don't happen again and again are starting to doubt everything, trying to see conspiracy everywhere, and blame whatever they find for the fact that just buying some coins and not doing anything else is not getting them rich overnight.
So, patience and don't plan your future on million on dollars that will sprout from your wallet overnight.
LE:
So you think we need to jump down to $3800?
My impression was that he is amazed we're not back to 15k or even higher.
So you think we need to jump down to $3800? Do you have a reason to think a drop was imminant?
I think a drop is likely to come but I wouldn't put it on being now, it could be until September or even later before we rally up...
I doubt miners have this much of an affect on the price too, otherwise surely bitmain would just keep seeing how high they could pump it (or would've done when they had a large share).
I think a drop is likely to come but I wouldn't put it on being now, it could be until September or even later before we rally up...
I doubt miners have this much of an affect on the price too, otherwise surely bitmain would just keep seeing how high they could pump it (or would've done when they had a large share).
After the halving, May 2020 we didn't see much movement on the bitcoin price.
It just moves at the range of $9,000 - $9800.
Most veterans traders will see this as an abnormal event of bitcoin price.
It should be jumping with thousands of dollars just like what happened in March 2020 @$4800 then back to almost 9k.
It had been 2 months post halving.
Are the miners on strike to sell their coins?
Is this ($9200+) price of bitcoin not enough to secure all the bills that needs to be paid and some profit?
Are they keeping rewards pre-halving waiting for demand to take effect?
They cannot buy more bitcoin to increase the price due to pandemic? (Saving it for self necessities)
I don't have proof. I am just speculating here.
What do you think?
It just moves at the range of $9,000 - $9800.
Most veterans traders will see this as an abnormal event of bitcoin price.
It should be jumping with thousands of dollars just like what happened in March 2020 @$4800 then back to almost 9k.
It had been 2 months post halving.
Are the miners on strike to sell their coins?
Is this ($9200+) price of bitcoin not enough to secure all the bills that needs to be paid and some profit?
Are they keeping rewards pre-halving waiting for demand to take effect?
They cannot buy more bitcoin to increase the price due to pandemic? (Saving it for self necessities)
I don't have proof. I am just speculating here.
What do you think?
Jump to: