Exactly. So what if we poke up above $3 for a little bit. I'm confident that a week from now we'll be below $3 consistent with the clear abandonment of bitcoin.
Judging from the future difficulty estimates, I'd say enough miners finally threw in the towel to bring demand in line with supply. I think we'll probably see a slow and steady rise in price until the next difficulty reset.
Supply from mining is always constant. A falling price does not reduce new mining supply.
. But the uptrend looks great, not many walls for bitcoin to surmount.
