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Topic: The reason why bitcoin will never *stay* below 5000$ again. PROVE ME WRONG - page 4. (Read 2504 times)

hero member
Activity: 742
Merit: 526
The only reason of not dropping price below 5000 usd is that mining won't be profitable.

That's not the "only" reason, but a very strong one. The reason #1 is the one I posted.

This is a very weak argument really. No one gives a fuck about mining costs, let alone there being a single cost of mining in the first place. If anything, whatever bitcoin price might be (5k or 1k), there will always be enough miners as mining will always stay profitable at any price. If mining is no longer profitable for some miners, they just leave while the rest picks up the slack instantly taking their share of the reward pie (as the reward remains the same). No offense intended, but honestly, when people bring up this argument about costs of mining, you can be certain that they don't have a clue about how everything works regarding prices, costs, and other economic matters.

As to your claim in the OP, anyone with enough bitcoins (like the mtgox dude) can crash the price to 1k or even below and keep it there as long as he sees fit. There is no reason to prove you wrong as it is just a matter of someone with deep enough pockets, for example, Satoshi and his likes, choosing to dump enough coins. There is nothing to prove here.
member
Activity: 476
Merit: 12
You stated in your write up that bitcoin is a way for the wealthy billionaire to store their money offline. The wealthy will always become wealthier because they always grab any promising opportunity that comes their way while the poor people are mostly full of doubt and fear. The wealthy are not stopping the poor from buying bitcoin in order to become billionaire as well.
sr. member
Activity: 722
Merit: 258
Your version deserves attention.But to argue about the value of bitcoin, I think prematurely.Prices will definitely grow, but at this time fluctuate.I hope that up to $ 5000 will not come Cool
member
Activity: 616
Merit: 10
Dude, you can never talk about the cost of bitcoin for sure! Since its value isn't backed up by anything!
Yes, you are very correct beside the price of cryptocurrencies are unpredictable you can't tell if it will be below or above $5000 since price changes with seconds here in crypto world. Just get this no one here is ever praying for bitcoin to be below $5000 but that does not warrants the prediction.
You are right, but they all overpower, and this is understandable, because many people in the bitcoin have huge money.
jr. member
Activity: 504
Merit: 5
Dude, you can never talk about the cost of bitcoin for sure! Since its value isn't backed up by anything!
Yes, you are very correct beside the price of cryptocurrencies are unpredictable you can't tell if it will be below or above $5000 since price changes with seconds here in crypto world. Just get this no one here is ever praying for bitcoin to be below $5000 but that does not warrants the prediction.
jr. member
Activity: 182
Merit: 1
all the truth the author bitkoin really never already to fall below 5k precisely because its mining simply will be unprofitable
member
Activity: 616
Merit: 10
One of the reason why prices are likely to raise again is that the big miners (Bitmain, etc) won't allow the price to tank too much or they will lose money. They have probably sold a lot of BTCs at ATH and now they should be full loaded with cash that at some point they will use to buy back, to protect their mining investment.

That's a really good thought! I think other mining pools will do the same, becouse all huge investors have similar strategy.
full member
Activity: 340
Merit: 100
One of the reason why prices are likely to raise again is that the big miners (Bitmain, etc) won't allow the price to tank too much or they will lose money. They have probably sold a lot of BTCs at ATH and now they should be full loaded with cash that at some point they will use to buy back, to protect their mining investment.
member
Activity: 616
Merit: 10
Bitcoin and the whole cryptography industry are very different from the traditional market, and I think that to be confident in something is simply meaningless at the moment. It seems to me bitcoin can cost 3000 dollars.
jr. member
Activity: 154
Merit: 1
completely agree with the author and also think that the people who wait for bitcoin for 5k are simply insane and will buy it for 12k
full member
Activity: 462
Merit: 100
Current Market cap is 120b $ (actually real market cap much lower than that due to lost btc and so on); that could be 1000 people with 120m$ hidden. Anyone who has approximately that amount of btc would be very able to buy the market would it temporarily drop significantly below 5000$ per btc, due to the very limited (and shrinking) actual supply of bitcoin and availability in the exchanges.

I think what we witnessed in last december will happen again and at a greater extent. Don't ask me when, but that's a given.

Bitcoin has been chosen.
Why? Possibly positioning.

Price won't give a fuck on whether it can be used everyday to buy stuff. Its purpose it for wealthy billionaires to keep part of their wealth inaccessible through offline wallets.
Whether tx take 1 hours to go and cost 10 bucks each.
Whether the nodes get a little bit more or a little bit less centralized.

All that matters is the one reason I stated above.
Everything else is just smoke for sardines.
actually the price of bitcoin depends on traders and investors, we cannot predict clearly how the price of bitcoin will be in the future. but we can judge from the development of bitcoin so far, and I am very confident that the price of bitcoin will rise higher.
sr. member
Activity: 578
Merit: 250
if someone sells huge reserves of their funds in bitcoin, the price can be reduced by the chain of orders less than $ 5000, if anyone needed it, he would do it
legendary
Activity: 3542
Merit: 1965
Leading Crypto Sports Betting & Casino Platform
The Bitcoin price is based on Supply & Demand and it could care less about who earns, what amount of coins.  Roll Eyes Yes, if a lot of people are hoarding coins, then the supply will drop and the price will go up.   The problem is, if the demand goes down for the coins, then people can hoard as much as they like, the price will just keep going down.

The $5000 stronghold is holding it's position, because the demand is there to support it.  Grin
jr. member
Activity: 266
Merit: 1
My opinion why bitcoin still doesn't fall below 5000 is that most of all bitcoin investor bought their bitcoin around 6k and above. So they don't want to sell their bitcoin for as low as 5k because that doesn't pay tgeir capital so they chose to hold it for now and wait others to play the market.
full member
Activity: 294
Merit: 123
The World’s First Blockchain Core
Current Market cap is 120b $ (actually real market cap much lower than that due to lost btc and so on); that could be 1000 people with 120m$ hidden. Anyone who has approximately that amount of btc would be very able to buy the market would it temporarily drop significantly below 5000$ per btc, due to the very limited (and shrinking) actual supply of bitcoin and availability in the exchanges.

I think what we witnessed in last december will happen again and at a greater extent. Don't ask me when, but that's a given.

Bitcoin has been chosen.
Why? Possibly positioning.

Price won't give a fuck on whether it can be used everyday to buy stuff. Its purpose it for wealthy billionaires to keep part of their wealth inaccessible through offline wallets.
Whether tx take 1 hours to go and cost 10 bucks each.
Whether the nodes get a little bit more or a little bit less centralized.

All that matters is the one reason I stated above.
Everything else is just smoke for sardines.

No. you are right. There are nothing to beat bitcoin at this time and it's still like this , too. Everytime bitcoin is down then all altcoins are in blood storm.
Therefore bitcoin is very important and a major figure in the cryptoworld.
legendary
Activity: 3472
Merit: 10611
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Yes, I do agree because in market anything can happen. This market can't run only by whales manipulation. If I'm not wrong, currently many small investors also holding a large percentage of bitcoins. At this time if some bad news comes out about the crypto market then in a panic all small investors start selling then whales can't hold the price at $5000.

a bad news coming out and price dropping because of it is not the same as whales manipulating the price and trying to crash it. the reaction to bad news is coming from the market itself as everyone sells, for example if ETF is rejected it will be a bad news and there will be panic sells and every speculator would want to take advantage so they'd sell. but a couple of days ago when they kept trying to push it below $6k was manipulation and it failed.
legendary
Activity: 1316
Merit: 1011
You are saying this because of the present situation of bitcoin is misarable but don't forget there are a large number of people who are still grabing the opportunity to buy bitcoin in low price so, 500$ will never happen.

It is not $500 but OP is talking about $5000.

I think billionaires are probably looking at safer things to place their money in than Bitcoin. The billionaires that are involved with Bitcoin are probably people that got in early on.

I don't see how you can assume the price can't go lower than $5000. It easily could dip lower and never come back up by people selling and not thinking it will ever go up.

Yes, I do agree because in market anything can happen. This market can't run only by whales manipulation. If I'm not wrong, currently many small investors also holding a large percentage of bitcoins. At this time if some bad news comes out about the crypto market then in a panic all small investors start selling then whales can't hold the price at $5000.
jr. member
Activity: 518
Merit: 1
I do not doubt anything else in this market. It is very bad to see that bitcoin does not have the strength to rise and that sales are much stronger than purchases.
newbie
Activity: 168
Merit: 0
Bitcoin is a great coin for invest. Day by day this projects popularity increasing because of their performance. That’s why I believe bitcoin will not touch below $5000.
member
Activity: 238
Merit: 15
Dude, you can never talk about the cost of bitcoin for sure! Since its value isn't backed up by anything!
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