If it drops below 300 for too long, the miners will lose their shorts. Granted, the newer miners are much more energy efficient, but the miners are partly to blame, they should hold more and just sell enough to pay for expenses, but I do think that some of this sell of is due to bitcoin thefts, there have been plenty of them in the past year, im only guessing, but thats all you can do in this fucking game. Im considering selling off and catching at the bottom, I feel that we may test 250 or lower.. I hope im wrong, but not if I sell, lol..
Ill stick to my guns and hodl, I just need to find some cash to buy at the low prices.
There has been a sort of a spike in days destroyed, earlier this month, so this may be accurate. I've expressed my musings on this and still think though, that it's been orchestrated by some (or many) large pools. At these prices, if you don't have a great stash of fiat/bitcoins you're simply out of business.
https://blockchain.info/charts/bitcoin-days-destroyed
