Why is BTC now ~$8,780? Simple... - page 3.

Wexnident

hero member

Activity: 2702

Merit: 672

I don't request loans~

Quote from: wajik-tempe on November 10, 2019, 01:53:52 AM

So, if this calculation is valid. It means the price after the halving will at least doubled from this current price and it's make sense. So, i'm sure it's the buts time to buy bitcoins because the hashrate will doubled right after the halving held. But it will only happen when the demands is still the same just right now. If people are leaving and no investors are interest with bitcoin the price maybe less.

You're already putting your hand in the supply and demand factors of BTC so why are you still including hashrates in it? You've already stated a possible reason for BTC price dump, demand.
Hashrates have never been (or at least, as far as I know) a factor in judging possible market pumps and dumps. Market price fluctuates and changes because of the supply and demand of BTC, and how willing is the market to accept a certain supply for a certain price.

Juggy777

hero member

Activity: 2646

Merit: 686

Quote from: SapphireSpire on November 09, 2019, 08:39:01 PM

Miners, get your hashrate up and increase the price!

Quote from: Kemarit on November 10, 2019, 12:08:14 AM

How about the most basic factors? Supply and Demand?

Bitcoin prices have always been influenced by supply and demand, and you can check the historical records of bitcoin prices to understand why hashrate is not an important factor in the increase of prices. I believe this is some kind of fud that’s been spread around to confuse the investors, hence I would advise you’ll to do your research and not rely on all statements that are posted here.

wajik-tempe

sr. member

Activity: 1022

Merit: 252

Quote from: SapphireSpire on November 09, 2019, 08:39:01 PM

Because the real price is:

(current hash rate in EHS) / $0.01

Recent hashrate was 82 EHS, therefore:

82 / $0.01 = $8,200

So even at ~$8,780, it's still a little over-priced.

Miners, get your hashrate up and increase the price!

So, if this calculation is valid. It means the price after the halving will at least doubled from this current price and it's make sense. So, i'm sure it's the buts time to buy bitcoins because the hashrate will doubled right after the halving held. But it will only happen when the demands is still the same just right now. If people are leaving and no investors are interest with bitcoin the price maybe less.

marcbitcoins

full member

Activity: 854

Merit: 108

All market prices like the stocks and the crypto currency investment will always depend on supply and demand in which for now there are lot of people are preferred to sell their Bitcoin rather than holding it for the long term making the Bitcoin users to continue to diminish.

Upgrade00

legendary

Activity: 2114

Merit: 2248

Playgram - The Telegram Casino

During the bear period experienced early this year, the value of Bitcoin plummeted to below $4k. At this point many miners closed down their rigs as it was unprofitable to keep searching for and confirming blocks. And the drop in miners reduced the competition and hence the hash rate, this shows that has rate adjusts to the market value of Bitcoin rather than the reverse.

Stargazer

sr. member

Activity: 641

Merit: 253

▰▰▰ Global Cryptocurrency Paymen

You are wrong here, bitcoin price is not dependent on miners hash rate. If it that easy then every miner would do that to push the Bitcoin price. This price dump can be a manipulation by the whales so that people can sell at low and they can fill their new bags! But it can be calm before the storm. In December, the crypto market may see a very good pump!

Kemarit

legendary

Activity: 3080

Merit: 1353

I don't know, lately I have noticed threads about hashrate=bitcoin price? How about the most basic factors? Supply and Demand? I guess that's the simplest form as to why the price goes down and up. I'm not discounting the fact that hashrate might has a affect, but I doubt that we can simply divide numbers here and come up with the supposedly price of Bitcoin. And the OP is saying that is is over valued? LOL, it just blows my mind.

adaseb

legendary

Activity: 3808

Merit: 1723

No it doesn't work that way. Usually it's the other way around. The hashrate is determined by the price and not the other way around.

I think this poster has it confused with some other formula, and that formula takes into account the amount of transactions and active addresses if I recall. And from what I remember we are way above that figure, it was somewhere in the $4500-$5000 range.

Fatunad

sr. member

Activity: 2226

Merit: 347

It does really work that way?
If price depends on the hashrate then there should be a lot of people knows where the price is going and a lot of people do not lost their investments due to the unpredictable price movement. I really do hope its just that easy to predict the btc price.

CryptoBry

sr. member

Activity: 1008

Merit: 355

Quote from: SapphireSpire on November 09, 2019, 08:39:01 PM

Miners, get your hashrate up and increase the price!

I am hoping it is as simple as that, just raising the hashrate can mean that the price of Bitcoin will also be adjusting itself. The thing is that no matter how high the hashrate if the market is still lukewarm to Bitcoin then the price will be under the influence of the bears. Market manipulators do not care about the hashrate, they are more concerned if they can pull off their magical wand and move the market the way they wanted to. This is all business here, nothing more nothing less. However, I really love your very simple computation.

SapphireSpire

jr. member

Activity: 49

Merit: 38

Because the real price is:

(current hash rate in EHS) / $0.01

Recent hashrate was 82 EHS, therefore:

82 / $0.01 = $8,200

So even at ~$8,780, it's still a little over-priced.

Miners, get your hashrate up and increase the price!

Topic: Why is BTC now ~$8,780? Simple... - page 3. (Read 509 times)