Topic: Will Bitmain Defend BTC at 5800 - 6000 USD? - page 2. (Read 484 times)
Bitmain is a successful mining Company mining BTC for long. I feel positive for them. But the market doesn't rely on only the mining. There are hypes, peoples influences and other factors that influence the BTC market also.
No one needs to defend bitcoin. It will recover on its own and also bitmain owns just 4-5 % of total hash power. They wont try to do this.
Bitmain is privately owned company that’s use to mining crypto. So they dominate over crypto. It’s a most profitable company. But wish they can’t defend BTC.
Bitmain is an operator of one of the largest Bitcoin mining pools. It is one of the largest and most successful producer of ASIC as well. I think in this market of pump and dump, Bitmain is going to defend Bitcoin.
And why should they defend it? To save the people that screams "Boycott Bitmain!!!" the whole time on every social media?
Bitmain is an operator of one of the largest Bitcoin mining pools. It is one of the largest and most successful producer of ASIC as well. I think in this market of pump and dump, Bitmain is going to defend Bitcoin.
so we went from Bitmain is evil and Jihan Wu is the devil to Bitmain should come save the price for us because we are bag holding. is that it? 
Exactly that. Now Bitmain has too much at stake to let BTC price dump too low while earlier Jihan Wu just wanted to destroy bitcoin and become the world's evil emperor or some shit like that.
Maybe because bitcoin market price still remain at 6K USD even if most of the crypto in the market are falling that much. This is the main reason why holding for now is still best thing to do because we can still see a positive side of bitcoin and that is its baseline market price which is 6K USD. We should not fear the possible outcome of bitcoi instead we should be happy for sure there is something really good in the near future.
I say : Yes. They have a lot at stake and have the cash to do it!
BTC is the Future!
The price of bitcoin is strongly holding at this level even after many crashes so it makes the people think that it won't fall again so people will consider this as the bottom level and try to invest now.On the other side ETF speculation also has influencing the bitcoin prices so it may changes the price from $6000 level.SO nothing for sure just hope that price will recover. BTC is the Future!
so we went from Bitmain is evil and Jihan Wu is the devil to Bitmain should come save the price for us because we are bag holding. is that it?
There is no guarantee what will happen. The bitcoin market is too volatile. Any prediction might end up being wrong. But bitmain plays and important role in the bitcoin mining and they surely have a significant amount of stakes on hold. The number of bitcoin reward is decreasing while the difficulty is increasing. With only 4 million bitcoin left to mine, I guess the price will soon go up.
The people are still hoping and believes that BTC will be able to recover from the dip. And that is why the people in the market believes that it will defend BTC
I say : Yes. They have a lot at stake and have the cash to do it!
BTC is the Future!
I hope they will actually do something. Because if the bitcoin price drop under 5000 usd, there will be no profit for miners, then they stop mining bitcoin lead to the collapsing of the network. BTC is the Future!
I say : Yes. They have a lot at stake and have the cash to do it!
BTC is the Future!
BTC is the Future!
Well not sure to be honest. They have converted a lot of their btc into bch and supposedly now hold over 1 million BCH.
Yet BCH has plenty of other risks associated with it and is unlikely to survive if BTC falls to much.
yet Bitmain also have their IPO coming up and would need a relatively high price for BTC and BCH in order to sell their IPO successfully, so perhaps they will defend the price to some extent.
however take note that bitmain has performed very poorly in Q2 and Q3 this year. They have burned through a lot of their cash while their last few miners are terribly inefficient and have by and large failed, with one of them being less efficient then a GTX 1080 TI, so not sure how much exactly they have left in the tank to defend the price.
Even with a dip, the people still highly believes in this coin and believes that it is the future of the market. So a huge yes.
but what is going on actualy, why is all going down? makes no sense.
I think it’s not possible for Bitmain to defend BTC. Because BTCs popularity increasing gradually and it is also stable in this market.
no they won't.
but the total market sentiment is buy if price goes anywhere below $6k or near it and you can see it on the charts today. there is a strong buy support which is buying it up although the whales have been dumping a lot of bitcoin today trying to push it lower and also there is a panic sell going on but it still is holding strong.
here is why a miner like Bitmain won't do shit:
they have a large hashrate and they are not a small pool to need to sell right away to pay their costs and employees. they have enough money to cover it for more than a year possibly. so if price goes down it will be profitable for them because small miners will go away while they will still remain. so now (assuming price has actually falling a lot not just 5%) the total hashrate can go down while they gain a higher percentage and can find more blocks. result is earning more bitcoin. even if they find 1 more block per day that is going to be between 12.5 to 14 BTC profit.
but the total market sentiment is buy if price goes anywhere below $6k or near it and you can see it on the charts today. there is a strong buy support which is buying it up although the whales have been dumping a lot of bitcoin today trying to push it lower and also there is a panic sell going on but it still is holding strong.
here is why a miner like Bitmain won't do shit:
they have a large hashrate and they are not a small pool to need to sell right away to pay their costs and employees. they have enough money to cover it for more than a year possibly. so if price goes down it will be profitable for them because small miners will go away while they will still remain. so now (assuming price has actually falling a lot not just 5%) the total hashrate can go down while they gain a higher percentage and can find more blocks. result is earning more bitcoin. even if they find 1 more block per day that is going to be between 12.5 to 14 BTC profit.
The 6000 level seems to be a bit strong
I hope it will be prove and will be a starting point
the Great support is by buy
And not to sell on these prices
I hope it will be prove and will be a starting point
the Great support is by buy
And not to sell on these prices
The strong support of btc lies at 6k usd and also we do not know what are the other geopolitical events whoxh are going to hamper the present momentum. I suggest everybody that as long as btc drops keep buying g at different prices to keep the averaging on and also minimise losses. Many across the globe does this and no worry of price fluctuations.
I say : Yes. They have a lot at stake and have the cash to do it!
BTC is the Future!
[/quoteYou can see that the current $ 6000 level is a very strong support level and bitcoin prices have fallen dramatically so far this tangled up again. Therefore, I believe that the bitcoin price will be able to maintain above $ 6,000. Although the market is bearish in the long run, but as an investor, I believe you can trust the market and continue to invest in bitcoin.
BTC is the Future!
[/quoteYou can see that the current $ 6000 level is a very strong support level and bitcoin prices have fallen dramatically so far this tangled up again. Therefore, I believe that the bitcoin price will be able to maintain above $ 6,000. Although the market is bearish in the long run, but as an investor, I believe you can trust the market and continue to invest in bitcoin.
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