Bitcoin Forum

It looks like both of them are leveling off with time. Do you think that could be because bitcoin is becoming better established and now people have a better idea of its worth as well as bitcoin mining becoming more uniform with large mines largely dominating?

Those charts show how so far Bitcoin is from its "mining death spiral" that nocoiners have been talking about, and maybe secretly hoping for, in social media.

Here's another one.

https://pbs.twimg.com/media/DuLyegLXcAAGQfo?format=jpg&name=large

Death spiral? 8)

It's definitely not a "death spiral"....that's true for mining in particular, since the drop in hash rate hasn't even caught up to the drop in price. Still, breaking the long term log trend suggests more pain to come. And after that comes the long, boring sideways where it'll constantly feel like the floor is about to be pulled out from underneath the market. There are some tough times ahead for hodlers.

As a HODLer I will feel relief in a sideways movement. This is an indicator that the bull market is on it's way. Just a waiting game....

Also the chart shows that we can expect sideways now...

Sideways? I believe that chart has been zoomed out enough for all of us to see Bitcoin's real trajectory, and that direction is upwards. Or shall we say "to the moon". 8)

Yeah,the bitcoin all time price chart looks like a "stairway to the moon" or a "Stairway to heaven" (any Led Zepelin fans here?) ;D
As far as I remember,the mining difficulty is connected with the daily transactions quantity.If the quantity goes down,the difficulty goes down as well,so there's nothing to wory about.

We have had plenty of sideways action this year and it didn't translate into anything of bullish nature. People were bored, the market looked like it ran out of steam, and we paid the price for it.

Some even said it was an accumulation phase, but they have been proven wrong by now. Nah, I'm not taking part in that. I'm expecting the market to fall down to $3000 within a couple of days or before the end of 2018.

Testing the 200 weekly moving average twice doesn't show much confidence in the market. Yes, it bounced back up directly, but we have seen the same happen before and it broke anyway.

Testing the same support levels multiple times in a row is a bad sign.

The point is when the price drops there are miners who stop mining but people are forgetting that when the difficulty drops to a point where even a small miner could start mining again and make some little profits there will be difficulty increase again and than the price will have to go up.

Hence, we are just waiting for the difficulty to reach to the point where the price has dropped and when it catches up with the price there will be new miners who will want some piece of that pie and the price will go back up again. There is no way the difficulty keeps dropping the way it does since it wouldn't make any sense for people to just let the profits go to waste, people see profits and they take advantage of it all the time so why would mining be any different. It is just matter of time.