Bitcoin Forum

Actually I'm in a confusion with the fact that Bitcoin's value will be reduced or increased. Bitcoin was worth 8500 USD a few days ago, which has now fallen to a low of 7800 USD. But many are hopeful that this will increase the price of Bitcoin at the end of June. What's your opinion?

The all time high for Bitcoin was over $19K and then from there we have seen even $3.2K. It's not the first time that Bitcoin gained in fiat price and dropped. It's common with Bitcoin.

Not sure about end of June but we all are hoping Bitcoin price will hit sky limit in the future.

Correct, we have experienced the worst of bitcoin and that dump to $7800 is nothing like before. No need to freak out or anything just trust bitcoin, it'll rise up again probably before the months.

opinion is simple
mining cost
if its cheaper to mine then buy. people will mine it and sell at a small margin profit (as seen in octobers drop in mining cost which resulted in novembers price drop)

if its cheaper to buy than mine it. people will buy it and this makes the price go up.

imagine it like if gold could be mined using a wooden kitchen spoon and a coffee filter in your own back yard for $1 an ounce. gold would not be $1k+ an ounce as everyone would bejust mining their own and selling for profit, making the price drop.

now when mining costs were down at $3500 and markets were $3600. we had weeks of oppertunity for anyone profiting below this to sell off. which eventually died off, leaving only buyers.
as the hashrate rose mining costs rise. so mining costs and market buyers gradually went up.

right now though. we are at a period of mining costs being ~$5k bottomline and market price being high $7k
thats $2-3k of whats known as speculation/hype/fomo/bubble/'utility' value pricing

so as long as mining costs remain where they are you wont see mass panic of a $1 bitcoin. you will just see price swings above $5k

last year spring-summer 2018 before next gen asics hit the network(october) mining costs were ~$5800 and the market was $6k-$20k and tested the $5800 bottom a few times but didnt dip below.

this bottomline cost based on mining and eventual depletion of profiteers selling above their acquisition costs is what makes bitcoins PoW mining better than other coins PoS. because things like PoS have no underlying cost/risk of loss. so PoS coins could asily sell down to pennies without notice. but PoW coins will have the mining costs as a bottomline support
all you need to know/worry about is the most cheapest way to mine a coin the economy can provide and watch that number. if the hashrate goes down expect the bottomline value support to go down. if it goes up expect the bottomline suppert to go up

then when you look at the market price which is above this. you can work out how much hype is added ontop.
if again say bottomline support was $5800 but the market was $20k. expect a big impending correction
if again say bottomline support was $5800 but the market was $6k. expect a chance of market rise
if again say bottomline support went to $5500 but the market was higher expect a chance of market dip but not a crash
if again say bottomline support went to $3500 but the market was higher expect a chance of market crash

in short. dont just see the market price as a point of high.. also look at the low and range between them. use things like mining costs to find the possible low to then judge the hype of the highs

I am actually surprised that you are confused with this latest development with bitcoin. Bitcoin can go up and can go down in matters of hours because of its superb volatility...a thing which has become one of the famous landmark of this cryptocurrency. Now, don't worry about it because soon it will be back going upwards to the $9,000 to $10,000 level. You should start to be accustomed to this movement and should not be discouraged just because bitcoin can jump fast. Rather, we should enjoy the roller-coaster ride.

Franky, stop with the misleading information.

In October the price was 6500$,  the hashrate was around 50exa
In January the price was 3500$ , the hashrate was around 40exa
In May the price went above 8000$, the hashrate was still below 50 exa.

Hashrate has followed the price, stop with the stupid nonsense.

A wall of text full of fake numbers is not going to change the image of the guy who doesn't have a clue how the mining reward is split.
Stick to your rant about the LN but stop talking about mining and another thing you don't have a clue about.

This is actually nothing but expected correction that is due for a few weeks now. Bitcoin has exhibited even more drastic price drops in the past but still managed to get thorugh all of those in time. Also, in whichever market you try to take a look, what comes up must come down, and you can't expect a constant rise in price forever as people's sentiments toward a certain asset change over time as well.

If you have invested on the top end of the current run, you have the right to be worried of your funds, but right now there doesn't seem to be anything that indicates a strong bearish presence in the market so I think holding a little longer is good.

I think you've never looked at Bitcoin's past price graphs. Not many, 1.5 years ago Bitcoin was about $ 20,000. In other words, the price of Bitcoin should be evaluated as potential. I am sure it will be reach over 10K $ soon.

try doing some proper maths.. the market PRICE is not mining COST
thrs variance. its called speculation, hype. fomo

learn about it.. thats the whole point

In October the price was 6500$,  the hashrate was around 50exa (cost $5k) (hype$1k)
In October the price was 6500$,  the hashrate WENT DOWN (cost BELOW $5k) (hype over $1k+)
impending correction
In november  the hashrate was around 35exa (cost $3.5k) (hype OVER $3k+)
correction begins
In november the price was 3600$ the hashrate was around 35exa (cost $3.5k) (hype UNDER $300)
expect profiteers to sell off and run out of profit, thus eventually price rise if hashrate rise once profiteers exit

In december the price was 4000$ the hashrate was around 35exa (cost $3.5k) (hype restarting)

In january the price was 4000$ the hashrate was around 40exa (cost $4k) (hype restarting)
expect price rise


stompix. if you cant understand the LOWS and all you can spot is a market price(high) and you cant understand what many layers make up peoples decisions and what makes prices move. then maybe you need to look into numbers deeper then just presuming the market price is just random

Are you curious about Bitcoin's price or Bitcoins cost?

These are different. You are asking cost on subject but you are mentioning of price. I think you are confuse :)

Lols, so in November the cost was 3.5k and with the hype over of 3k+ , it reached the price of 4200..
In what part of the world does 3500+3000=4200 ?

And no, the hash rate never dropped that much, the median was actually 45 exa.

How about rather than posting walls of text you do some research about the addition table?
I'm sure there is a shop somewhere you can buy one with BTC and hang it on your wall.

As I said it before, stop pulling random indicators out of your ass and stick to your rants about the LN.

In last 6 month bitcoin price rise from $3200 to $9000. Thats a huge gain, a small correction was needed. I will not be surprised if it falls more. But seeing 1 year from today, i can sure bitcoin price will be approx $10k-12k or maybe more

I would say it as a correction. Couple of months ago, bitcoin value was $4k and lower. It has suddenly increased recently. Moreover, there's nothing to panic about the price. $7.5k seems to be a good support point.

ill laugh right back at you..
$4200?
sorry to correct YOU, but...
 start of month before the 'dip' the PRICE was still above $6k but the hashrate already was dropping(hashrate went down in october)

https://i.imgur.com/e2OcHtx.png

atleast check the stats, events, timing.. do some maths.
and stop just looking at what the daily HIGH is.
think beyond the highs. then you might understand more

If many are anticipating that the price will go up in June what would be the base reason they are telling you, is there a verifiable proof that it is certain that the price would go up  ;) no one is able to exactly come up with an explanation on how the market will react in a particular month, since the market was going up for most of the time last month, i expect the market to lay low this month and it is just a speculation like everyone else.  ;D

Bitcoin is volatile and the price will grow if not now, i'm 100% sure that price will be much higher than 20k$ and this can happen maybe next year before or after bitcoin mining reward halving.

It's normal for Bitcoin to drop down and increase its value because it's volatile and it isn't stable. If you're expecting a continuous increase, that will be impossible because there will always be an occurrence of corrections. However, I'm sure that the prices will still go better soon.

If you'll observe the market, it could strike high in few hours and could drop down in just a short span of time. There are lots of reasons that affect the prices even the whole market situation. Sometimes, the supply and demand have a huge impact on it as well.

Wait, so miners were dropping out of mining because the price was still the same?
What reason would a miner that miner at 6k to drop out at 6k other than insanity?
And learn how to use a graph, the price plummeted in the second half of November from 6.5 k on the 12 to 4.2 on the 26.
The hash rate dropped from 49exa on the 12 to 42 exa on the 26.
The price stopped bleeding and only went down 10% more while the hashrate drop continuously to lose 25%.
The price showed signs of recovery the hashrate was 2 months late.

Hashrate follows price, stop trying to paint it otherwise.

And do something about that 3+3=4  :D

no you are wrong. bitcoin was worth $4000 a few weeks ago and now it has risen to $7800.

it has little to nothing to do with mining and its cost because miners only shape up a very small percentage of the trading market which is where the price is determined. if you disagree with this and think miners shape up most of the trading market then you should admit that when halving happens price should go up at least 500% which is never going to happen.

I think so, I prefer this moment because this is where I can buy more bitcoin. When people think before the end of June it will go up, I don't care that because I target at the end of this year bitcoin can rise much higher.
I don't know why people are so worried when bitcoin goes down even though any money market must be volatile, they really want to make money fast I think, huh.

stompix miners started dropping hashrate in OCTOBER. get it, OCTOBER OCTOBER.
the reason was NOT the market price. but more efficient ASICS = more profit
the PRICE LATER then shifted down where the PRICE reacted. not the other way round

the HASHRATE and COST went down to $3500+ where the bottomline COST support meant no one would sell for say $3k. as thats a LOSS. no one wants to sell at a loss. so the PRICE didnt go below. (common sense)
but they were willing to sell above $3500 as they can make profit on that. and so they did (common sense)

its clear you dont understand the concept. so either learn, or move on with your life.

but one thing is for sure. i know you are hoping for some big massive guaranteed crystal ball daily PRICE predictor
sorry. but if you think my comments are about PRICE predicting, you have it all wrong.
its about knowing the BOTTOMLINE

if you cant understand or visualise the benefits of knowing the bottomline then learn or move on

---

anyway. to move on from stompix's interuption
the point is
we have a situation of profitable mining at ~$5000 COST
we have a situation of market price at ~$7800 PRICE

thats $2800 of speculations, volatility zone. the PRICE could go up above $7800 or below $7800 but will stay above the $5k if there was a correction.

this is not much of a big FOMO/MOON moment like 2017-18 $20k of $14k speculation/volatility. but dont expect $7800 as the 'bottom'

keep calm and patient, stare BTC graph burning red its very different with expectation, it's okay maybe this is part of  pumping cycle that will faced in next few weeks. I am always optimistic that BTC will gain a sweet price ahead.

I think that there‘s a comeback that will happen just like what happened before,this current price is dropping coz many of us was panicking that it price will be dropping quickly so many of holders or investors was selling their token eagerly,for me make your own research and dont depend on others.

If you're going to use caps like a mental case consider the discussion closed.


Where do you pull this cost support out of?
Show me the formula you're doing to get this number!
Oh wait...that's a value you spin around to fit your theory but it has no basis.


Lols, are you seriously so much out there?
Franky1 , If I wanted a price prediction why would I argue all day that hash rate is following price, so that only hashrate is predictable and not the price?

Actually, forget it. I'm done!!!!
It's going to be far easier to teach my 4yo about supersymmetry than talking sense into somebody who believes 3+3=4

i said multiple tmes now, its mining cost.. work it out


$3.5k+$3k was $6.5k
i even showed an image that shows the $6.5k

it was you and ONLY YOU that thought at the period of "$3.5k+$3k"  the price was ~$4k
again only YOU suggested the PRICE was ~$4k
so its YOU that got the 3+3=4 math wrong. because YOU suggested 4 as the answer. my math was 3+3.5=6.5

shame you didnt read the posts fully, and shame you didnt remember the parts you wrote yourself

anyway, this discussion about working out the bottomline costs where stompix cant understand is closed. may he move on as it appear he will never get it.

lets just leave it for others to discuss and not let this turn into a deraied social drama distraction like some try to make it when they cant understand things

This price of  approx 8500 USD/1 bitcoin is the price to produce that 1 Bitcoin (the energy, the computers, the network maintanance, etc).  Because the difficulty of producing the Bitcoin increases with time, the price of the Bitcoin goes up (increases).
This year (2019) will be created approx 300 000 bitcoins.  In 10 years there will be created approx 7 000 bitcoins.
 
Thus in 10 years from now it is very probable that the cost of 1 Bitcoin will be approx 500 000 USD (the market price).
  

market PRICES are not based on 17million coins.
market prices are based on small amounts of coins that are rinsed and repeated(day traded)
the VOLUME of say 100k coins may actually only be 10k coins arbitraged 10 times a day.

as for price discovery.
when people want to buy they think about can they get it cheaper else where. and look at mining costs. if they see that they can make ALOT of profit from mining. they try that.
miners do the same. if they see they cannot make profit mining. they stop selling

this creates a support bottomline (note: support bottom line is not the volitile PRICE) its the bottomline where eventually the whole economy has had enough of selling and wont sell for less as they will all lose.

...
the halvening cannot predict or indicate a 500% increase. infact the word halvening means if the COST for mining was $5k today. and hashrate remained the same at the halvening. then with less coins the PRICE would be at break even of $10k. which is 200%.. so not sure where the 500% silly number comes from
thus the PRICE would be $10 PLUS (plus=speculation/homo)

its deflationary halvening which means value has to double to match.. its not called a fifthening

The burning red graphic has already gone for now. That correction is over, now we need to check if there will be more one yet or if we are in a new pump already. Btc is in 7760 dollars, I believe it will rise again without issues, the problem is that it's hard to break the 8800 dollars resistence and reach 9000 dollars with strength to stabilize on that level.

If you look at the price richt now, it is still down but it doesn’t mean it will not pump again, its the end of 2nd quarter and i really see bitcoin to be good again. Despite of this correction, the up trend are still intact and I can see on the chart that aftet this down, bitcoin can go over $9k but there’s no specific day or month for that so remain focus and positive.

It will increase again, some correction needs to happen, but mate, do your own TA as you cannot trust your decision making from people if you are a trader, the market is unpredictable, sometimes our analysis could go wrong, and therefore, we should only rely to ourselves.

Always trust your own understanding, the market is really volatile and sway happens without your knowledge, you can only anticipate and you must read according you your own understanding.

This corrections might go down more before it will increase to another level, learning to analyze and make a good assumptions to your investment.

How did you know that ?  Your seem too sure on what your saying. I like the attitude of yours because your not thinking negative thoughts about the status of bitcoin but lets be honest here  we wont know if bitcoin will increase or decrease  , only time will tell   .

The cost of bitcoin is now 7865.24 usd but this can change without notice  because bitcoin is not a stable coin  .

Nobody can exactly predict what will be price of bitcoin in the coming days but since the top coin is still bullish I expect it grow more after it fell to $7400 the previous days. The bitcoin goes into price consolidation before it resume its upward movement and the top coin should break some resistances like $9k before its momentum pick up again. If you are long time trader, you already know the possible price scenario in the few days by using price action and technical analysis.

This is normal in cryptocurrency especially with bitcoin, i think the drop is not yet over and we might expect a downward price to $7.2k. Hoping we can reach $9k this June but surely bitcoin will skyrocket in the years to come.

IMHO im not really sure if bitcoin price will rise more before end of june
but there a chance that bitcoin price will rise in the next few months because of incoming halving

If you ask about Bitcoin transaction fee has transaction fee of range 0.001 BTC, but if you ask about Bitcoin price now there in the range of 7k $ to 8k $ still not find Sideway point.