If the $30K doesn't hold and I had to guess, I would say that next bottom might be at $20K and if not then maybe slightly below that figure. Most likely everybody will want to long at $20K because its the easiest technical analysis out there "Resistance becomes Support" so most likely it might go to $21-22K before going back up to front-run those people.

Or it'll go to $20K, people will buy, it'll trade sideways for a few days or weeks and then all of a sudden dump and break $20K. Then people will panic it'll go to like $18K and that will be the bottom. Or maybe the bottom will be $16K which is around the 200 WMA which has been a very good bottom signal the last 3-4 times it touched.

I think there are way too many people who are new to crypto or even basic stock investing who don't realise that "Stocks can go down and you can lose money". There are tons of people on Reddit or Twitter who are surprised why Doge isn't over $1 by now.

Then there are those that understand that investment is risky but they will invest more than they are willing to lose. There are tons of people who took loans or sold personal possession to buy crypto because some billonaire predicted that Bitcoin should be worth $250,000. They figure when it was at $65K that it should at the VERY least to go $100K and they bought the top and are now panicking every 1% that it drops.

I am pretty sure those that were hodling Doge for the last 2 years like myself (bought at 25 sats) sold long time ago. I sold mine in ladders and my highest sell was 5 cents. Yes feel like an idiot for selling so cheap but keep in mind that I bought it for like 25 sats (forgot what the USD price was at the time)

And I am sure there are tons more like me and more were big hodl'er who probably most likely sold when the initial pump happened. Where it went to like 9 cents and topped, then traded sideways for like a month before heading higher. So most hodlers sold at 5-10 cents.

The reason is dumped is probably because panic started when TikTokers realised that its not going to hit $10 and they all started to dump on one another.

Space your GPUs further apart and go to Home Depot and buy those square box fans and point it towards the rig. This is what I did for most of my rigs and never had issues with high heat.

You can use those low power tiny computer fans however it'll be less effective and it will cost you more since you need to buy a controller for all 6 fans. Unless you are good with soldering and crimping to make your own custom cable to power those fans directly with your PSUs +12V.

You can also point your rig towards a window and put the fan in an area so it directs heat outside your place.

Read about it here,
https://blogs.nvidia.com/blog/2021/05/18/lhr/

Basically it stands for Lite Hashrate and its Nvidia's attempt to make the gamers happy and make the GPUs less desireable to miners so gamers can get their hands on them. Many think why does Nvidia care whether Gamers or Miners buy their GPUS, they get their money anyways? But the issue is that for the past year or so many gamers are mad because GPUs are OOS everywhere and they are forced to pay huge markups.

So these GPUs will be easier to find in stock usually. You can even mine with them but the hashrate is reduced. Wonder if AMD will make a similar approach?

Probably a scam however its possible the guy became a crypto millionaire and just wants to get rid of his gear because the profitability isn't there anymore and he was wants to sell it fast. The profits have dropped alot in the past month or so and he rather sell while it still has value than get less for it in the future.

Either way, you should never meet some stranger at their place. Meet somewhere public like a coffee shop or police station since you are dealing with that much cash. However if you meet in public your issue will be that you can't test the GPUs since it'll be a hassle bringing a desktop with you. So there is the issue with the GPUs being damaged that way.

Sounds too good to be true...probably is.

Looking at,
https://etherscan.io/chart/hashrate

You can see that the hashrate peaked at May 20th. And it is still heading down. And if you look at the BTC hashrate charts you will see something similar. Its basically all the China mining ban farms which are shutting down. Well they aren't shutting down completely, will just move them elsewhere and the hashrate will jump back up in 2-3 months time.

ETH is proof that the hashrate is more decentralized, because the %'s drop is much much less than BTC where like 50% of the hashrate seems to have disappeared due to the China ban.

I don't think its Musk or China FUD or anything like that. I just think that its the people who bought BTC at $19K and at $33K months ago, never took profit who are getting nervous seeing bitcoin at their break-even price and they just click SELL and get out of crypto.

There are tons of sob stories all over crypto twitter and reddit how people bought at $20K or $30K and doubled and trippled their money, they were going to buy a house when it hit $100K and now are watching their profits disappear and its getting closer and closer to their entry price and they are second guessing themselves if they should get out without a loss or stay in. The longer it trades in this range, the more these people will be nervious.

I don't think he is much of an influence anymore as he was in the past. Same with Saylor guy. Both of them had fairly bullish tweets in the last week and price still managed to go down. Musk said that they will accept BTC again when 50% of mining is with clean energy. And Saylor bought $500M worth. In a true bull market we would of had a nice 10% day with that news, however price went down anyways.

So I think that the market is going to ignore most of his tweets unless its something negative like. Tesla sold all BTC or Saylor sold all BTC and flipped short. Then that would cause panic and probably would take us to $20K or lower.

Back when ETH was trading between $100-$200 mining was hardly profitable. I think you broke even if you had like $0.10 kwh power which was the average for most people. Back then nobody was getting into mining ETH. You couldn't sell an RX 470 8GB no matter how hard you tried. People kept offering you "$20 because I know you mined with it". And there was hardware everywhere and nobody wanted to mine.

Now its the complete opposite. Impossible to find an RX 470 8GB at a decent price or any GPUs for that matter. So what does that tell you? It means that if everybody is rushing to mine at the same time its the worst time to get into it. Same with all the people who were buying Dogecoin at $0.75 thinking it would go to $1-$10.

The point is that whenever there is a crowded market it usually doesn't benefit everybody.

I don’t think most people will lose all their money, most will hodl for a few months or years and eventually break even. However I think that many in 2021 either already or in the near future will give up most of their profits.

The most obvious of this is looking at the Dogecoin Twitter feed and how there are people who were up 6-7 figures and never took any profits because they were expecting at least $1 Doge and are seeing their profits disappear.

Eventually what will happen most people will set their stop loss at break even and it’ll cause a cascading liquidation all the way to 5 cents or so which is the origin of this rally pretty much.

In a work office it won't work because of the way HVAC is set up. Most of the time, there is a HVAC temp control in the middle of the office somewhere. Usually office rooms don't have their own temp control because it would be too much wiring and everything.

If he has a few GPUs and even if they are silent, that room is going to be way too hot. People are going to question why his office is hotter than the rest of the rooms. And if his office is closer to the HVAC control then it'll think that its too hot and the AC will run longer and the offices far away will be freezing cold.

In a bear market shorts are obviously easier. In a bull market obviously longs are easier. The point is you have no idea what kind of market we are in when its too late. Right now I think we are neutral. If we break $30K or $20K especially then I would say we are in a bear market however the problem then will be how much lower than it go before it reverses and goes higher. Say it goes to $19K and you are bearish, it might go to like $17K and reverse and head to new ATH.

Same is said for bull markets. When we broke $50K everybody was expecting $100K at least and look what happened, we topped out at $65K and most people were wanting to take partial profits in the $100K area which never hit. So you would of been better being a bear right there, however this is all in highsight and won't help you.

He just completed his purchase about 2 hours ago or so. According to his tweet he bought 13005 Bitcoins for $489 million at an average price of $37.617 which is pretty much at the high last week. He has a total of 105085 bitcoins and his average is $26080.

So I have a feeling that people are going to want to get price below the $26K so his board gets nervous and makes him liquidate him position and if he starts to liquidate his position we will definately go below $20K fairly soon and stay there for a while. So becareful with your longs.

TA is far from perfect. However people still use it because its more reliable than fundamental analysis. You need to realise that if TA worked 100% of the time then there would be no market. With so many different TA signals out there, at one point in time could be a reason to long and a reason to short.

What determines the best traders is how they use this TA info. The smartest traders use the same TA as everybody else, however they go only with the trend and they may bail on a trade if it looks like its not going to work out. If it was this easy then everybody would be trading instead of working 9-5.

I wonder if Tesla never bought BTC which led to it accepting BTC for cars and later which led to them taking away that option when they found out that it wastes energy. I wonder how the market would look like today. Most likely nobody would be talking about bitcoin being bad for the environment. We knew since 2010 that it uses electricity its nothing new.

There are tons of things that waste electricity. Like people driving around in big pickup trucks for non-work related reasons. Usually I see some dude in a huge V8 pickup truck driving solo. Or NASCAR, basically driving around, wasting gasoline to drive in a complete circle for 50 cars. Maybe we should ban NASCAR also right?

I browse crypto Twitter from time to time and the way the sentiment shifts is crazy. Today everybody is bullish. Yesterday everybody was bearish, before that it was vice versa and so on.

We are basically trading the range here from $30-41k or so. We can stay in this range until late Aug and people are going to get chopped to bits trying to long or short this. Hence best to wait for confirmation on the upside or downside first.

I remember back in 2014 when the mempool was near empty, you never had to check what fee to use. The default fee everybody used back then was 10000 sats. Which at $200 a coin was like 2 pennies. I would basically do daily withdraws from my exchange, sometimes for small amounts less than $100.

Would send it back and forth pretty much, never had to worry about fees. Now 7 years later I rarely do any Bitcoin transactions. If I want to move across exchanges I use alts like LTC. Before I used to use ETH but those fees are also high from time to time.

And I am pretty sure many other people do the same, hence the reduced transaction volumes goes down. $20 a fee might be cheap sometimes but when you think of it, look how much stuff you can buy yourself for $20. And the fees add up. It’s not normal paying $200 a month just to do a few crypto transactions.

If you are planning on having the GPU inside an enclosed case and you want it to be quiet (not silent) then you can get away with 1 GPU. If you want more than 2 then forget about it. Even with high flow silent fans one of the GPUs will overheat (the 2nd GPU) and you will need to increase your airflow or open up the case to get proper ventilation.

You can’t do this in an office. You will have an important meeting and people are going to be wondering why is his PC so damn loud. It’s not professional. ASICS you can forget about. Those are as loud as a vacuum cleaner pretty much.

Right now we have basically a head and shoulders on the daily/weekly with the neckline being ~$29-$30K and shoulders being $42K with $64K as the head. Currently many traders are going to be trading this area of interest.

Most likely if we break $29K strong and don't close as a wick, then most likely we will see $25K perhaps even $20K later on. If we break the $42K with strength then we can easily go to $50K and most likely there will be strong resistance at $48K and $56K because that is where most the volume was traded and many people are holding the bag at those levels. Most likely out of fear they will want break-even there.