Exactly. So what if we poke up above $3 for a little bit. I'm confident that a week from now we'll be below $3 consistent with the clear abandonment of bitcoin.
Judging from the future difficulty estimates, I'd say enough miners finally threw in the towel to bring demand in line with supply. I think we'll probably see a slow and steady rise in price until the next difficulty reset.
supply is always the same no matter how many miner there are. their is always 7200BTC generated pre day .
i think we are seeing higher prices because, we just saw big investors cash out to cut their losses, everyone that lost faith in BTC cashed out.
the 10$ wall vanished, poeple panic sell
the 8$ wall vanished, poeple panic sell
the 5$ wall vanished, poeple panic sell
at 3$ that was it bitcoin was "dead" and everyone Sold, who bought up all these coins? the fans!
fans that wont sell
so b4 we had investors holding most of the coins
now we have many many bitcoin fans holding the coins.
i think we might just see 10$ again and SOON. with very little resistance on the way up.
after all btc is worth.... wtv the majority feels it worth.
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